The board of directors of Jasper Investments Limited announced that the Company has on 20 September 2023 entered into a strategic collaboration framework agreement (the "SCFA") with Berlitz Marine Pte. Ltd. ("Berlitz") (the Company and Berlitz collectively referred to in this announcement as the "Parties" and each, a "Party") for the expansion and growth of the Company's core business in the Marine & Offshore industry involving the acquisition, operation and management of Offshore Support Vessels for deployment in the South East Asia and Gulf Cooperation Council ("GCC") regions as well as in respect of other Marine & Offshore related services and supplies (the "JIL-Berlitz Strategic Collaboration"). Together with Berlitz, the Group will focus on the growth and expansion of its core business in the Marine & Offshore industry, and will also be engaged in, or includes as part of its business focus, the provision of marine transportation services (including but not limited to related project and logistics management, operations and maintenance ("O&M") services, fleet management and marine supply), specially catering to the infrastructure business and projects as well as support for the Offshore & Marine sector.

In light of the encouraging improvements and trends in the Offshore Oil & Gas vessel markets that are expected to continue in the absence of unforeseen circumstances as well as the supportive project investment environment with USD 68 billion of CAPEX reaching final investment decision in first half of 2023, the Board is of the view that the Company's entry into the JIL-Berlitz Strategic Collaboration with an established and strong player in this sector (namely, Berlitz) would augur well for the expansion, growth, future prospects and longer-term sustainability of the Group in respect of its core business ("Jasper Core Business").