The board of directors of ES Group (Holdings) Limited announced Incorporation of a New Subsidiary. The Board announced that, for the purpose of registering ES Jewel with the Singapore Registry of Ships, ES Chartering had on 11 March 2021 incorporated a new wholly-owned subsidiary, ES Jewel Pte. Ltd. ("ESJ"), in Singapore (the "Incorporation"), with an initial issued and fully paid-up share capital of SGD 50,000, comprising 50,000 ordinary shares. The principal activities of ESJ are those of chartering and freight water transport activities. The Incorporation is funded through internal resources of the Group and is not expected to have any material impact on the earnings per share or net tangible assets per share of the Group for the current financial year ending 31 December 2020. None of the Directors, substantial shareholders of the Company or their respective associates (as defined in the Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist Rules) has any interest, direct or indirect, in the Incorporation, other than through their respective shareholdings and/or directorships, as the case may be, in the Company.