Wintermar wins 5-year contract for 2 OSVs supporting Indonesian Oilfield

Wintermar will supply 2 units of Anchor Handling Tug Supply vessels to support production off the northern coast of East Java for a period of 5 years. The vessels will support an FPSO (Floating Production Storage Offtake) unit in a producing field. The total contract value of the contract for this project amounts to US$ 22 Million.

"We are pleased to have been selected to support this project by a leading multinational oil and gas company. This affirms our clients' recognition of Wintermar's committed efforts to ensure high standards of quality, health and safety," said Sugiman Layanto, Managing Director of PT Wintermar Offshore Marine Tbk. "This long term contract underlines the Indonesian government commitment to invest heavily to raise the country's output of oil and gas after some years of decline. Wintermar as the leader in the domestic offshore vessel industry is ready to play our role."

As at 24 May 2021, the Company's contracts on hand amount to USD 76.7 million.

--Building growth and sustainability for the coming recovery

As the oil industry is recovering globally, there are more projects being reactivated again. The Management has been studying some potential projects to position for a recovery. During the past two years, the Company has sold many older vessels and reduced gearing to 31% by end December 2020. Overhead costs have been significantly reduced and the company has a strong commitment to sustainability.

--Commitment to Seafarers' wellbeing

Wintermar has also signed our commitment to the Neptune Declaration on Seafarers Wellbeing and Crew change. Recognising that the COVID-19 pandemic has caused a lot of disruption and impacted thousands of crew around the world, signatories to the Neptune Declaration recognize that seafarers are key workers pledges to pursue best practices for health protocols, speed up access to vaccinations and collaborate to do what is necessary to protect seafarers and expedite crew change. More information can be read here: https://www.globalmaritimeforum.org/content/2020/12/The-Neptune-Declaration-on-Seafarer-Wellbeing-and-Crew-Change.pdf

About Wintermar Offshore Marine Group

Wintermar Offshore Marine Group (WINS.JK), developed over nearly 50 years with a track record of quality that is both a source of pride and responsibility that we are dedicated to upholding, and sails a fleet of more than 48 Offshore Support Vessels ready for long term as well as spot charters. All vessels are operated by an experienced Indonesian crew, tracked by satellite systems and monitored in real-time by shore-based Vessel Teams.

Wintermar is the first shipping company in Indonesia to be certified with an Integrated Management System by Lloyd's Register Quality Assurance, and is currently certified with ISO 9001:2015 (Quality), ISO14001:2015 (Environment) and OHSAS 18001:2007 (Occupational Health and Safety). For more information, please visit www.wintermar.com.

For further information, please contact:Ms. Pek Swan Layanto, CFAInvestor RelationsPT Wintermar Offshore Marine TbkTel +62-21 530 5201Email: investor_relations@wintermar.com

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