The Board of Directors (the “Board”) of FSL Trust Management Pte. Ltd., as trustee-manager (the “Trustee-Manager”) of First Ship Lease Trust (“FSL Trust” or the “Trust”), refers to its announcement dated 1 March 2021 and further announces that six wholly-owned subsidiaries of the Trust have entered into a US$ 15.0 million facility agreement with Chailease International Financial Services (Singapore) Pte. Ltd. in relation to the refinancing (the “Loan”) of the vessels Cumbrian Fisher, Clyde Fisher, Shannon Fisher, Solway Fisher, Seniority and Superiority (the “Vessels”). The Loan has a maturity of 5 years from the date of drawdown, will be repaid in 20 consecutive quarterly instalments of US$ 0.75 million each and bears interest of 3.975% p.a. above USD Libor. The Loan is secured by, inter alia, mortgages over the Vessels, assignments of the earnings and insurances of the Vessels and a guarantee of the Trust.