These materials are not an offer of the solicitation of an offer for securities for sale in the United States. The subscription rights and the shares referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("Securities Act"). The subscription rights may only be exercised, and the new shares may only be offered or sold, pursuant to an exemption from, or in transactions not subject to, the registration requirement of the Securities Act.

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.

Hamburg, 5 June 2023 - Ernst Russ AG offered its shareholders a stock dividend for the first time for the 2022 financial year. Shareholders thus had the opportunity to choose between receiving their dividend in cash or shares, in full or in part, during the subscription period from 11 May 2023 to 25 May 2023.

Overall, shareholders with around 71% of the shares entitled to dividends opted to receive their dividend in shares, leaving around EUR 4.6 million in the company and strengthening the equity of Ernst Russ AG. Shareholders who opted for a cash dividend will receive a total distribution of around EUR 1.9 million.

With this high acceptance rate, the shareholders confirm the strategic orientation of Ernst Russ AG and underline their long-term confidence in the further development of the company. Based on the acceptance rate, 1,066,256 new shares will be issued, increasing the total number of Ernst Russ shares by approximately 3.3 % to 33,500,286 shares.

The new shares are expected to be included in trading on the Regulated Unofficial Market of the Frankfurt Stock Exchange (Scale) and the Regulated Unofficial Market of the Hanseatische Wertpapierbörse Hamburg (Mittelstandsbörse Deutschland) on 19 June 2023.

About the Ernst Russ Group: Ernst Russ AG is an internationally operating ship-owner and maritime investment manager based in Hamburg. Parts of the company date back to 1893. The Group currently manages a fleet of 31 fully consolidated vessels. The focus here is on container ships with a capacity of between 700 and 6,600 TEU. Ernst Russ AG expands its fleet on an ongoing basis thus ensuring stable and sustainable added value for its shareholders.