CMA CGM TO ACQUIRE NOL, REINFORCING ITS POSITION IN GLOBAL SHIPPING

CMA CGM TO ACQUIRE NOL,

REINFORCING ITS POSITION IN GLOBAL SHIPPING

-. Proposed cash acquisition of NOL at SGD 1.30 per NOL share, representing a 49% premium to NOL’s unaffected share price[1], fully financed

-. Strategic acquisition resulting in combined turnover of USD 22 billion[2] and fleet size of 563 vessels

-. Complementary geographical strengths enhance the diversity of CMA CGM’s trade portfolio and consolidate its position on strategic trade routes

-. CMA CGM will establish its regional head office in Singapore, which will reinforce Singapore’s  leadership position in the shipping industry

-. Significant operational synergies

-. Transaction is unanimously approved and recommended by NOL Board

-. NOL’s majority shareholders (Temasek and its affiliates) fully support the transaction and have irrevocably undertaken to tender all of their shares into the Offer