A merican Club Circular No . 01/25 1 JANUARY 16, 2025 CIRCULAR NO. 01/25 TO MEMBERS OF THE ASSOCIATION Dear Member: CHANGES TO THE RULES OF THE ASSOCIATION FOR THE 2025 POLICY YEAR Please note that your Board of Directors has approved the following changes to the Club’s Rules to take effect from February 20, 2025. Amendments/additions to the Association’s Rules are shown below in blue. Class I, Rule 3, Section 2 – Losses Excluded, Sub-Section 19 – Paperless Trading c an electronic trading system shall be deemed approved, provided: i it is a reliable system in accordance with the Electronic Trade Documents Act 2023 of the United Kingdom or UNCITRAL’s Model Law on Electronic Transferable Records and the reliability of that system is evidenced by: a an audit by an independent body; or b a declaration by a supervisory, regulatory or accreditation body or applicable voluntary scheme; or c applicable industry standards; and ii any electronic document generated thereunder, which performs the functions specified in paragraph a, i-iii, has the same effect under its applicable law as a paper document performing those functions. It is hoped that the foregoing changes are clear, but if any Member requires any further explanation or comment, the Managers will be happy to respond. Yours faithfully, Dorothea Ioannou, CEO Shipowners Claims Bureau, Inc., Managers for THE AMERICAN CLUB