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APPLICATION BY THE JUDICIAL MANAGERS OF EMAS OFFSHORE LIMITED FOR A FURTHER EXTENSION OF THE JUDICIAL MANAGEMENT ORDER AND TIME TO SUBMIT THE STATEMENT OF PROPOSALS AND CONVENE THE CREDITORS’ MEETING

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company”) refers to its announcements dated  20 December 2019 and 14 January 2020 (collectively, the “Announcements”) in relation to the Company’s application to the High Court of Singapore (“Court”) for an extension of the validity of the JM Order and time to submit the Statement of Proposals (as defined below) and convene the Creditors’ SOP Meeting (as defined below) (“Extension Application”). Unless otherwise defined, all definitions used herein bear the same meaning ascribed to them in the Announcements. On 10

OUTCOME OF APPLICATION BY THE JUDICIAL MANAGERS OF EMAS OFFSHORE LIMITED FOR AN EXTENSION

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company”) refers to its announcement dated 20 December 2019 (“Announcement”). Unless otherwise defined, all definitions used herein bear the same meaning ascribed to them in the Announcement.   The Company wishes to announce that the Court has, on 10 January 2020, granted the Judicial Managers’ Extension Application and accordingly:   1. the validity of the judicial management order granted in HC/ORC 7093/2019 has been extended for a period of 6 months from 20 April 2020 until 20 October 2020; and  2. the

APPLICATION BY THE JUDICIAL MANAGERS OF EMAS OFFSHORE LIMITED FOR AN EXTENSION OF THE JUDICIAL MANAGEMENT ORDER AND TIME TO SUBMIT THE STATEMENT OF PROPOSALS AND CONVENE THE CREDITORS’ MEETING

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company”) refers to its announcement dated 25 October 2019 in relation to the outcome of the Company’s application to be placed under judicial management pursuant to section 227B of the Companies Act (Cap. 50, 2006 Rev Ed) (“Companies Act”) (“JM Application”). Unless otherwise defined, all definitions used herein bear the same meaning ascribed to them in the 25 October 2019 announcement.   The Company announced that the Court had, on 21 October 2019, granted the Company’s JM Application and ordered, inter alia, that

UPDATE ON APPLICATION BY EMAS OFFSHORE LIMITED TO BE PLACED UNDER JUDICIAL MANAGEMENT

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) refers to its announcements on 22 July 2019 and 13 September 2019 in relation to the Company’s application in the High Court of the Republic of Singapore (“Court”) on 19 July 2019 for inter alia an order that the Company be placed under judicial management pursuant to Section 227B of the Companies Act (Cap. 50, 2006 Rev Ed) (“Companies Act”) (“JM Application”). Further to these announcements, the Company wishes to announce that the hearing of the JM Application

UPDATE ON APPLICATION BY EMAS OFFSHORE LIMITED TO BE PLACED UNDER JUDICIAL MANAGEMENT

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) refers to its announcement on 22 July 2019 in relation to the Company’s application in the High Court of the Republic of Singapore (“Court”) on 19 July 2019 for inter alia an order that the Company be placed under judicial management pursuant to Section 227B of the Companies Act (Cap. 50, 2006 Rev Ed) (“Companies Act”) (“JM Application”). The JM Application will be heard by the Court on 23 September 2019, 10am. The Company will provide further updates

APPLICATION BY EMAS OFFSHORE LIMITED TO BE PLACED UNDER JUDICIAL MANAGEMENT

1.         Introduction The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) wishes to announce that the Company has filed an application in the High Court of the Republic of Singapore (“Court”) on 19 July 2019 for inter alia an order that the Company be placed under judicial management pursuant to Section 227B of the Companies Act (Cap. 50, 2006 Rev Ed) (“Companies Act”) (“JM Application”). The JM Application will be heard on a date to be fixed by the Court. 2.         Moratorium Pursuant to section 227C

TERMINATION OF NON-BINDING TERM SHEET FOR PROPOSED INVESTMENT

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) refers to its announcement made on 26 October 2018 (“Previous Announcement”) in relation to a non-binding term sheet dated 25 October 2018 (“Non-Binding Term Sheet”) between the Company and its wholly-owned subsidiary, Emas Offshore Pte Ltd (“EOPL”), and Udenna Corporation (“Udenna”) in connection with a proposed transaction (“Proposed Transaction”) as part of the financial restructuring of the Group (“Restructuring”). Unless otherwise defined, terms used in the

RESIGNATION OF CHIEF FINANCIAL OFFICER

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company”) wishes to announce that Mr Hsu Chong Pin has tendered his resignation as Chief Financial Officer of the Company with his last working day of service being 7 December 2018. The Board would like to express its appreciation to Mr Hsu for his contributions during his tenure with the Company and wishes him well in his future endeavours. This announcement is subject to disclosure in accordance with section 5-12 of the Norwegian Securities Trading Act. By Order of the Board Lee Kian Soo Director 7

ANNOUNCEMENT RELATING TO THE DECISION MADE BY THE STOCK EXCHANGE APPEALS COMMITTEE

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) refers to the announcements released by the Company on 15 February 2018, 19 February 2018, 16 August 2018 and 7 September 2018, as well as the announcement released by the Oslo Stock Exchange (“OSE”) on 15 August 2018 (“OSE Announcement”). As stated in the OSE Announcement, the Financial Supervisory Authority of Norway (“FSA”) had on 15 August 2018 resolved to impose the OSE to delist the shares of the Company pursuant to section 25(3) of the Norway Stock Exchange

ANNOUNCEMENT RELATING TO THE DECISION MADE BY THE STOCK EXCHANGE APPEALS COMMITTEE

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) refers to the announcements released by the Company on 15 February 2018, 19 February 2018 and 16 August 2018, as well as the announcement released by the Oslo Stock Exchange (“OSE”) on 15 August 2018 (“OSE Announcement”). As stated in the OSE Announcement, the Financial Supervisory Authority of Norway (“FSA”) had on 15 August 2018 resolved to impose the OSE to delist the shares of the Company pursuant to section 25(3) of the Norway Stock Exchange Act (the “

ANNOUNCEMENT RELATING TO THE DECISION MADE BY THE STOCK EXCHANGE APPEALS COMMITTEE

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) refers to the announcement released by the Company on 15 February 2018, 19 February 2018 and the announcement released by the Oslo Stock Exchange (“OSE”) on 15 August 2018 (“OSE Announcement”) (please see Appendix A). As stated in the OSE Announcement, the Financial Supervisory Authority of Norway (“FSA”) has on 15 August 2018 resolved to impose the OSE to delist the shares of the Company pursuant to section 25(3) of the Norway Stock Exchange Act (the “Decision”).

ANNOUNCEMENT RELATING TO THE DECISION MADE BY THE STOCK EXCHANGE APPEALS COMMITTEE

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company”) refers to: (a)        its previous announcements dated 15 February 2018 and 19 February 2018; and (b)        the announcement released by the Oslo Stock Exchange on 18 April 2018 (“OSE Announcement”). Unless otherwise defined, terms used in the OSE Announcement shall have the same meanings when used herein. As stated in the OSE Announcement, the Stock Exchange Appeals Committee has repealed the Oslo Stock Exchange’s resolution of 16th February to delist the Company from the Oslo Stock Exchange (the “

ANNOUNCEMENT IN RELATION TO LEASED-IN VESSEL “LEWEK AVIOR”

1.         VOLUNTARY REDELIVERY OF LEASED-IN VESSEL LEWEK AVIOR BY EOPL AS ACCEPTED BY OWNER 1.1        The Board of Directors (the “Board”) of Emas Offshore Limited (the “Company”, together with its subsidiaries and associated companies, the “Group”) wishes to announce that a notice of termination dated 29 March 2018 (“Avior Notice of Termination”) was given to Emas Offshore Pte. Ltd. (“EOPL”), an indirect wholly owned subsidiary of the Company, to terminate the Bareboat Charter dated 26 April 2011 (“Avior Charter”) between Marina Aquata Shipping Pte. Ltd. (the “Owner”) and EOPL in

ANNOUNCEMENT RELATING TO THE DECISION BY THE OSLO STOCK EXCHANGE TO DELIST THE SHARES OF EMAS OFFSHORE LIMITED

The Board of Directors (the “Board”) of EMAS Offshore Limited (the “Company” and together with its subsidiaries, the “Group”) refers to the announcement released by the Oslo Stock Exchange on 19 February 2018 (please see Appendix A). The Company also refers to its recent announcement dated 15 February 2018 (“15 February 2018 Announcement”). Unless otherwise defined, all capitalised words shall bear the same meaning as set out in the 15 February 2018 Announcement. The Oslo Stock Exchange has resolved to delist the shares of the Company with effect from 27 April 2018 due chiefly to

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