APRIL 24, 2013 — Singapore Technologies Engineering Ltd (ST Engineering), whose subsidiaries include Pascagoula, MS, headquartered shipbuilder VT Halter Marine, today reported that Mr. Kwa Chong Seng will take over as the Chairman of the Board on April 25, 2013, following his reelection as an Independent Non-Executive Director.

Mr. Kwa succeeds Mr. Peter Seah Lim Huat, who will step down as an Independent Non- Executive Director and Chairman of the Board on April 25, 2013.

Mr. Kwa Chong Seng is also Chairman of Board of APL parent NOL and serves as the Deputy Chairman of the Singapore Public Service Commission.

Mr Kwa has more than 40 years' experience in the petroleum industry, serving as Chairman and Managing Director of ExxonMobil Asia Pacific Pte Ltd before retiring in 2011. He was the Deputy Chairman of Temasek Holdings Pte Ltd from 1997 to 2012 and a non-Executive Director of DBS Group Holdings Ltd. and DBS Bank Ltd. from 2003 to 2012.

Among other honors, Mr. Kwa was conferred the Distinguished Engineering Alumni Award by the National University of Singapore in 1994 and in 2005 was awarded the Singapore Public Service Star for his outstanding contributions and service to Singapore. He is also a Fellow of the Academy of Engineering Singapore.