Prime Marine Corporation

Acquisition of FSL Holdings Pte. Ltd. (Sponsor of the FSL Trust)

Prime is pleased to announce the acquisition of FSL Holdings Pte. Ltd., taking over the control of the Trustee-Manager of First Ship Lease Trust (“FSL”), a Singapore-based business trust which currently owns a diversified fleet of 19 modern and high-spec oceangoing vessels across major shipping sub-sectors. The units of FSL are traded on the Singapore stock exchange (SGX-ST: D8DU).