(Company Registration No. 197902647M) (Incorporated in the Republic of Singapore on 5 September 1979)

NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Otto Marine Limited (the "Company") will be held at 9 a.m. on 4 July 2014 at Room 329, Level 3, Suntec Convention Centre, 1 Raffles Boulevard, Suntec City, Singapore 039593, for the purpose of considering and, if thought fit, passing with or without modifications, the following ordinary resolution:

All capitalised terms used in this Notice of EGM which are not defined herein shall, unless the context otherwise requires, have the same meaning ascribed to them in the Circular of the Company dated 19 June 2014 to Shareholders.

ORDINARY RESOLUTION RESOLUTION 1 - PROPOSED ISSUANCE AND ALLOTMENT OF CONSIDERATION SHARES TO GARRICK

That:
(a) approval be and is hereby given to the Directors to issue and allot 87,880,281 Consideration Shares to Garrick at the Issue Price of S$0.071 per Consideration Share, on the terms and subject to the conditions of the Agreement, such issue of Consideration Shares being an issue of securities in which a Director of the Company, Garrick is participating directly, under Rule 804 of the Mainboard Rules.
(b) the Directors and each of them be and are hereby authorised and empowered to do all acts and things as they or he may consider necessary or expedient to give effect to this Resolution 1, including without limitation to the foregoing, to negotiate, sign, execute and deliver all documents, approve any amendments, alterations or modifications to any document (if required) in the interests of the Company, and, to the extent that any of the foregoing have been done, that they be and are hereby adopted, confirmed and ratified.

Note: Garrick, and his associates, will abstain from voting on this Resolution 1 in respect of their shareholdings, and will not accept nominations as proxies unless specific instructions have been given in the proxy instrument by the Shareholders appointing them on how they wish their votes to be cast.

BY ORDER OF THE BOARD OF

OTTO MARINE LIMITED

Yaw Chee Siew
Executive Chairman
19 June 2014

Notes:

(1) A member of the Company entitled to attend and vote at the Extraordinary General Meeting is entitled to appoint not more than two (2) proxies to attend and vote in his stead. Where such member appoints more than one (1) proxy, he/she shall specify the proportion of his/her shareholding to be represented by each proxy. A proxy need not be a member of the Company. If the member is a corporation, the instrument or form appointing the proxy must be executed under seal or the hand of its duly authorised officer or attorney.
(2) The instrument or form appointing a proxy, duly executed, must be deposited at the registered office of the Company's share registrar, M & C Services Private Limited, 112 Robinson Road,
#05-01, Singapore 068902, not less than forty eight (48) hours before the time appointed for holding the Extraordinary General Meeting in order for the proxy to be entitled to attend and vote at the Extraordinary General Meeting.

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