Dyna-Mac inks MOU with SBM Offshore to supply topside modules for FPSO OSX-2; Project value is estimated at S$50 million

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4 April 2011

Newly-listed Dyna-Mac Holdings Ltd. (精砺控股有限公司) (“Dyna-Mac” or together with its subsidiaries, the “Group”), a multi-disciplinary specialist provider of detailed engineering, procurement and construction services (“EPC”) to the offshore oil and gas, marine
construction and other industries, today announced that it has signed an Memorandum of
Understanding (“MOU”) with SBM Offshore N.V. to supply topside modules for FPSO OSX-2.

The estimated value of Dyna-Mac’s scope of work for this project is in the region of S$50 million. This announcement follows SBM Offshore’s statement on 30 March 2011 that they have received a Letter Of Intent (“LOI”) from OSX-2 Leasing BV, an indirect subsidiary of OSX Brazil SA and part of EBX Group, relating to the future conversion, supply and installation of a floating production, storage and offloading vessel to OSX (“FPSO OSX-2”). FPSO OSX-2 will be chartered by OSX to its customer OGX Petróleo e Gás Ltda. (“OGX”), also a company of the EBX Group, and will be deployed on oil fields in the Campos basin offshore Brazil.

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