Seatriumd together with its subsidiaries, refers to the announcement made by Sembcorp Marine Ltd dated 23 March 2022 in respect of the contract secured by Sembcorp Marine Rigs & Floaters Ptd Ltd, now known as Seatrium Energy, a subsidiary of the Group. The Contract was for the construction of a Wind Turbine Installation Vessel (“WTIV”), for Maersk Offshore Wind (“Maersk”) through its affiliate, for deployment at U.S. offshore wind farm, Empire Wind 1.

The Contract has a total value of approximately US$475 million (equivalent to about S$610 million(1)). As at the date of this announcement, the project is approximately 98.9% completed.

The Company wishes to inform that it received a notice of termination under the Contract on 9 October 2025. SEI will explore viable solutions, including with the end-customer, Empire Offshore Wind LLC.

SEI is currently reviewing the validity of the Notice of Termination, as well as the allegations set out therein. SEI is also evaluating its legal and commercial options in respect of the Contract, including the right to contest the Notice of Termination, and/or to commence legal proceedings to seek all available remedies for wrongful termination.

The Company will make appropriate announcements in the event of any material developments. Shareholders are advised to exercise caution when dealing with the shares
or other securities of the Group. 

(1) Computed based on US$1 = S$1.2825

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