MERMAID MARITIME PUBLIC COMPANY LIMITED

บริษทั เมอร ์เมด มาริไทม์(จํากดัมหาชน)

(Reg. No. 0107550000017)

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

Lumpinee, Pathumwan, Bangkok 10330, Thailand.

Tel.: +66 (0) 2-255-3115~6; Fax: +66 (0) 2-255-1079

MERMAID SUBSIDIARY CHARTERS-IN DP2 'VAN GOGH' FOR TWO

(2) YEARS

Vessel to support Mermaid Subsea Services (International) Ltd., comes on the back of secured work and anticipated continual demand in worldwide operations for essential subsea services

Mermaid Maritime Public Company Limited ("Mermaid" or the "Company") wishes to announce that our subsidiary, Mermaid Subsea Services (International) Ltd. ("MSSI") has entered into a two (02) year charter-in contract for the DP2 Diving Support Construction Vessel ("DSCV") 'Van Gogh' (the "Contract"). The vessel has been delivered to MSSI.

The DSCV 'Van Gogh' comes with built-in saturation diving and air diving system, 120 beds, and a 150 ton crane. The vessel will undertake inspection, repairs, and maintenance contracts as well as perform saturation diving in support of construction interventions, and ongoing field maintenance and call out repair.

MSSI has chartered-in this DSCV, and will deploy her to support its various subsea projects commencing in February 2022. The Contract also comes with two (02) one (01) year extension options, which, if exercised, would extend the charter period through to February 2026.

Mermaid's subsidiary, Mermaid Subsea Services (Thailand) Ltd., has already secured subsea contracts worth circa USD 12 million, that will utilize this DSCV for a scheduled duration of approximately 120 days, expected to end in June 2022. In the interim, Mermaid is actively bidding more work in the Asia Pacific.

In addition to the above, for the intermediate term, Mermaid is also targeting utilizing the DSCV Van Gogh for several prospective longer term projects in West Africa.

Interest of Directors and Controlling Shareholders

None of the directors or controlling shareholders of the Company has any interest, direct, or indirect, in the Contract. There are also no new directors proposed to be appointed to the Company in connection with the Contract.

Please be informed accordingly.

James Frawley

Contracts Manager

08th February 2022

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Mermaid Maritime Public Company Limited published this content on 08 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2022 08:48:03 UTC.