The Board of Directors (the “Board”) of FSL Trust Management Pte. Ltd., as trustee-manager (the “Trustee-Manager”) of First Ship Lease Trust (the “Trust”), announces that FSL-19 Pte. Ltd., a whollyowned subsidiary of the Trust, has entered into a memorandum of agreement to sell the vessel FSL Singapore (the “Vessel”) to an unaffiliated third party who lodged a 10% deposit in escrow (the “Disposal”).

The Vessel is a 47,470 DWT product tanker built at Hyundai Mipo Dockyard in South Korea in 2006 and has most recently been trading in spot market.

The Disposal is made in the ordinary course of business. Details of the Disposal in accordance with Chapter 10 of the Listing Manual of the Singapore Exchange Securities Trading Limited will be disclosed upon completion of the Disposal.

By Order of the Board

FSL Trust Management Pte. Ltd.

Mr Efstathios Topouzoglou

Non-Independent, Non-Executive Chairman