The board of directors of Jason Marine Group Limited (the Company) announced that the Group has incorporated a wholly-owned subsidiary in Spain, Jason Marine Electronics Canary Islands, S.L. ("JMCI") with an initial issued and paid-up share capital of EUR 3,000 comprising 3,000 ordinary shares, held by the Company's indirect wholly-owned subsidiary, Jason Marine Electronics Spain, S.L. The principal activities of JMCI are those of providing marine electronics equipment and related services to vessels. The incorporation of JMCI is funded through internal resources 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 March 2024.