Rescheduling conditionally limited short-time work

Flensburg, 30. April 2019; As part of the process in moving torward with the reorganization of the shipyard with the aim of securing its long-term success, FSG has been in negotiations with customers and suppliers since the beginning of the year.

Tothis end, several measures have been implemented in order to successfully achieve this target.

The RoPax ferry for Brittany Ferries is in the process of intensive outfitting. For optimal progresstobe obtained on this project it was necessary to postpone the start of production of our newbuilding no. 781, the eighth RoRo vessel for SIEM.
This has led to a partial and temporary underemployment in one part of the production. Forthis reason, the Company’s management and Werks Council have agreed to apply to
the Labour Employment Agency for short-time work in this area.

The application has already been submitted.

The effects on the affected area are being kept to a minimum. The majority of the affected employees will be able to bridge this period either by reducing overtime hours previously worked or will be temporarily employed in other areas of production.