Announcement 07/25/2016

25 July
Following receipt of a restructuring proposal sent on 15 July 2015 (the “Proposal”) on behalf of the Ad Hoc Group of Noteholders (the “AHG”) which together constitute c.

50% of the 8% US$550 million notes due 2018 and the 8.75% US$325 million notes due 2020 issued by Far East Capital Limited S.A., and subsequent discussions between the respective advisors to the FESCO Transportation Group (“FESCO”) and the AHG, FESCO has determined that it will require additional time to evaluate the Proposal and prepare its own preliminary proposal as the basis for further discussions. FESCO shall in due course post a revised date on its website for the release of its preliminary proposal.

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