The Board of Directors  of FSL Trust Management , as trustee-manager of First Ship Lease Trust, refers to its announcement dated 3 December 2021 in relation to the cancellation of the memorandum of agreement to sell the vessel FSL London to an unaffiliated third party by mutual agreement following delays in the delivery schedule as a result of a customs investigation concerning the specifications of a cargo the Vessel carried for a customer. The Board wishes to update that the customs investigations are still ongoing and the Vessel is still held by the local customs authorities in India, pending the outcome of the investigations. There are no proceedings against the Vessel or the Trust and the Trustee-Manager has commenced legal proceedings to claim damages from the charterer of the Vessel for the delays caused by the carriage of the particular cargo loaded by the charterer and destined for India, the attendant investigations of the cargo, and the vessel being held.