Subscription of 350,000,000 Convertible Preference Shares by Bumi Armada Offshore Holdings Limited in Bumi Armada Navigation Sdn Bhd

Pursuant to Paragraph 10.06 of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Board of Directors of BAB (“Board”) wishes to announce that Bumi Armada Offshore Holdings Limited (“BAOHL”), a wholly-owned subsidiary of BAB, had, on 7 March 2018, subscribed for 350,000,000 convertible preference shares (“CPS”) in Bumi Armada Navigation Sdn Bhd (“BAN”), a subsidiary of BAB, in conjunction with the capitalisation of an amount of RM350,000,000 owing by BAN to BAOHL (“Subscription of CPS” or “Transaction”).