ASSESSMENT OF THE AUTOMOTIVE 2.0 LITRE TURBO DIESEL ENGINE

OXE Marine AB (publ) (the “Company”) has today entered into a Preliminary Development Agreement (PDA) with the BMW Group to carry out a preliminary study of its 2.0 litre, 4 cylinder turbo diesel engine for marine application - to power the Company’s next generation of OXE200 series. Additionally, both companies have agreed to co-brand the OXE300 to further develop the Company’s marketing and sales strategy with the aim of promoting the premium quality of the product.