GasLog Ltd. and GasLog Partners LP Refinance 2021 Debt Maturities with New Loan Agreements Totalling $1.1 Billion and Provide Organizational Update - Seite 2

Delivery of GasLog Westminster

On July 15, GasLog took delivery of the GasLog Westminster, a 180,000 cubic meter cargo capacity LNG carrier with X-DF propulsion and Mark III Flex containment system. The vessel was delivered on time and on budget and will immediately commence a seven-year charter with a wholly owned subsidiary of Centrica plc.

The GasLog Westminster is the third of seven vessels scheduled to deliver during 2020-21, all of which are fully funded and together are expected to generate approximately $145 million of EBITDA⁽¹⁾ per annum.

Peter G. Livanos, Chairman of GasLog, stated “I am very pleased to announce the continued delivery of our in-built growth, refinancing of our 2021 debt maturities a year ahead of schedule and further reductions in our cost base, all strategic priorities heading into 2020.

The GasLog Westminster provides industry leading shipping economics and emissions reductions while expanding our relationship with Centrica and enhancing our revenue and cash flow visibility.

Signing our largest refinancing during unprecedented uncertainty in credit and bank markets underscores the strength and scale of our platform to attract new capital providers. We appreciate the continued support from our banking partners which we are proud to say include leading financial institutions from around the world.”

⁽¹⁾ EBITDA is a non-GAAP financial measure. Please refer to Exhibit I for guidance on the underlying assumptions used to derive EBITDA

Contacts:

Joseph Nelson 
Head of Investor Relations 
Phone: [phone] 

Email: [e-mail] 

About GasLog 

GasLog is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain. GasLog’s consolidated fleet consists of 35 LNG carriers. Of these vessels, 19 (15 on the water and four on order) are owned by GasLog, one has been sold to a subsidiary of Mitsui & Co., Ltd. and leased back to GasLog under a long-term bareboat charter and the remaining 15 LNG carriers are owned by the Company’s subsidiary, GasLog Partners. GasLog’s principal executive offices are at 69 Akti Miaouli, 18537 Piraeus, Greece. Visit GasLog’s website at http://www.gaslogltd.com.