The company’s subsidiary Norley reinvested its subsidiary Steady Way Limited to purchase a bulker. (Revise material information on Oct. 21, 2022)

1.Name and nature of the underlying asset (e.g., land located at Sublot XX, Lot XX, North 
District, Taichung City): Kamsarmax Bulker 2012 built in Japan, 82,113 DWT.
2.Date of occurrence of the event:2022/10/25
3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping), unit price, and 
total transaction price: One Kamsarmax Bulker for US$25,750,000.
4.Trading counterparty and its relationship with the Company (if the trading counterparty is 
a natural person and furthermore is not a related party of the Company, the name of the 
trading counterparty is not required to be disclosed): 
Green Spanker Shipping S.A., non-related party.
5.Where the trading counterparty is a related party, announcement shall also be made of the 
reason for choosing the related party as trading counterparty and the identity of the 
previous owner, its relationship with the Company and the trading counterparty, and the 
previous date and monetary amount of transfer:NA
6.Where an owner of the underlying assets within the past five years has been a related 
party of the Company, the announcement shall also include the date and price of acquisition 
and disposal by the related party, and its relationship with the Company at the time of the 
transaction:NA
7.Projected gain (or loss) through disposal (not applicable for acquisition of assets; those 
with deferral should provide a table explaining recognition):NA
8.Terms of delivery or payment (including payment period and monetary amount), restrictive 
covenants in the contract, and other important terms and conditions:
15% of payment within 3 working days after signing the MOA and 85% of payment no later than 
3 working days prior to the expected date of Notice of Readiness.
9.The manner of deciding on this transaction (such as invitation to tender, price 
comparison, or price negotiation), the reference basis for the decision on price, and the 
decision-making unit: Price negotiation. The Board of Directors.
10.Name of the professional appraisal firm or company and its appraisal price: 
Arrow Valuations, US$26,000,000.
11.Name of the professional appraiser:NA
12.Practice certificate number of the professional appraiser:NA
13.The appraisal report has a limited price, specific price, or special price:NA
14.An appraisal report has not yet been obtained:NA
15.Reason for an appraisal report not being obtained:NA
16.Reason for any significant discrepancy with the appraisal reports and opinion of the CPA:NA
17.Name of the CPA firm:NA
18.Name of the CPA:NA
19.Practice certificate number of the CPA:NA
20.Broker and broker's fee:None
21.Concrete purpose or use of the acquisition or disposal: Fleet expansion.
22.Any dissenting opinions of directors to the present transaction:No.
23.Whether the counterparty of the current transaction is a related party:No.
24.Date of the board of directors resolution:NA
25.Date of ratification by supervisors or approval by the audit committee:NA
26.The transaction is to acquire a real property or right-of-use asset from a related party:No.
27.The price assessed in accordance with the Article 16 of the Regulations Governing the 
Acquisition and Disposal of Assets by Public Companies:NA
28.Where the above assessed price is lower than the transaction price, the price assessed in 
accordance with the Article 17 of the same regulations:NA
29.Any other matters that need to be specified:None