ANNOUNCEMENT IN RELATION TO LEWEK CHAMPION SHIPPING PTE LTD

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company”, together with its subsidiaries and associated companies, the “Group”) refers to its announcement made on 12 March 2017, 18 April 2017 and 9 May 2017 (“9 May Announcement”). All capitalised terms not defined shall have the same meaning as set out in the 9 May Announcement.

The Winding Up Application against Lewek Champion Shipping Pte Ltd has been adjourned to be heard on 14 July 2017.

Further announcements will be made by the Company and the Board via SGXNET and Newsweb as and when there are any material developments in compliance with the listing rules of the Singapore Exchange Securities Trading Limited and the Norwegian Securities Trading Act.

When in doubt as to the action they should take, shareholders and potential investors should consult their financial, tax or other advisers.

This announcement is subject to disclosure in accordance with section 5-12 of the Norwegian Securities Trading Act.

By Order of the Board

Shannon Ong

Company Secretary

31 May 2017