Global Ship Lease Declares Quarterly Dividend on its 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares

London - June 09, 2023

Global Ship Lease, Inc. (NYSE: GSL) (the "Company") announced today that the Company's 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 April 1, 2023 to June 30, 2023 and will be paid on July 3, 2023 to all Series B Preferred Shareholders of record as of June 26, 2023.

About Global Ship Lease
Global Ship Lease is a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under fixed-rate charters to top tier container liner companies. It was listed on the New York stock Exchange in August 2008.

As at May 9, 2023, Global Ship Lease owned 64 containerships and had contracted to purchase a further four ships, ranging from 2,207 to 11,040 TEU, with an aggregate capacity (when fully delivered) of 375,406 TEU. 36 ships are wide-beam Post-Panamax.

Adjusted to include all charters agreed up to May 9, 2023, and the four ships to be acquired, the average remaining term of the Company's charters as at March 31, 2023, to the mid-point of redelivery, including options under the Company's 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 $2.11 billion. Contracted revenue was $2.54 billion, including options under charterers' control and with latest redelivery date, representing a weighted average remaining term of 3.3 years.

Global Ship Lease press release