UPDATE REGARDING FINANCIAL CALENDAR

Reference is made to the previous announcement dated 4 April 2017 made by EMAS Offshore Limited ("EOL" or the "Company") regarding the revised financial calendar.

Due to the current and continuing financial challenges experienced by EOL, the Company will not be able to release the Q3 FY2017 Report on 7 July 2017 as previously announced.

It is furthermore uncertain when and to which extent the Company will be able to release the relevant and future financial statements. Further updates will be provided as and when they arise.

Consequently, the revised tentative Financial Calendar 2017 is as follows:

Q1 FY2017 Report

−         10 January 2017 (Announced)

Q2 FY2017 and first half semi-annual FY2017 Report

−         To be advised

Annual Financial Report 2016

−         To be advised

AGM 2017

−         To be advised

Q3 FY2017 Report

−         To be advised

Q4 FY2017 and preliminary FY 2017

−         20 October 2017

This announcement is made pursuant to the Oslo Stock Exchange's Continuing Obligations section 4.6 and is subject to disclosure in accordance with the Norwegian Securities Trading Act section 5-12.

The Company is dual listed on the Oslo Stock Exchange and the Singapore Stock Exchange. 2

For further information, please contact:

Mr. Hsu Chong Pin

EMAS Offshore Limited

Tel: +65 6800 1202

investor_relations@emasoffshore-cnp.com

5 July 2017