24 July 2023

Tufton Oceanic Assets Limited

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

Transaction in Own Shares

The Company announces that on 21 July 2023 it purchased 941,000 ordinary shares at a price of $0.985 per share in accordance with the authority granted to it by Shareholders at its 2022 Annual General Meeting. The purchased shares will be held in treasury. Following this purchase, the Company will have 296,382,541 ordinary shares in issue with voting rights and 12,246,000 ordinary shares held in treasury.

This figure 296,382,541 represents the total voting rights in the Company and may be used by Shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

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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 $316.5m (gross) through its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange on 20 December 2017 and subsequent capital raises.