Statement of General Compliance

Mermaid Maritime Public Company Limited (“Mermaid” or the “Company”) is committed to continually enhancing shareholder value by maintaining high standards of corporate governance, professionalism, integrity and commitment at all levels, underpinned by strong internal controls and risk management systems within the Company and its subsidiaries (the “Group”).

As at 31 December 2022, Mermaid is generally in compliance with the principles and guidelines set out in the Singapore Code of Corporate Governance 2018 (the “Code”). Where there are deviations from the Code, appropriate explanations are provided. Specific disclosure in relation the Code is set forth below:

Whistleblowing Policy

Mermaid Maritime Public Company Limited and its subsidiaries are committed to a high standard of ethical, moral as well as compliance with accounting, financial reporting, internal controls, corporate governance and auditing requirements and any legislation related thereto. In line with this commitment, the Whistleblowing Policy aims to provide an avenue for employees and external parties to raise concerns and offer reassurance that they will be protected from reprisals or victimization for whistleblowing in good faith.