FINANCIAL RESULTS FOR FY2022 4TH QUARTER

The ensuing COVID 2022 recovery cycle has brought strong inventory ramp-up for consumer merchandise at destination, leading to an over-correction, with recent sales and inventory levels moving adversely across the global markets. This has resulted in weaker demand in the first calendar quarter of 2023 as compared to that of previous two years'. At ONE, we continue to prudently manage our balance sheet and make strategic investments such as our own evolving decarbonization strategy and upgrading and enhancing our global customer service levels through our new Service Cloud system. We updated the “ONE INITIATIVES” at the end of FY 2022 Q4.

Ocean Network Express (ONE) is pleased to announce that the Africa, India and Middle East (AIM) service will increase its sailing frequency from fortnightly to weekly starting from May 2023. This is part of ONE’s commitment to enhance our services in Africa.

Ocean Network Express (ONE) is pleased to announce the launch of the ONE Eco Calculator, which calculates carbon dioxide (CO2) emissions from ONE’s operating vessels. The tool is one of the company’s milestones in its journey to net zero.

Ocean Network Express Pte. Ltd. together with the partners forming Poseidon Acquisition Corp. ("Poseidon") has jointly announced with Atlas Corp. ("Atlas") the closing of the previously announced transaction pursuant to which Poseidon has acquired all of the outstanding common stock of Atlas not already owned by the members of Poseidon.

Ocean Network Express Pte. Ltd (ONE) held a "Container Shipping Summit" on March 16 at Dejima, located in Nagasaki of Japan, in cooperation with the Nagasaki City, Anchor Ship Partners Co.Ltd. and KOZO KEIKAKU ENGINEERING Inc.

Ocean Network Express Pte. Ltd (ONE) announces that it has ordered 10 large new container vessels with a carrying capacity of over 13,700 TEU to be delivered in 2025 and 2026.

Ocean Network Express (ONE) Pte.Ltd. will host a “Container Shipping Summit” on March 16 at Dejima, located in Nagasaki of Japan, in collaboration with Nagasaki City, Anchor Ship Partners Co.,Ltd., and KOZO KEIKAKU ENGINEERING Inc.

Ocean Network Express (ONE) has contributed to humanitarian aid efforts in response to the earthquakes that hit southern Türkiye and northern Syria on 6 February 2023. ONE donated SGD 40,000 and USD 60,000 through the Singapore Red Cross and the Turkish Red Crescent Society respectively.

Ocean Network Express (ONE) is pleased to announce the successful completion of the biofuel trial onboard MOL ENDOWMENT.