Acquisitions and disposals of assets:: disposal of assets and transaction with an interested party

MERMAID MARITIME PUBLIC COMPANY LIMITED บริษัท เมอร์เมด มาริ ไท ม์ จํา กัด (มหาชน) (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) 2-255-10791 ASSET DISPOSITION AND INTERESTED PARTY TRANSACTIONS Hermaid Maritime Public Company Limited (the “MML”) wishes to announce that Mermaid International Ventures (the “Seller”), a wholly owned subsidiary of Mermaid Maritime Mauritius Ltd., which in turn is a wholly owned subsidiary of MML, has separate agreements with Thor Friendship Shipping Pte. Ltd. (the “Buyer”) a wholly owned subsidiary of Thoresen Thai Agencies Public Company Limited (“TTA”), through which the Buyer will purchase, and the Seller will sell (the “Arrangement”), a number of related assets digital currencies (the “Assets”) .1. CHAPTER 9 LISTING RULES – INTERESTED PERSON: TTA holds 58.22% of the total share capital of MML and, as the majority shareholder, is an interested person. This stake is owned by TTA both directly and indirectly. [TTA holds directly 49.53 percent and indirectly, through two (02) of its 99.99 and 100 percent owned subsidiaries, 1.44 percent through Athene Holdings Ltd., and 7.25 percent through Soleado Holdings Pte. Ltd. respectively]In addition to TTA, the following people are also interested: TTAMMLName% Name% Major1. Mr. Chalermchai Mahagitsiri 23,151. M. Chalermchai Mahagitsiri 24.13 Shareholder * (Holding both direct and indirect via the depositary) (Holding both direct and indirect via TTA * and MML **) Directors 1. Mr. Prasert Bunsumpun 2. Mr. Chalermchai Mahagitsiri 3. Mr. Jean Paul Thévenin 1. Mr. Prasert Bunsumpun 2. Mr. Chalermchai Mahagitsiri 3. Mr. Jean Paul TheveninDirector 1. Mr. Vincent Siaw PURCHASER (as of May 19, 2021) SELLER (as of January 11, 2021) Name% Name% Major1. Mr. Chalermchai Mahagitsiri 23,151. M. Chalermchai Mahagitsiri 24.13 Shareholder (Holding indirectly via TTA *) (Holding indirectly via TTA * and MML **) Directors 1. Mr. Chalermchai Mahagitsiri 1. Mr. Chalermchai Mahagitsiri 2. Mr. Vincent Siaw

MERMAID MARITIME PUBLIC COMPANY LIMITED บริษัท เมอร์เมด มาริ ไท ม์ จํา กัด (มหาชน) (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) 2-255-10792 * The last accounting closing of TTA on December 30, 2021 * The last accounting closing of MML on March 12, 20212. FINANCIAL INFORMATION AND CONSIDERATION The total consideration of the Assets is therefore 4,930,370, US $ 00 (four million nine hundred and thirty thousand three hundred and seventy US dollars) (the “Consideration”). JUSTIFICATION FOR THE LAYOUT AND USE OF PROCEEDSMML considers that it is in its best interest to monetize the Assets in order to redeploy the resources. The net proceeds from the sale will be made available to MML’s working capital. 4. COMPLETION Full consideration has been received by the seller and, in accordance with the S&P Agreement, the seller and buyer have agreed to complete the transfer of the assets within a mutually acceptable time frame taking into account the relevant rules governing the various assets. 5. PRO FORMA FINANCIAL EFFECTS OF THE DISPOSAL 5.1 The pro forma financial effects of the Disposal on the net tangible fixed assets (the “NTA” per share and the earnings per share of MML and the share capital of MML as indicated below are prepared purely for information purposes and do not reflect the actual future financial position of MML after the disposal. The pro forma financial statements have been prepared on the basis of the latest audited consolidated financial statements announced by MML for the year ended December 31, 2020 ( the “2020 financial year”), this financial year being the last closed financial year audited.

MERMAID MARITIME PUBLIC COMPANY LIMITED บริษัท เมอร์เมด มาริ ไท ม์ จํา กัด (มหาชน) (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) 2-255-10793 5.2 Net tangible assets – FY2020 For illustrative purposes only and assuming that the Sale was completed on December 31, 2020, i.e. the end of FY2020, the effect on the NTA per share of MML as of December 31, 2020 is as follows: Before the proposed divestment After the proposed divestment assuming the divestiture has been completed on January 1, 2020 being the start of fiscal 2020, the effect on MML’s earnings per share for fiscal 2020 is as follows: before disposal After disposal Profit / loss attributable to shareholders (in thousands of US dollars) (109,654) (109,724) Number of common shares outstanding (in thousands of US dollars) 1,413 3291 413 329 Earnings per share (US cents) (0.0776) (0.0776) 5.4 Share capital The sale will have no impact on the issued share capital of MML. 6. CHAPTER 10 OF THE LISTING MANUAL 6.1 Rule 1006 Relative figures for the sale Rule 1006Bases Relative figures (%) (a) Net asset value in relation to the net asset value of MML (financial year 2020) 2.78 (b) Profit net attributable to Assets compared to the net loss of MML-

MERMAID MARITIME PUBLIC COMPANY LIMITED บริษัท เมอร์เมด มาริ ไท ม์ จํา กัด (มหาชน) (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) 2-255-10794 (c) The consideration received compared to the market capitalization of MML6.327. INTERESTS OF DIRECTORS AND CONTROL SHAREHOLDERS Except for their interests in the shares of MML (if applicable), none of the Directors or controlling shareholders of MML has any interest, direct or indirect, in the Transfer. 8. DIRECTORS ‘SERVICE CONTRACTS No person is proposed to be appointed director of MML in the context of the Sale. Consequently, no service contract is offered between MML and such a person within the framework of the Assignment. 9. DOCUMENTS AVAILABLE FOR INSPECTION Copies of contract documents are available for inspection during normal business hours at MML Headquarters at No.26 / 28-29 Orakarn Building, 09thFloor, Soi Chidlom, Ploenchit Road, Lumpinee, Pathumwan, Bangkok 10330, Thailand for a period of three (03) months from the date of this announcement Please be advised accordingly.James FrawleyContract ManagerJanuary 07, 2022

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