The Board of Directors of Marco Polo Marine Ltd. announced that the Company's indirect wholly-owned subsidiary, Marco Polo Wind Private Limited, has incorporated a wholly-owned company in Singapore, MP Windcraft Pte. Ltd., with an initial issued and paid-up capital of SGD 2. The principal activity of MP Windcraft is ship owning and chartering. The incorporation of MP Windcraft is funded through internal resources and is not expected to have any material impact on the consolidated net tangible assets or earnings per share of the Group for the current financial year ending 30 September 2023.

None of the Directors, substantial shareholders or controlling shareholders of the Company has any interest, direct or indirect, in the incorporation of MP Windcraft, other than through their respective interests (if any) in the Company.