SEATRIUM LIMITED — Capital/Financing Update 2025

Aug 27, 2025

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Company Registration Number: 196300098Z

Seatrium Secures Contract to Upgrade FLNG Vessel for Golar

Singapore, 27 August 2025 – Seatrium Limited (Seatrium, or the Group) is pleased to announce that it has secured a contract from Golar Hilli Corporation (Golar), a subsidiary of Golar LNG Ltd, to perform the upgrading of FLNG Hilli Episeyo .

Mr Marlin Khiew, Executive Vice President, Energy (Americas), Seatrium said, "We are honoured to be entrusted once again by Golar with this FLNG upgrading contract. FLNG Hilli Episeyo is a testament to the strong track record of the projects we have delivered to Golar over the years and reflects their confidence in Seatrium as a partner in the development, conversion and upgrading of high-quality, sustainable, and robust production units.”

Scheduled to enter the yard in the third quarter of 2026, the project involves technical modifications for FLNG Hilli Episeyo ’s redeployment. The scope of work includes engineering and procurement of long-lead items, repair and life extension and winterisation of the vessel, as well as the installation of a new soft-yoke mooring system.

When completed, FLNG Hilli Episeyo will be redeployed in the Gulf of San Matias in the Rio Negro province offshore Argentina, liquifying gas from the Vaca Muerta Shale formation onshore in Neuquen province for 20 years. FLNG Hilli Episeyo , with a nameplate capacity of 2.45 MMt/year, is set to recommence operations in 2027.

The upgrading of FLNG Hilli Episeyo is part of a broader suite of solutions developed by Seatrium to address the industry’s focus on energy transition, with LNG widely regarded as a transition fuel. FLNG Hilli Episeyo was converted and delivered by the Group in 2017. Seatrium also delivered FLNG Gimi to Golar in 2023, which has recently started commercial operations at the Greater Tortue Ahmeyim Field.

Since its first LNGC drydocking and ship repair in the 1980s, Seatrium has developed extensive expertise in LNG-related cryogenic systems. Today, the Group is a recognised industry leader in designing and building complex turnkey solutions - including newbuilds, conversions, and repairs - for vessels that support the entire LNG value chain. Among its key milestones are the development of Singapore’s first LNG bunkering vessel, FueLNG Bellina , in 2021; the creation of the country’s first floating hybrid energy storage system, the Floating Living Lab , which enables sustainable LNG vessel refueling; and the construction of various dual-fuel LNG dredgers and tugs, purpose-built LNG carriers, and LNG-powered containerships.

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FLNG Hilli Episeyo for Golar Hilli Corporation, a subsidiary of Golar LNG Ltd. Photo Credit: Seatrium

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About Seatrium Limited

Seatrium Limited provides innovative engineering solutions to the global offshore, marine and energy industries. Headquartered in Singapore, the Group has over 60 years of track record in the design and construction of rigs, floaters, offshore platforms and specialised vessels, as well as in the repair, upgrading and conversion of different ship types.

The Group’s key business segments include Oil & Gas Newbuilds and Conversions, Offshore Renewables, Repairs & Upgrades, and New Energies, with a growing focus on sustainable solutions to advance the global energy transition and maritime decarbonisation.

As a premier global player offering offshore renewables, new energies and cleaner offshore & marine solutions, Seatrium is committed to delivering high standards of safety, quality and performance to its customers which include major energy companies, vessel owners and operators, shipping companies, and cruise and ferry operators.

Seatrium operates shipyards, engineering & technology centres and facilities in Singapore, Brazil, China, India, Indonesia, Japan, Malaysia, the Philippines, Norway, Saudi Arabia, the United Arab Emirates, the United Kingdom and the United States.

Discover more at www.seatrium.com.

For more information, please contact:

Mr Winston Cheng Head, Investor Relations and Corporate Communications Tel No: +65 6863 7367 Email: winston.cheng@seatrium.com

Ms Clarissa Ho Senior Manager, Investor Relations and Corporate Communications Tel No: +65 6803 0276 Email: shufang.ho@seatrium.com

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