General Announcement::Establishment of an Indirect 50% Owned Subsidiary in the United Arab Emirates

MERMAID MARITIME PUBLIC COMPANY LIMITED บรษิ ทั เมอรเ์ มด มารไิ ทม ์ จาํ กดั (มหาชน)

(Reg. No. 0107550000017)

26/28-29, 9th Floor Orakarn Bldg., Soi Chidlom, Ploenchit Road,

Lumpinee, Pathumwan, Bangkok 10330, Thailand. Tel.: [phone]~6; Fax: [phone]

ESTABLISHMENT OF AN INDIRECT 50% OWNED SUBSIDIARY

IN THE UNITED ARAB EMIRATES

Mermaid Maritime Public Company Limited (the "Company") wishes to announce the establishment of an indirect 50% owned subsidiary in the United Arab Emirates. Details of the subsidiary are set out below:

Name of Entity:	Millennium 3 Ship Management and Operations DMCCO (the "Subsidiary")
Type of Entity	Dubai Maritime City Company
Place of Incorporation:	Dubai Maritime City, United Arab Emirates
Issued & Paid-Up Capital:	AED 1,000,000.00
Shareholding:	50% held by Mermaid Subsea Oil and Gas Services DMCEST
Primary Activity:	Manage and operate the vessel "Millennium 3"

Mermaid Subsea Oil and Gas Services DMCEST is an indirect wholly owned subsidiary of the Company with the primary activity of provision of subsea and related services to the oil and gas industry.

The investment is funded from internal resources and the transaction is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the current financial year.

None of the directors or substantial shareholders of the Company has any interest, whether directly or indirectly, in the above save for their directorships and shareholdings (if any) in the Company and/or the Subsidiary.

Please be informed accordingly.

Kanes Supyaboonrod Company Secretary 10 April 2022

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