NAV, Dividend Declaration and Q3 2020 Update

26 October 2020

TUFTON OCEANIC ASSETS LIMITED

("Tufton Oceanic Assets" or the "Company")

Net Asset Value, Dividend Declaration and Q3 2020 Update

Tufton Oceanic Assets announces that as at 30 September 2020, the unaudited net asset value ("NAV") was $242.80 million and the unaudited NAV per ordinary share was $0.952.

The Company is pleased to announce a dividend of $0.0175 per ordinary share for the quarter ending 30 September 2020. The dividend will be paid on 20 November 2020 to holders of ordinary shares recorded on the register as at close of business on 6 November 2020 with an ex-dividend date of 5 November 2020.

The Company's quarterly factsheet as at 30 September 2020 will shortly be available on the Company's website in the Investor Relations section under Company Documents at www.tuftonoceanicassets.com/quarterly-reports.

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About the Company

Tufton Oceanic Assets Limited invests in a diversified portfolio of secondhand commercial sea-going vessels with the objective of delivering strong cash flow and capital gains to investors. The Company's investment manager is Tufton Investment Management Ltd. The Company has raised a total of approximately $250m (gross) through its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange, on 20 December 2017, a subsequent placing and offer in October 2018, a placing in March 2019 and a placing in September 2019.