BOD Approved puchase of one LPG Carrier from Murakami Hide

30/10/2020

1. Name and nature of the underlying asset (e.g., land located at Sublot XX, Lot XX, North District, Taichung City):
one 5000 CBM LPG Carrier

2. Date of occurrence of the event: 2020/10/30

3. Transaction unit amount (e.g.XX square meters, equivalent to XX ping), unit price, and total transaction price:
Transaction volume: one LPG Carrier
Unit price: No more than JPY1,880,000,000 per vessel
Total amount: No more than JPY1,880,000,000 per vessel

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):
Murakami Hide
Not related.

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:Not Applicable

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: Not Applicable

7. Projected gain (or loss) through disposal (not applicable for acquisition of assets; those with deferral should provide a table explaining recognition): Not Applicable

8. Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important terms and conditions:
In installments until the deliveries.

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:
The manner of deciding on this transaction: Price negotiation
The reference basis for the decision on price: Price negotiation
The decision-making department: Board of Directors

10. Name of the professional appraisal firm or company and its appraisal price:Not Applicable

11. Name of the professional appraiser: Not Applicable

12. Practice certificate number of the professional appraiser:Not Applicable

13. The appraisal report has a limited price, specific price, or special price: NA

14. An appraisal report has not yet been obtained: Not Applicable

15. Reason for an appraisal report not being obtained: The asset is operating asset which do not require an appraisal report.

16. Reason for any significant discrepancy with the appraisal reports and opinion of the CPA: Not Applicable

17. Name of the CPA firm: Not Applicable

18. Name of the CPA: Not Applicable

19. Practice certificate number of the CPA: Not Applicable

20. Broker and broker's fee: None.

21. Concrete purpose or use of the acquisition or disposal: Portfolio management

22. Any dissenting opinions of directors to the present transaction: None.

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: Not Applicable

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: Not Applicable

29. Any other matters that need to be specified: None.

Wisdom Marine Group press release