29 OCT 2015

Following the previous announcement of The National Shipping Company of Saudi Arabia (Bahri) on August 20, 2013 and November 23, 2014 regarding the Memorandum of Understanding (MoU) with Saudi Arabian Oil Company (Saudi Aramco) and Sembcorp Marine (Singaporean company) on developing an international Maritime Yard for shipbuilding and offshore manufacturing, Bahri announces that the mentioned MoU has expired as of 29 October 2015,without any financial commitments and The parties intend to continue their discussion and sign a new MoU or extend the expired MoU. Bahri will make an announcement when it signs the MoU or if any material development takes place.