To provide guarantee for subsidiaries- Brighton Shipping Inc. and Rockwell Shipping Limited for sale and leaseback of Vessel.

To provide guarantee for subsidiaries- Brighton Shipping Inc. and Rockwell Shipping Limited for sale and leaseback of Vessel.

1.Date of occurrence of the event:2019/01/21

2.Company name: Sincere Navigation Corporation

3.Relationship to the Company (please enter ”head office” or ”subsidiaries”): Head Office.

4.Reciprocal shareholding ratios:N/A.

5.Cause of occurrence:For the transaction of sale and leaseback with purchase option of Vessel ”Chin Shan” and ”Chou Shan” held by subsidiary Brighton Shipping Inc. and Rockwell Shipping Limited, the Company will be the guarantor with respect to the obligations under the Bareboat Charter. Expected outstanding guarantee amount (in thousands):US$17,997 for Brighton Shipping Inc. and US$17,679 for Rockwell Shipping Limited.

6.Countermeasures:Have assessed the sale and leaseback transaction and followed the Procedures for Endorsement & Guarantee.

7.Any other matters that need to be specified:N/A.