Corporate Update The Company is pleased to provide a progress update on the proposed acquisition of the Comarco group of companies (the “”). The Comarco Group is based in Mombasa, and is engaged in port and marine logistics activities in . Comarco Group Comarco business update Despite the uncertainty created by Covid-related lockdowns and business interruptions, Comarco continues to operate in line with management budgets. The Comarco management team has focused on new business and Comarco has secured contracts in the coastal waters in and around , , and as well as its first contract on . Kenya Lake Tanganyika In the Comarco Port Division delivery of iron ore into the yard for export has recommenced in early . Negotiations to secure a substantial coal import contract are at an advanced stage. This will substantially boost throughput volumes and the overall performance of the port.