Sincere Navigation Corporation elected Remuneration Committee as follows: name and resume of the replaced member: (1) Lee Yann-Song (17th President of Certified Public Accountant R.O.C.), (2) Fan Kuang-Nan (former general manager of Taiwan Shipbuilding Corp.), (3) Liu Sung Tien (former manager of Mega International Commercial Bank Co., Offshore Banking Branch) and name and resume of the new member: (1) Lee Yann-Song (17th President of Certified Public Accountant R.O.C.), (2)Fan Kuang-Nan (former general manager of Taiwan Shipbuilding Corp.), (3) Liu Sung Tien (former manager of Mega International Commercial Bank Co., Offshore Banking Branch). Effective date of the new member is July 26, 2016.