On December 15, 2025, OM Shanghai Buyer (a wholly-owned subsidiary of CONTIOCEAN) and OM Singapore Buyer (another wholly-owned subsidiary) entered into memorandums of agreement with sellers OM Shanghai Inc and Singapore Tankers, respectively. The total consideration for the vessels OM Shanghai and OM Singapore amounts to $28.75 million (approximately HK$224 million).

The board believes this acquisition aligns with the group's strategic objectives and will deliver significant benefits to both the company and its shareholders. This transaction represents the vessel acquisition initiative outlined in the prospectus. As disclosed, a substantial portion of the consideration will be funded by proceeds from the global offering.

The purchase supports CONTIOCEAN's prospectus-stated goal of establishing maritime R&D and mobile exhibition platforms to showcase its equipment, systems, and pipeline products. The vessels will be periodically leased to third parties during normal operations to generate rental income.

According to the prospectus, charter arrangements will enable the group to install its equipment, systems, and pipeline products while requiring lessees to cooperate with installation, testing, and allowing target customers to board for demonstrations at selected ports.

The board views this transaction as critical for creating a dedicated maritime R&D platform to demonstrate, test, and validate proprietary equipment in real-world conditions. Specifically, the vessels will serve as mobile exhibition platforms, facilitating global outreach to potential clients across ports worldwide. During port calls, operational equipment demonstrations will provide tangible experiences for customers and stakeholders, expected to accelerate market adoption and strengthen the group's competitive position in maritime equipment.

Furthermore, installing prototype equipment on the vessels will generate operational data to demonstrate performance to potential clients. This approach allows customers to experience the functionality and advantages of new systems in operation rather than through diagrams or models.