General Terms & Conditions

1GENERAL AND APPLICATION

These General Terms & Conditions of Business ("GTC") apply to all quotations, proposals, assignments, purchase orders, service agreements and other contractual relationships concerning services or supplies provided by YKing Marine. They apply in particular to marine surveys, inspections, technical assessments, expert technical opinions, engineering services, troubleshooting, repair and maintenance, hydraulic and pneumatic systems, automation, PLC and HMI systems, modifications, modernisation, retrofit projects, commissioning and recommissioning, technical consultancy, remote support, crew and technical personnel training, procurement, spare parts and equipment supply and related services.

These GTC apply exclusively to business-to-business transactions with professional or commercial clients. They are not intended to govern consumer transactions. Any general purchasing conditions, terms of business or other contractual conditions of the Client shall not apply unless expressly accepted by YKing Marine in writing.

2CONTRACTING ENTITY

For the purposes of these GTC, "YKing Marine" means exclusively the YKing Marine legal entity expressly identified as the contracting party in the applicable quotation, order confirmation, service agreement or invoice.

UNITED ARAB EMIRATES

YKing Marine LLC-FZ Meydan Grandstand, 6th Floor Meydan Road, Nad Al Sheba Dubai, United Arab Emirates Trade Licence No.: 2415074.01

YKing Marine LLC-FZ is the currently established and operating contracting entity in the United Arab Emirates.

UNITED STATES - IN PROGRESS / UNDER FORMATION YKing Marine LLC Florida, United States of America Status: In Progress / Under Formation

Until its incorporation and registration have been formally completed, YKing Marine LLC, Florida, shall not be deemed an existing contracting entity and shall not enter into contracts under these GTC. Following completion of its formation, the Florida entity may act as the Contracting Entity where expressly identified as such in the applicable quotation, order confirmation, service agreement or invoice.

Each YKing Marine entity is and shall remain a separate legal entity. No YKing Marine entity shall be jointly or severally liable for the obligations, liabilities, acts or omissions of another YKing Marine entity solely by reason of common ownership, management, branding, technical cooperation, personnel support or affiliation.

3FORMATION OF CONTRACT

A Contract shall arise upon acceptance of a YKing Marine quotation or proposal, issuance of a purchase order, written or electronic instruction to proceed, payment of a deposit or mobilisation payment, procurement of materials or reservation of personnel following Client instruction, mobilisation of personnel, or commencement of the Services with the Client's knowledge and approval. Any person instructing YKing Marine represents that he or she possesses sufficient authority to engage YKing Marine on behalf of the identified Client.

4SCOPE OF SERVICES

YKing Marine shall perform only those Services expressly identified in the applicable quotation, Scope of Work, proposal, order confirmation or other written agreement. No obligation to inspect, investigate, dismantle, repair, test, modify or certify any system, component or area outside the agreed Scope shall be implied. Discovery of additional deficiencies does not automatically extend the agreed Scope. Additional investigation, work, materials, engineering, programming, attendance or specialist services outside the agreed Scope may be quoted or charged separately.

5VARIATIONS AND ADDITIONAL WORK

Changes requested by the Client or additional work arising during execution shall constitute a variation to the original Scope. Where reasonably practicable, YKing Marine shall inform the Client before substantial additional work is undertaken. Where immediate action is reasonably necessary for safety, preservation of equipment or prevention of further damage, YKing Marine may take reasonable protective measures and subsequently inform the Client. Additional work shall be charged according to the applicable quotation or YKing Marine rates unless otherwise agreed in writing.

6PROFESSIONAL STANDARD OF CARE

YKing Marine shall perform its Services with reasonable professional skill, care and diligence appropriate to the nature and scope of the assignment. Unless expressly agreed otherwise in writing, YKing Marine does not warrant or guarantee any particular technical result, operational availability, Classification status, statutory approval, future reliability or service life. Technical recommendations represent YKing Marine's professional assessment based on the information, condition and circumstances reasonably available at the relevant time.

7SURVEYS, INSPECTIONS AND TECHNICAL ASSESSMENTS

Any survey, inspection, technical assessment or expert technical opinion represents YKing Marine's professional assessment based solely upon the agreed Scope, the condition existing at the time of attendance, the areas and components reasonably accessible for inspection, the tests reasonably capable of being performed, and the documentation and information available at that time. A survey, inspection or technical assessment does not constitute a guarantee or warranty concerning present or future condition, performance, reliability or service life. Unless expressly included in the Scope, inspections are non-destructive and do not require dismantling, opening of equipment, removal of coatings or interior structures, destructive testing, laboratory analysis or access to concealed areas. YKing Marine shall not be responsible for defects or conditions that are latent, concealed, inaccessible, intermittent or otherwise not reasonably discoverable within the agreed Scope and method of inspection.

8REPORTS, FINDINGS AND THIRD-PARTY RELIANCE

Reports, opinions, findings, recommendations, photographs and technical documentation are prepared solely for the Client and the purpose identified in the respective assignment. No third party may rely upon any YKing Marine report, opinion, assessment or technical document without YKing Marine's prior written consent. No duty of care is assumed toward an unauthorised third party. Reports and technical documentation shall not be altered, selectively quoted, reproduced in part or used in a manner that may misrepresent their original context or conclusions.

9THIRD-PARTY INFORMATION

YKing Marine may reasonably rely upon drawings, manuals, certificates, crew statements, maintenance records, Classification Society documentation, Flag State documentation, OEM information and other information supplied by the Client or third parties. YKing Marine shall not be responsible for consequences resulting from information that is inaccurate, incomplete, outdated or misleading unless the deficiency should reasonably have been apparent within the agreed Scope.

10CLASSIFICATION, FLAG STATE AND STATUTORY MATTERS

Unless expressly appointed and authorised for such purpose, YKing Marine does not act as a Classification Society, Recognised Organisation, Flag Administration or statutory certification authority. Technical assessments, surveys, inspections, recommendations and reports do not constitute Classification approval, Flag State approval or statutory certification unless expressly stated otherwise. The Client remains responsible for obtaining any required approval.

11TROUBLESHOOTING AND FAULT FINDING

Troubleshooting is an investigative and diagnostic process. The existence of a fault does not imply that its cause can necessarily be identified or permanently rectified within a predetermined period. YKing Marine does not guarantee that troubleshooting will identify every defect or that a defect can be rectified without further investigation, dismantling, testing, replacement, programming, specialist assistance or additional attendance. Time reasonably spent on diagnostic investigation remains chargeable irrespective of whether the underlying fault can immediately be identified or rectified.

12EXISTING, MODIFIED AND LEGACY SYSTEMS

YKing Marine frequently performs Services on existing, modified, obsolete and legacy installations. YKing Marine shall not be responsible for deficiencies arising from undocumented modifications, previous repairs, incorrect wiring, obsolete equipment, unavailable software, inaccessible source code, missing passwords, discontinued components, inaccurate documentation or previous third-party work. Discovery of such circumstances may require additional investigation, engineering or work and may affect both cost and schedule.

13MODIFICATION, RETROFIT AND MODERNISATION

Where YKing Marine modifies, automates, upgrades or modernises an existing installation, its responsibility is limited to the agreed Scope. Existing equipment and systems outside that Scope remain the responsibility of the Client. Compatibility with obsolete, modified or undocumented third-party equipment cannot be guaranteed unless expressly confirmed in writing.

14PLC, HMI, SOFTWARE AND REMOTE ACCESS

The Client shall provide all reasonably available software, backups, passwords, licences, source code, network information and access credentials required for the Services. Where reasonably possible, appropriate backups shall be created or made available before programmable systems are modified. YKing Marine shall not be responsible for loss caused by pre-existing corrupted software, unavailable source code, obsolete hardware or software, third-party access restrictions, cyber incidents or deficiencies outside its reasonable control. Remote access shall only be undertaken with appropriate authorisation.

15TEMPORARY REPAIRS, BYPASSES AND EMERGENCY MEASURES

Temporary repairs, bypasses, diagnostic measures and emergency modifications shall not be considered permanent repairs unless expressly confirmed as such in writing. Where YKing Marine recommends subsequent permanent repair, inspection, modification or replacement, responsibility for arranging such work remains with the Client.

16CLIENT RESPONSIBILITIES

The Client shall provide safe and timely access, necessary permits and shipyard authorisations, competent crew assistance, electrical and hydraulic isolation, lockout/tagout arrangements, lifting equipment, cranes, forklifts and hoists, scaffolding and safe working platforms, appropriate lighting and ventilation, technical drawings and documentation, software and access credentials, and other facilities reasonably required for safe and efficient performance. Delays caused by unavailable access, equipment, documentation, permits or assistance may be charged as working time or standby.

17HEALTH, SAFETY AND RIGHT TO STOP WORK

YKing Marine personnel shall not be required to work under conditions reasonably considered unsafe. YKing Marine may suspend or stop work where reasonably necessary to protect personnel, the vessel, equipment, third parties or the environment. Such suspension shall not constitute breach of Contract where caused by unsafe conditions outside YKing Marine's reasonable control.

18TESTING, COMMISSIONING AND RECOMMISSIONING

Testing, commissioning and recommissioning shall be performed only where conditions reasonably permit safe operation. The Client shall ensure that appropriate vessel personnel are available where their participation is necessary. Successful operation during testing or commissioning confirms only the condition demonstrated during the relevant test and does not constitute a guarantee against future malfunction, deterioration or failure.

19SUBCONTRACTORS AND SPECIALISTS

YKing Marine may engage appropriately qualified subcontractors, specialists, manufacturers, programmers, technicians, laboratories and other professional service providers where reasonably necessary. Unless expressly agreed otherwise, their involvement does not create a direct contractual relationship between the Client and such third party.

20PARTS, COMPONENTS AND THIRD-PARTY PRODUCTS

Products and components manufactured by third parties remain subject to the relevant manufacturer's specifications and warranty conditions. Where legally and contractually transferable, the benefit of applicable manufacturer warranties will be passed to the Client. YKing Marine does not provide an additional manufacturer warranty for third-party products unless expressly stated in writing.

21OBSOLETE, ALTERNATIVE AND CUSTOM-MANUFACTURED COMPONENTS

Where original components are obsolete, unavailable or commercially impractical to obtain, YKing Marine may recommend alternative, modified, reverse-engineered or custom-manufactured solutions. Suitability may depend upon available samples, measurements, drawings, technical documentation and operational requirements. Any required Classification Society, Flag State, manufacturer or statutory approval remains subject to the relevant authority.

22DELIVERY, LOGISTICS AND CUSTOMS

Quoted delivery dates and lead times are estimates unless expressly guaranteed in writing. YKing Marine shall not be responsible for delays caused by manufacturers, suppliers, freight carriers, customs authorities, port authorities, shipyards or circumstances beyond its reasonable control. Customs duties, import charges, brokerage fees, freight, storage and local clearance costs shall be payable by the Client unless expressly included in the quotation.

23PRICES, TRAVEL AND EXPENSES

Unless expressly stated otherwise, prices exclude applicable taxes, VAT or sales tax, customs duties, freight, courier costs, flights, accommodation, local transportation, parking, tolls, visa costs, work permits, per diem, shipyard charges, lifting equipment and third-party expenses. Travel days, working days, standby, overtime, weekend work and public-holiday work may be charged according to the rates stated in the applicable quotation or agreement. Actual travel and accommodation costs may be invoiced separately where applicable.

24PAYMENT

Invoices shall be payable according to the payment terms stated in the applicable quotation, order confirmation or invoice. Deposits, mobilisation payments and advance payments become due before procurement, reservation of personnel or mobilisation where specified. Payments shall be made without deduction, set-off or counterclaim except where mandatory law requires otherwise. Bank charges shall be borne by the Client. Where withholding tax is legally required, the Client shall provide appropriate official documentation and, where legally permissible, the amount payable shall be adjusted so that YKing Marine receives the amount that would otherwise have been received absent such withholding.

25LATE PAYMENT

Amounts not paid when due may bear interest at the maximum lawful contractual rate applicable to the Contracting Entity and transaction. YKing Marine may recover reasonable costs incurred in collecting overdue amounts, including legal and collection costs where legally recoverable.

26SUSPENSION FOR NON-PAYMENT

YKing Marine may suspend Services, procurement, deliveries, mobilisation, programming, documentation, reports or further attendance if amounts due remain unpaid. YKing Marine shall not be responsible for delay or additional cost resulting from such suspension.

27CANCELLATION, POSTPONEMENT AND MOBILISATION

Where the Client cancels or postpones confirmed Services, the Client shall remain responsible for work already performed and all costs or commitments reasonably incurred, including materials ordered, supplier commitments, flights, accommodation, travel arrangements and cancellation charges. YKing Marine may additionally charge reserved personnel time where cancellation or postponement occurs after resources have been committed and such resources cannot reasonably be reassigned.

28PROJECT SCHEDULE AND DELAYS

Project schedules, attendance periods, completion dates and delivery dates are estimates unless expressly guaranteed in writing. Time shall not be of the essence unless specifically agreed in writing. YKing Marine shall not be responsible for delays arising from Client instructions, vessel schedule changes, shipyard operations, unavailable access, other contractors, supplier delays or circumstances outside its reasonable control.

29FORCE MAJEURE

YKing Marine shall not be liable for failure or delay caused by events beyond its reasonable control, including severe weather, natural disasters, war, terrorism, civil unrest, sanctions, governmental action, port closure, shipyard restrictions, strikes, epidemics, transport disruption, flight cancellation, customs delay, supplier failure, shortage of materials, interruption of communications or utilities and vessel schedule changes.

30WORKMANSHIP

Where YKing Marine performs repair, installation, modification or commissioning work, such workmanship shall be performed with reasonable professional skill and care. YKing Marine shall not be responsible for failures caused by normal wear, misuse, incorrect operation, insufficient maintenance, third-party intervention, pre-existing defects, existing equipment failures, manufacturer defects, corrosion, external damage, environmental conditions or operation outside intended design parameters. Any alleged defect attributable to YKing Marine workmanship shall be notified promptly, and YKing Marine shall be given a reasonable opportunity to inspect and, where responsibility is established, rectify the relevant work.

31LIMITATION OF LIABILITY

To the maximum extent permitted by applicable law, YKing Marine shall only be liable for direct loss proven to have resulted from breach of Contract or failure to exercise the professional standard expressly required under these GTC. YKing Marine shall not be liable for indirect, incidental, special, exemplary, punitive or consequential loss, including loss of charter, hire, use, revenue, profit, business, opportunity, production, reputation or goodwill, demurrage, vessel schedule disruption or consequential costs resulting from delay. Nothing in these GTC shall exclude or restrict liability where such exclusion or restriction is prohibited by mandatory applicable law.

32AGGREGATE LIABILITY CAP

To the maximum extent permitted by applicable law, the total aggregate liability of the Contracting Entity arising out of or in connection with a Contract, whether in contract, tort, negligence, misrepresentation or otherwise, shall not exceed the total professional fees actually paid to the Contracting Entity under the specific Contract giving rise to the claim. Amounts paid for third-party goods, materials, subcontracted equipment, travel, accommodation, freight, customs, duties, taxes and other pass-through expenses shall not constitute professional fees for purposes of calculating this limitation. Nothing in this clause shall exclude or limit liability to the extent such exclusion or limitation is prohibited by mandatory law.

33NO CROSS-ENTITY LIABILITY

Only the Contracting Entity identified for the respective project shall be responsible for contractual performance. No affiliated YKing Marine entity and no director, manager, member, officer, employee, consultant or subcontractor thereof shall incur contractual liability solely by reason of affiliation with or assistance provided to the Contracting Entity. Technical, administrative or personnel support between YKing Marine entities shall not create joint or several liability.

34CLIENT INDEMNITY

To the maximum extent permitted by applicable law, the Client shall indemnify the Contracting Entity against third-party claims arising from materially incorrect or incomplete information supplied by the Client, unauthorised third-party reliance upon a YKing Marine report, unsafe conditions under the Client's control, unauthorised modification of YKing Marine work, or operation or use contrary to YKing Marine's written instructions or recommendations. This provision shall not apply to the extent that liability cannot lawfully be excluded, limited or transferred.

35INSURANCE

YKing Marine may maintain professional, commercial or other insurance appropriate to its activities. The existence or amount of insurance shall not increase YKing Marine's contractual liability beyond the limitations contained in these GTC.

36INTELLECTUAL PROPERTY

All pre-existing intellectual property, technical know-how, methodologies, software tools, templates, calculations, programming methods and proprietary technical material remain the property of YKing Marine or the respective rights holder. Upon full payment, the Client receives a non-exclusive right to use project-specific reports and documentation for the vessel and purpose for which they were prepared unless otherwise agreed. No intellectual property ownership is transferred unless expressly agreed in writing.

37CONFIDENTIALITY

Each party shall take reasonable measures to protect confidential technical, operational, personal and commercial information received from the other party. This obligation does not apply to information that is already lawfully public, independently developed or required to be disclosed by applicable law, court order, Classification Society, Flag Administration or competent authority.

38PHOTOGRAPHS AND TECHNICAL RECORDS

YKing Marine may take photographs, measurements, video recordings and other technical records where reasonably necessary for inspection, engineering, troubleshooting, documentation, reporting, quality assurance or evidentiary purposes. Confidential vessel information shall not be publicly disclosed except with appropriate authorisation or where sufficiently anonymised and legally permissible.

39SANCTIONS, EXPORT CONTROLS AND ANTI-BRIBERY

Performance of all Contracts is subject to applicable sanctions, export-control requirements, customs regulations and anti-bribery and anti-corruption laws. YKing Marine may decline, suspend or terminate a transaction where continued performance could reasonably expose YKing Marine, its personnel, banks, insurers, suppliers or subcontractors to legal, regulatory or sanctions-related risk.

40INDEPENDENT CONTRACTOR

YKing Marine acts as an independent contractor. Nothing in a Contract creates a partnership, joint venture, employment relationship, fiduciary relationship or agency between YKing Marine and the Client unless expressly agreed otherwise in writing.

41NO THIRD-PARTY RIGHTS

Except where mandatory law provides otherwise, no person other than the Contracting Entity and the Client shall have any right to enforce the Contract or rely upon the Services or documentation provided under it.

42ASSIGNMENT

The Client may not assign or transfer the Contract or rights arising from it without YKing Marine's prior written consent. YKing Marine may assign receivables and may arrange for performance through an affiliated YKing Marine entity, subcontractor or specialist where this does not materially prejudice the Client.

43ENTIRE AGREEMENT AND ORDER OF PRECEDENCE

The Contract comprises these GTC together with the applicable quotation, Scope of Work, order confirmation and any expressly incorporated written agreement. In the event of inconsistency, the order of precedence shall be: (1) individually signed Service Agreement or Contract; (2) YKing Marine Order Confirmation; (3) YKing Marine Quotation and Scope of Work; (4) these GTC; (5) Client Purchase Order. Any standard terms or purchasing conditions contained in a Client purchase order or other Client document are excluded unless expressly accepted by YKing Marine in writing.

44SEVERABILITY

If any provision of these GTC is held invalid, illegal or unenforceable, the remaining provisions shall continue in full force to the maximum extent permitted by law. Where legally permissible, the affected provision shall be interpreted or modified only to the extent necessary to preserve as closely as possible its intended commercial effect.

45NO WAIVER

Failure or delay by YKing Marine in exercising any contractual or legal right shall not constitute a waiver of that right.

46ELECTRONIC COMMUNICATION AND ACCEPTANCE

Email, electronic signatures, electronically accepted quotations, purchase orders and other electronic communications may be used to form, administer and evidence a Contract to the extent permitted by applicable law.

47LANGUAGE

These GTC are issued in English. Any translation is provided for convenience only. To the maximum extent permitted by applicable law, the English version shall prevail in the event of any inconsistency or dispute concerning interpretation.

48UAE GOVERNING LAW AND JURISDICTION

Where the Contracting Entity is YKing Marine LLC-FZ, Dubai, United Arab Emirates, the Contract and any non-contractual obligations arising out of or in connection with it shall be governed by the laws expressly identified in the applicable quotation or Service Agreement. Unless another governing law is expressly agreed in writing, the Contract shall be governed by the laws of the Dubai International Financial Centre (DIFC). Any dispute, difference, controversy or claim arising out of or in connection with the Contract, including any question regarding its existence, validity, interpretation, performance, discharge and applicable remedies, shall be subject to the exclusive jurisdiction of the Courts of the Dubai International Financial Centre (DIFC Courts).

49FLORIDA GOVERNING LAW AND JURISDICTION

This clause shall become operational only following the formal incorporation and registration of the Florida entity. Where the Contracting Entity is YKing Marine LLC, Florida, United States of America, the Contract and any contractual or non-contractual dispute arising out of or relating to it shall, to the maximum extent permitted by applicable law, be governed by the laws of the State of Florida, without regard to conflict-of-laws principles. The parties shall irrevocably submit to the exclusive jurisdiction of the competent state and federal courts having jurisdiction in Broward County, Florida, unless another Florida venue is expressly identified in the applicable Contract. Each party waives, to the maximum extent permitted by applicable law, any objection based upon inconvenient forum or similar grounds.

50PLACE OF PERFORMANCE

The physical location of a vessel, shipyard, marina, port, workshop or other place at which Services are performed shall not by itself determine or alter the Contracting Entity, governing law or agreed jurisdiction. This provision remains subject to mandatory local, maritime, safety, environmental, employment, regulatory or other laws that cannot lawfully be excluded.

51MANDATORY LAW

Nothing contained in these GTC is intended to exclude, restrict or circumvent any liability, right, obligation or law that cannot legally be excluded or modified by contractual agreement. Where mandatory law conflicts with a provision of these GTC, the affected provision shall be restricted only to the minimum extent necessary and the remaining provisions shall continue in full force.

52CONTACT AND CORPORATE INFORMATION

UNITED ARAB EMIRATES

YKing Marine LLC-FZ Meydan Grandstand, 6th Floor Meydan Road, Nad Al Sheba Dubai, United Arab Emirates Trade Licence No.: 2415074.01

UNITED STATES - IN PROGRESS / UNDER FORMATION YKing Marine LLC Florida, United States of America Status: In Progress / Under Formation

Corporate registration details and registered address will be published following completion of incorporation. Until formal incorporation and registration have been completed, the Florida entity does not constitute an existing Contracting Entity under these GTC.