Otto Marine Limited : Updates On Subsidiaries, Associates, Joint Venture Companies, Board Of Directors And Committee Members

(Company Registration Number 197902647M)

(Incorporated with limited liability in the Republic of Singapore on 5 September 1979)

UPDATES ON SUBSIDIARIES, ASSOCIATES, JOINT VENTURE COMPANIES, BOARD OF DIRECTORS AND COMMITTEE MEMBERS

Due to the recent activity related to the incorporation of subsidiaries, the Board of Directors ("Board") of Otto Marine Limited (the "Company") wishes to list all of its subsidiaries, associates and joint-venture companies.
Details of the Company's subsidiaries, associates and joint-ventures as at to-date are attached hereto and marked as Appendix A.
The investments described above are not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of the Company and its subsidiaries for the current financial year ending 31 December 2012.
Save as disclosed above, none of the Directors or substantial shareholders of the Company has any interest in the above transactions.
Due to changes on the Board and Committees of the Board during the financial year ending 31
December 2012, the Board also wishes to list its current Board and Committee Members.
The current Board of Directors is as follows:
Mr. Yaw Chee Siew, Chairman & Group Chief Executive Officer; Mr. Aw Chin Leng, Executive Director & Deputy President;
Mr. William Edward Alastair Morrison, Non-Executive & Non-Independent Director; Mr. Craig Foster Pickett, Non-Executive & Non-Independent Director;
Mr. Heng Hock Cheng @ Heng Heyok Chiang, Non-Executive & Independent Director;
Mr. Reggie Thein, Non-Executive & Independent Director;
Mr. Ravinder Singh Grewal S/O Sarbjit Singh, Alternate Director to Mr. William Edward Alastair
Morrison (Non-Executive & Non-Independent Director);
Mr. Ng Quek Peng, Non-Executive & Independent Director
The composition of the Company's Committees is as follows:

Audit Committee

Mr. Reggie Thein, Chairman

Mr. Ng Quek Peng

Mr. William Edward Alastair Morrison

Mr. Heng Hock Cheng @ Heng Heyok Chiang

Nominating Committee

Mr. Heng Hock Cheng @ Heng Heyok Chiang, Chairman

Mr. Reggie Thein

Mr. Ng Quek Peng

Mr. Craig Foster Pickett

Remuneration Committee

Mr. Heng Hock Cheng @ Heng Heyok Chiang, Chairman

Mr. Reggie Thein

Mr. Ng Quek Peng

Mr. Craig Foster Pickett

By Order of the Board
See Kian Heng
Group Chief Financial Officer
11 September 2012

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Appendix A

Entity Place of Incorporation

Proportion of ownership

Principal Activities

AOS Offshore Pte Ltd 1 Singapore 100% Ship chartering Aries Offshore Singapore Pte. Ltd. Singapore 49% Investment holding Beluga 1 Pte. Ltd. Singapore 100% Dormant
Beluga 2 Pte. Ltd. Singapore 100% Dormant
Blue Fin I Pte. Ltd. Singapore 100% Owning and chartering of vessel Blue Fin II Pte. Ltd. Singapore 100% Owning and chartering of vessel Blue Fin III Pte. Ltd. Singapore 100% Owning and chartering of vessel Blue Fin IV Pte. Ltd. Singapore 100% Owning and chartering of vessel Blue Fin V Pte. Ltd. Singapore 100% Owning and chartering of vessel Coral Trout Fleet Pte. Ltd. Singapore 100% Investment Holding
Deep Sea 1 (M) Limited* Malaysia, Labuan 100% Owning and chartering of vessel
Deep Sea 1 Pte. Ltd. Singapore 100% Dormant Dolphin 1 Pte. Ltd. Singapore 100% Leasing Dolphin 2 Pte. Ltd. Singapore 100% Leasing
Dolphin 3 Pte. Ltd. Singapore 100% Owning and chartering of vessel
Dolphin 4 Pte. Ltd. Singapore 100% Owning and chartering of vessel
Dolphin Fleet Pte. Ltd. Singapore 100% Investment Holding

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Appendix A

Entity Place of Incorporation

Proportion of ownership

Principal Activities

Eagle 1 Pte. Ltd. Singapore 49% Ship chartering Eagle 2 Pte. Ltd. Singapore 49% Ship chartering Eagle 3 Pte. Ltd. Singapore 49% Ship chartering
Global Karp Pte. Ltd. Singapore 100% Investment Holding Global Workboats Pte. Ltd. Singapore 100% Fleet management Go Hartmann Pty Ltd Australia 44% Ship chartering
Go Inshore Pty Ltd Australia 90% Chartering of vessels
Go Marine Director and Employee
Trust
Australia 90% Dormant
Go Marine Group Pty Ltd Australia 90% Investment Holding
Go Marine Services Pty Ltd Australia 90% Dormant
Go Marine Ship Management (M) Sdn. Bhd.*
Malaysia, Labuan 90% Ship management and crewing services
Go Marine Ship Management (S) Private Limited*
Singapore 90% Ship management services
Go Offshore (Asia) Pte. Ltd. Singapore 90% Chartering of vessels
Go Offshore Carriers Pty Ltd Australia 45% Dormant
Go Offshore Pty Ltd Australia 90% Manning and chartering of vessels
Go Oranda Limited* British Virgin Island 90% Owning and chartering of vessel

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Appendix A

Entity Place of Incorporation

Proportion of ownership

Principal Activities

Appendix A

Entity Place of Incorporation

Proportion of ownership

Principal Activities

Oranda 1 Pte. Ltd. Singapore 100% Dormant
Oranda 2 Limited* British Virgin Island 100% Owning and chartering of vessel
Oranda 2 Pte. Ltd. Singapore 100% Dormant
Otto Fleet Pte. Ltd. Singapore 100% Investment holding Otto Investment Limited Malaysia, Labuan 100% Investment holding Otto Limin Marine Private Ltd Singapore 50% Ship chartering Otto Marine (Australia) Pty. Ltd. Australia 100% Dormant
Otto Marine Marketing Pte. Ltd. Singapore 100% Dormant
Otto Marine Services Pte. Ltd. Singapore 100% Treasury management
Otto Marine Supplies Pte. Ltd. Singapore 100% Procurement and trading of goods
Otto Offshore Limited Malaysia, Labuan 100% Procurement and sale of vessels
Otto Offshore (Qidong) Company
Limited
People's Republic of China 100% De-registered in Dec 2011
Otto Ship Management Pte. Ltd. Singapore 100% Ship management Otto Strategic Pte. Ltd. Singapore 100% Investment holding Otto Ventures Pte. Ltd. Singapore 100% Investment holding
Pacific Cove International Ltd British Virgin Island 49% Ship chartering

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Appendix A

Entity Place of Incorporation

Proportion of ownership

Principal Activities

Polar Marine I Pte. Ltd. 2 Singapore 49% - Polar Marine II Pte. Ltd. 2 Singapore 49% -
PT Batamec Indonesia, Batam 95% Ship repair and shipbuilding
PT Lestari Utama Nusantara Indonesia, Jakarta
(Operations: Batam)
95% Land and equipment rental
Redfish 1 Pte. Ltd. Singapore 100% Owning and sale of vessel
Redfish 2 Pte. Ltd. Singapore 100% Dormant Redfish 3 Pte. Ltd. Singapore 100% Dormant Redfish 4 Pte. Ltd. Singapore 100% Dormant
Reflect Geophysical Pte. Ltd. Singapore 81.8% Acquisition of seismic data
Reflect Offshore Pte. Ltd. Singapore 81.8% Dormant Sailfish 1 Pte. Ltd. Singapore 100% Dormant Sailfish 2 Pte. Ltd. Singapore 100% Dormant Sailfish 3 Limited British Virgin Island 100% Dormant
Sailfish Supply Limited British Virgin Island 100% Chartering of vessels Supply Fleet Pte. Ltd. Singapore 100% Investment holding Surf Subsea Inc. United States of America 19.2% Subsea services
Surf Subsea Pte. Ltd. Singapore 100% Investment holding

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Appendix A

Entity Place of Incorporation

Proportion of ownership

Principal Activities

1 AOS Offshore Pte Ltd - the Group's interest increased from 49% to 100% by way of an acquisition of 51 shares totaling S$51.00 on 3 January 2012, on a willing buyer and willing seller basis, which was funded through internal resources.

2 Polar Marine I Pte. Ltd. and Polar Marine II Pte. Ltd. were dissolved by Members' voluntary liquidation on 27 July 2012 and 31 July 2012, respectively.

* Incorporated during 2012

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