Pacific Shipping announced on March 5, 2024 that it has granted approximately 0.34% of the issued share capital to eligible participants under the 2023 Share Award Scheme for a total of 18,079,000 shares of bonus shares. The bonus shares include Executive Director and Chief Executive Officer Martin Fruergaard receiving 1,816,000 shares, senior management — CFO Michael Jorgensen receiving 1,805,000 shares, and other employees receiving 14,458,000 shares. The bonus shares will be vested on 14 July 2027. The market price of the bonus shares is HK$2.43 per share. The incentive scheme is designed to encourage and reward employees' contribution and loyalty to the Group while not accompanied by performance targets. Any unassigned portion of the bonus will be void upon termination of the employment relationship by the grantor. Currently, under the 2023 Share Award Scheme, the Company may issue a further total of 69,456,461 shares.

Pacific Shipping announced on March 5, 2024 that it has granted approximately 0.34% of the issued share capital to eligible participants under the 2023 Share Award Scheme for a total of 18,079,000 shares of bonus shares. The bonus shares include Executive Director and Chief Executive Officer Martin Fruergaard receiving 1,816,000 shares, senior management — CFO Michael Jorgensen receiving 1,805,000 shares, and other employees receiving 14,458,000 shares. The bonus shares will be vested on 14 July 2027. The market price of the bonus shares is HK$2.43 per share. The incentive scheme is designed to encourage and reward employees' contribution and loyalty to the Group while not accompanied by performance targets. Any unassigned portion of the bonus will be void upon termination of the employment relationship by the grantor. Currently, under the 2023 Share Award Scheme, the Company may issue a further total of 69,456,461 shares.