We expect forthcoming decline in the utilisation rates for the fourth quarter of 2024 and the year 2025. This anticipated

decline is attributed to the scheduling of Special Periodical Surveys ("SPS") and 5-yearly maintenance for three of our rigs,

namely NAGA 5, NAGA 8, and NAGA 3. On 27 November 2024, NAGA 8 received from the client a notice of suspension

effective 10 February 2025, or upon the completion of contract demobilisation, whichever occurs later.