Seaspan Announces Order For Four 7,700 TEU Dual-Fuel LNG Containership Newbuilds

London, U.K. - May 18, 2022





Seaspan Corporation ("Seaspan"), a wholly-owned subsidiary of Atlas Corp. ("Atlas") (NYSE: ATCO), today announced that it has entered into agreements with a major shipyard to construct four ultra-modern 7,700 TEU dual-fuel liquefied natural gas containership newbuilds (the "Vessels").

The Vessels are anticipated to be delivered in the third and fourth quarters of 2024, and will enter into long-term charters with a leading global liner customer upon completion.

The charters include purchase obligations at the conclusion of the charter terms, and will contribute approximately $0.95 billion of gross contracted cash flow.

The Vessels are anticipated to be financed through existing liquidity, cash flow from operations, and additional borrowings. The transaction remains subject to certain closing conditions.

About Atlas
Atlas is a leading global asset management company, differentiated by its position as a best-in-class owner and operator with a focus on disciplined capital deployment to create sustainable shareholder value.

We target long-term, risk-adjusted returns across high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. For more information visit atlascorporation.com.

About Seaspan
Seaspan is the largest global containership lessor, primarily focused on long-term, fixed-rate leases with the world's largest container shipping liners.

As at March 31, 2022, Seaspan's operating fleet consisted of 132 vessels with a total capacity of 1,147,980 TEU, and an additional 67 vessels under construction, excluding those announced today, increasing total fleet capacity to 1,959,380 TEU, on a fully delivered basis.

For more information, visit seaspancorp.com.

Seaspan Corporation press release