GlobeNewswire Inc | Sep 9, 2021 08:30AM EDT

September 09, 2021

LONDON, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the Company) announced today that the Companys Board of Directors has declared a cash dividend of $0.546875 per depositary share, each representing a 1/100th interest in a share of its 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares (the Series B Preferred Shares) (NYSE:GSLPrB). The dividend represents payment for the period from July 1, 2021 to September 30, 2021 and will be paid on October 1, 2021 to all Series B Preferred Shareholders of record as of September 24, 2021.

About Global Ship Lease

Global Ship Leaseis a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships. Incorporated in theMarshall Islands,Global Ship Leasecommenced operations inDecember 2007with a business of owning and chartering out containerships under fixed-rate charters to top tier container liner companies. It was listed on theNew Yorkstock Exchange inAugust 2008.

As atAugust 31, 2021,Global Ship Leaseowned 61 containerships, ranging from 1,118 to 11,040 TEU, and had contracted to purchase a further four ships, for a total fleet of 65 ships with an aggregate capacity of 342,378 TEU. 32 ships are wide-beam Post-Panamax.

Adjusted to include all charters agreed, and ships contracted to be purchased, up toAugust 31, 2021, the average remaining term of the Companys charters as atJune 30, 2021, to the mid-point of redelivery, including options under the Companys control and other than if a redelivery notice has been received, was 2.5 years on a TEU-weighted basis. Contracted revenue on the same basis was$1.37 billion. Contracted revenue was$1.61 billion, including options under charterers control and with latest redelivery date, representing a weighted average remaining term of 3.1 years.

Safe Harbor Statement

This press release contains forward-looking statements. Forward-looking statements provide the Company's current expectations or forecasts of future events. Forward-looking statements include statements about the Company's expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "will" or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. These forward-looking statements are based on assumptions that may be incorrect, and the Company cannot assure you that the events or expectations included in these forward-looking statements will come to pass. Actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors, including the factors described in "Risk Factors" in the Company's Annual Report on Form 20-F and the factors and risks the Company describes in subsequent reports filed from time to time with the U.S. Securities and Exchange Commission. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this press release or to reflect the occurrence of unanticipated events.

Investor and Media Contact: The IGB GroupBryan Degnan646-673-9701or Leon Berman 212-477-8438