Seatrium : Signs Multi-Year Technology Collaboration Agreement with ABS to Accelerate Decarbonisation and Energy Transition

Company Registration Number: 196300098Z

Seatrium Signs Multi-Year Technology Collaboration Agreement with ABS

to Accelerate Decarbonisation and Energy Transition

SINGAPORE, 8 May 2024 - Seatrium, a global provider of engineering solutions to the offshore, marine, and energy industries, has announced a three-year Technology Collaboration Agreement (TCA) with ABS (American Bureau of Shipping) at the Offshore Technology Conference (OTC) 2024 in Houston, Texas. This agreement builds on the successful history of collaboration between the two organisations and aims to accelerate decarbonisation and energy transition in the maritime and offshore sectors.

The TCA with ABS, aptly titled "Accelerating Decarbonisation & Energy Transition", will focus on four key themes: Decarbonisation, Electrification, New Energies, and Digital Transformation. The goal is to develop and commercialise green retrofit products and services, including but not limited to carbon capture, energy efficiency enhancement measures such as air lubrication systems and wind assisted propulsion as well as the integration of low/zero carbon energy sources on offshore assets, electrification, and digital technologies.

Mr Chris Ong, CEO of Seatrium, said, "Seatrium is making significant strides in our visionary approach to engineering a sustainable, low-carbon energy future. This progress is achievable through pivotal industry collaborations with organisations like ABS. We are more than just partners; we are natural allies united by a shared mission and driven by a powerful vision for a sustainable future. ABS and Seatrium have achieved great successes through our previous collaborations, and we are committed to harnessing our distinct strengths and capabilities to push the boundaries and transform the way we approach decarbonisation, energy transition, and digital transformation."

Dr Christopher J. Wiernicki, Chairman and CEO of ABS, said, "Together, ABS and Seatrium have a remarkable history of pioneering the technological frontiers in the marine and offshore industries. Our shared vision for the future, combined with our twin cultures of innovation and collaboration, mean we are well placed to safely deliver the rapid technological advance our industry needs if we are to meet emissions targets and capitalise on the opportunities offered by decarbonisation and digitalisation."

Caption: Seatrium and ABS mark partnership at OTC 2024 to accelerate decarbonisation and energy transition. The multi-year Technology Collaboration Agreement was signed by (seated from right to left) Mr Chris Ong, CEO of Seatrium, and Dr Christopher J. Wiernicki, Chairman and CEO of ABS; witnessed by (standing from right to left) Mr Mark Gainsborough, Chairman of Seatrium, Mr John McDonald, President and Chief Operating Officer of ABS, and Mr Miguel Hernandez, Senior Vice President of Global Offshore at ABS (Photo: Seatrium Limited)

About ABS

ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. Focused on safe and practical application of advanced technologies and digital solutions, ABS works with industry and clients to develop accurate and cost-effective compliance, optimised performance, and operational efficiency for marine and offshore assets.

About Seatrium Limited

Seatrium Limited provides innovative engineering solutions to the global offshore, marine and energy industries. Headquartered in Singapore, the Group has over 60 years of track record in the design and construction of rigs, floaters, offshore platforms and specialised vessels, as well as in the repair, upgrading and conversion of different ship types.

The Group's key business segments include Oil & Gas Newbuilds and Conversions, Offshore Renewables, Repairs & Upgrades, and New Energies, with a growing focus on sustainable solutions to advance the global energy transition and maritime decarbonisation.

As a premier global player offering offshore renewables, new energies and cleaner offshore & marine solutions, Seatrium is committed to delivering high standards of safety, quality and performance to its customers which include major energy companies, vessel owners and operators, shipping companies, and cruise and ferry operators.

Seatrium operates shipyards, engineering & technology centres and facilities in Singapore, Brazil, China, India, Indonesia, Japan, Malaysia, the Philippines, Norway, the United Arab Emirates, the United Kingdom and the United States.

Discover more at www.seatrium.com.

For more information, please contact:

Ms Judy Tan

Head, Investor Relations and Corporate Communications

Tel No: +65 9710 9784

Email:judy.tan@seatrium.com

Ms Clarissa Ho

Senior Manager, Investor Relations and Corporate Communications

Tel No: +65 9632 1253

Email:shufang.ho@seatrium.com