Opening of First African Office in Cape Town

Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering, and risk management advice to the shipping and energy markets, is pleased to announce the opening of its first office in Africa, located in Cape Town, South Africa.

This latest office opening marks a significant step towards the recently announced targets under Braemar's new strategic framework. The framework supports the delivery of the Group's ongoing growth strategy by driving operational excellence, diversification and consolidation, with operational targets for FY26 and financial targets for FY30, including expansion into one new jurisdiction by FY26.

The office, which will initially offer tanker chartering services, will be led by Bryn Ressell and Clinton Schultz. Bryn brings over 35 years of experience in the oil and shipping industry, whilst Clinton has over 27 years of broking experience. Completing the team is Monica Solomons, who brings 20 years of experience in shipping operations and administration.

The South Africa launch takes Braemar's global footprint to 19 offices across 14 countries.

Bryn Ressell, Head of Braemar South Africa, commented: "We are delighted to be joining Braemar and launching the South African office. Combining Braemar's global footprint and experience, with our in-depth knowledge of the local market, we look forward to working with our new colleagues and servicing our clients."

Commenting, James Gundy, Group CEO of Braemar said: "This is an exciting milestone for Braemar as we expand into Africa for the first time. Our new Cape Town office reflects our commitment to broadening our reach into key strategic markets and delivering against our strategic framework. I'm delighted to welcome Bryn, Clinton and Monica to the Group and we are excited by the opportunity this presents and look forward to continuing to build upon our presence in the region."