Income Tax (Armada 98/2 Pte. Ltd. — Section 13(4) Exemption) Notification 2026

This Notification is the Income Tax (Armada 98/2 Pte. Ltd. — Section 13(4) Exemption) Notification 2026 and is deemed to have come into operation on 29 September 2023.

The interest payable by Armada 98/2 Pte. Ltd. under a syndicated term loan facility agreement dated 13 April 2023 for the purposes of financing the construction of the Floating, Production, Storage and Offloading vessel named “Armada Sterling V” —

to the respective lenders mentioned in the first column of the following table;

in respect of the respective loan amounts mentioned in the second column of the table; and

that is due and payable during the respective periods mentioned in the third column of the table,is exempt from tax:First columnSecond columnThird columnLenderLoan amount (US$)Period (both dates inclusive)Bank of Baroda, IFSC Banking Unit360,217,992.4213 April 2023 to 29 September 2023State Bank of India100,000,000.0011 September 2023 to 29 September 2023Canara Bank98,101,258.7213 April 2023 to 29 September 2023Indian Bank98,101,258.7220 September 2023 to 29 September 2023Export‑Import Bank of India73,575,944.0413 April 2023 to 29 September 2023Bank of India, IFSC Banking Unit50,000,000.0013 September 2023 to 29 September 2023Union Bank of India50,000,000.0020 September 2023 to 29 September 2023YES Bank Limited, IFSC Banking Unit50,000,000.0020 September 2023 to 29 September 2023(2) The exemption in sub‑paragraph (1) is subject to the conditions specified in the letter from the Inland Revenue Authority of Singapore dated 4 September 2026 that is issued on behalf of the Minister for Finance and addressed to Deloitte Tax Solutions Pte. Ltd.

The interest payable by Armada 98/2 Pte. Ltd. under a syndicated term loan facility agreement dated 13 April 2023 for the purposes of financing the construction of the Floating, Production, Storage and Offloading vessel named “Armada Sterling V” —

to the respective lenders mentioned in the first column of the following table;

in respect of the respective loan amounts mentioned in the second column of the table; and

that is due and payable during the respective periods mentioned in the third column of the table,is exempt from tax:First columnSecond columnThird columnLenderLoan amount (US$)Period (both dates inclusive)Bank of Baroda, IFSC Banking Unit360,217,992.4213 April 2023 to 29 September 2023State Bank of India100,000,000.0011 September 2023 to 29 September 2023Canara Bank98,101,258.7213 April 2023 to 29 September 2023Indian Bank98,101,258.7220 September 2023 to 29 September 2023Export‑Import Bank of India73,575,944.0413 April 2023 to 29 September 2023Bank of India, IFSC Banking Unit50,000,000.0013 September 2023 to 29 September 2023Union Bank of India50,000,000.0020 September 2023 to 29 September 2023YES Bank Limited, IFSC Banking Unit50,000,000.0020 September 2023 to 29 September 2023

The exemption in sub‑paragraph (1) is subject to the conditions specified in the letter from the Inland Revenue Authority of Singapore dated 4 September 2026 that is issued on behalf of the Minister for Finance and addressed to Deloitte Tax Solutions Pte. Ltd.