Mermaid Maritime Public Company Limited announce that its joint-venture company formed between Mermaid and a local offshore services operator has secured a one-year contract extension for offshore inspection, repair and maintenance services with a national upstream oil and gas company in direct continuation to its current contract, which commenced in 2012. Mermaid will continue to provide a suite of diving services using its DP2 saturation dive support vessel "Mermaid Asiana" along with remotely operated vehicles, specialized diving equipment and divers. Mermaid's joint venture partner, a reputable offshore and marine services company, will provide other offshore vessel related services and logistics. Mermaid's portion of the total contract value for the one-year extension period is estimated to be approximately USD 125 million, including several medium-term subcontract awards. The contract
extension will continue until the fourth quarter 2025.