THE GREAT EASTERN SHIPPING COMPANY LIMITED : DISCLOSURE OF EVENTS / INFORMATION UNDER REGULATION 30

• Greatship (India) Limited ('GIL'), a wholly owned subsidiary, received 8 review notices under Section 25 of Maharashtra Value Added Tax Act, 2002. • Notices are from the Joint Commissioner of State Tax, Mumbai, regarding review of appeal/rectification orders for financial years 2013-14, 2014-15, 2016-17 and April 2017-June 2017. • Review pertains to treatment of charter hire of vessels/rigs, exemptions under CST Act, and taxing charter-hire revenue. • Joint Commissioner proposes charging consequential interest and penalties under CST and MVAT Acts. • GIL will submit its objections in due course. • Expected financial implications are currently not computed and may or may not exceed materiality threshold. Impact: Neutral (Subsidiary received tax review notices; financial implications are yet to be determined.)

The Great Eastern Shipping Company Limited

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