The Board of Directors of Ezion Holdings Limited announced that it has entered into a joint venture agreement with SOE for the deployment of Service Rigs to support the offshore windfarm market. The SOE will be responsible for the integration of domestic requirements for the operations of Service Rigs in the offshore wind farm market in China. Ezion will be responsible for the technical, operational management and commercial aspects of the Service Rigs that will be chartered by the joint venture company.

The joint venture will be complementary to the strategic cooperation agreement with another Chinese state-owned enterprise to support offshore wind power installation projects in China pursuant to the announcement made on December 14, 2015. The agreement is not expected to have a material impact on the Group's earnings per share or net tangible assets per share for the financial year ending December 31, 2016.