General Announcement::Non-Binding Memorandum of Understanding in Relation to the Proposed Corporate Restructuring

Swissco Holdings Limited, along with its subsidiaries, is a Singapore-based integrated oil and gas service provider. The Company provides drilling rigs, accommodation jackups and vessel chartering services for the oil and gas industry. The Company's segments are Drilling, which includes drilling rig chartering; Offshore support vessels (OSV), which includes vessel chartering (such as sale of out-port-limit services), ship repair and maintenance services, maritime related services (such as sale of vessels) and OSV related investment activities; Service assets, which includes accommodation and service rig chartering, and Others segment, which includes corporate activities. Its OSV segment owns and operates a fleet of over 40 offshore support vessels that provide a range of offshore chartering services for the marine, offshore oil and gas, and civil construction industries. Its subsidiaries include Swissco Energy Services Pte Ltd, Swissco Offshore (Pte) Ltd and Seawell Drilling Pte Ltd.