NEWS RELEASE VALLIANZ HOLDINGS LIMITED. Page 1 of 5

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1 VALLIANZ HOLDINGS LIMITED NEWS RELEASE VALLIANZ TO FURTHER STRENGTHEN CAPITAL BASE WITH STRONG VOTE OF CONFIDENCE FROM SHAREHOLDERS - Additional funding to pave the way for Group to embark on new corporate strategy: o Fleet expansion plan; o Pursue long-term charters, focusing on quality offshore marine vessels; o Gain greater access to a wider customer base in new and existing markets. Singapore, December 11, 2013 Vallianz Holdings Limited ( Vallianz or the Company ), an integrated offshore marine solutions provider in the offshore oil and gas industry, is set to further strengthen its capital base with a strong vote of confidence from shareholders. The Group has received shareholders approval for the grant of options to Swiber and the issuance of capital securities to Rawabi. Shareholders have also endorsed its diversification into the area of sourcing and supplying of vessels and equipment and additional shipping-related services to the offshore oil and gas industry. Page 1 of 5 Vallianz Holdings Limited (Co. Reg. No.: E) 12 International Business Park, #03-02 Swiber@IBP, Singapore t f

2 Under the option agreement, Swiber will be issued an aggregate of 500,000,000 nontransferable share options, which could raise gross proceeds of US$22.0 million, assuming that all options are exercised. Under the latter agreement, Rawabi will subscribe to US$35.2 million of capital securities, which could be converted to 800,000,000 Vallianz shares. The total proceeds of US$57.2 million which could be raised from the issue of the option shares, as and when the options are exercised by Swiber, and the proceeds from the issue of capital securities to Rawabi, is intended to be used for capital expenditure relating to future fleet expansion and general working capital purposes. Commented Mr. Darren Yeo, Executive Director and Chief Executive Officer of Vallianz: We are delighted to have received blessings from our shareholders at our EGM to proceed with the funding exercise which will further strengthen our capital base. This is in line with our current plan to deepen our capital structure, including exploring Islamic financing through a Sukuk programme. With the additional funding, we are well poised to embark on our new corporate strategy and future plans which include an expansion plan to double our existing fleet by 2016, focusing on long-term charter. We will also look into widening our customer base in both new and existing markets through an expansion of asset portfolio and services. We are pleased to have made a strong start, working in close partnership with our strategic investors, Rawabi and Swiber, two world class players in the industry. We will look for opportunities to tap on Swiber s strong business network by providing long-term charters to third parties while our partnership with Rawabi will enable us to strengthen our position in the Middle East. Page 2 of 5

3 Indeed, we are now one step closer to our goal of building ourselves as a global offshore marine support services company. We remain focused on enhancing shareholders value and any new business that we enter into will be synergistic with our current businesses of marine asset ownership, leasing and fleet corporate management. About Vallianz Holdings Limited Vallianz Holdings Limited ( Vallianz or the Company ) is an integrated offshore marine solutions services provider in the oil and gas industry that is listed on SGX-Catalist in Singapore. The Company provides offshore marine services to oil majors and national oil companies worldwide. Headquartered in Singapore, Vallianz has established its geographical footprint in Asia Pacific and the Middle East. Vallianz is spearheaded by an experienced Board and management team. With a vessel fleet comprising 26 offshore support vessels, Vallianz will continuously develop and sharpen its technical expertise to build upon the Group s robust business model. For more details, please refer to About Rawabi Holding Company Limited Rawabi Holding Company ( Rawabi ) is based in Al-Khobar (Eastern Province), Kingdom of Saudi Arabia and has been in business for the past 30 years. It s core business is related to the oil and gas Industry, specifically in the drilling and related oilfield services. Rawabi also has major activities in engineering and construction, owns and operates several manufacturing facilities and is involved heavily in the growing regional telecommunications & IT sector. Rawabi s group of companies comprises fullyowned subsidiaries, partially owned companies and joint venture companies. Rawabi has international partners from more than 25 countries and represents over 100 worldwide prominent companies. Page 3 of 5

4 For more details, please refer to About Swiber Holdings Limited Listed on November 8, 2006, Swiber is a world class integrated construction and support services provider to the offshore oil and gas industry, offering a wide range of offshore EPIC and marine support services across the Asia Pacific, Middle East, and Latin America regions. Since its foundation in 1996, Swiber has been dedicated to building the company into a leader in the offshore oil and gas industry. Today, Swiber is a public-listed company on the Singapore Stock Exchange with an eminent position among global offshore oil and gas engineering and construction organisations. With an extensive and growing operating fleet of 61 vessels, comprising 46 offshore vessels and 15 construction vessels, and more than 2800 employees in over 40 different nationalities in strategically located offices in the region, the Swiber name is synonymous with excellence, safety, innovation and value among its customers. In September 2008, Swiber was featured on Forbes Asia s Best under a Billion list, an honour given to the top 200 Asia-Pacific companies with consistent growth in both sales and profits over three years. Swiber continues to ascend the ranks of the nation s Top 100 Brands in the Brand Finance s Annual Report, ranking as one of the nation s top 100 Brands in the Brand Finance s Annual Report of Singapore s Intangible Assets and Brands with AA- Brand Rating consecutively for 2010 to In 2012, Swiber has emerged a winner in the Securities Investors Association (Singapore) s Corporate Governance Award. All these reaffirm Swiber's rapid growth as an EPIC player that is well-positioned to capitalise on the upswings of the offshore oil and gas sphere. For more details, please refer to Page 4 of 5

5 This news release has been prepared by the Company and its contents have been reviewed by the Company s sponsor, Stamford Corporate Services Pte. Ltd. ( Sponsor ), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ( SGX-ST ). The Sponsor has not independently verified the contents of this news release. This news release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this news release including the correctness of any of the statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Mr. Bernard Lui. Telephone number: bernard.lui@stamfordlaw.com.sg. ISSUED ON BEHALF OF : Vallianz Holdings Limited BY : Citigate Dewe Rogerson, i.mage Pte Ltd 55 Market Street #02-01 Singapore CONTACT : Ms Dolores Phua / Mr Clarence Koh at telephone DURING OFFICE HOURS : (Office) AFTER OFFICE HOURS : / (Handphone) dolores.phua@citigatedrimage.com clarence.koh@citigatedrimage.com 126/13/004/VHL December 11, 2013 Page 5 of 5