Rickmers Maritime : Use Of Proceeds From The Non-Underwritten Renounceable Rights Issue Completed On 20 May 2013

RICKMERS MARITIME

(Registration Number: 2007003)

(A business trust constituted under the laws of Singapore) Managed by Rickmers Trust Management Pte. Ltd. USE OF PROCEEDS FROM THE NON-UNDERWRITTEN RENOUNCEABLE RIGHTS ISSUE COMPLETED ON 20 MAY 2013 Unless otherwise defined or the context otherwise requires, all capitalised terms herein shall bear the same meaning as used in the offer information statement dated 29 April 2013 in relation to the Rights Issue (the "Offer Information Statement").

Further to the announcements on 26 July 2013 and 22 October 2013 on the use of proceeds from the Rights Issue that was completed on 20 May 2013, Rickmers Trust Management Pte. Ltd., as trustee- manager ("Trustee-Manager") of Rickmers Maritime ("RM") wishes to provide an update on the further utilisation of the net proceeds of US$78,466,049 (based on an exchange rate of US$1: S$1.2608) (the "Net Proceeds") as follows:

Purpose Amount Utilised US$

Repayment of bank loans 5,779,702

The above utilisation is in line with the intended use of the net proceeds stated in the Offer Information
Statement. Subsequent to the aforementioned, the Net Proceeds have been fully utilised.

BY ORDER OF THE BOARD RICKMERS TRUST MANAGEMENT PTE. LTD. as Trustee-Manager of Rickmers Maritime

Gerard Low Shao Khang
Chief Financial Officer
17 January 2014