Watts International Maritime Company Limited announced that on 25 September 2020 in relation to, among others, the Master Construction Services Agreement. As the Master Construction Services Agreement will expire on 31 December 2022, on 7 December 2022 (after trading hours), the Company as service provider and Watts Gallop as service recipient entered into the 2023­2025 Master Construction Services Agreement, pursuant to which the
Group will provide engineering construction services to Watts Gallop Group from 1 January 2023 to 31 December 2025, subject to the terms and conditions provided under the 2023 2025 Master Construction Services Agreement. Pursuant to the 2023­2025 Master Construction Services Agreement, the Group will, if engaged by Watts Gallop Group, provide engineering construction services to Watts Gallop Group. The engineering construction services shall include but not limited to (i) marine engineering construction services, (ii) municipal public engineering construction services and (iii) other engineering construction services that may be provided by the Group. Term: The 2023­2025 Master Construction Services Agreement will be effective for three years from 1 January 2023 until 31 December 2025.