Vard (formerly: STX OSV)

[cyclone]

Extension of Closing Date

Citigroup, for and on behalf of the Offeror, announced that the Closing Date for the Exit Offer is extended from 5.30 p.m. (Singapore time) on 8 August 2018 to 5.30 p.m. (Singapore time) on 24 August 2018 or such later date(s) as may be announced from time to time by or on behalf of the Offeror.

As at 5.00 p.m. (Singapore time) on 7 August 2018:
1. the total number of Shares owned, controlled or agreed to be acquired by the Offeror and its Concert parties (including valid acceptances of the Exit Offer) amount to an aggregate of 1,092,381,178 Shares, representing approximately 92.57 per cent. of the total number of Shares; and

2. the total number of Shares owned, controlled or agreed to be acquired by the Offeror, its related corporations and their respective nominees (including valid acceptances of the Exit Offer) amount to an aggregate of 1,092,381,178 Shares, representing approximately 92.57 per cent. of the total number of Shares.