The London P&I Club is the trading name of The London Steam-Ship Owners' Mutual Insurance Association Limited and its subsidiary The London P&I Insurance Company (Europe) Limited. The London Steam-Ship Owners' Mutual Insurance Association Limited. Registered in England No 10341. Registered Office: 50 Leman Street, London, E1 8HQ. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The London P&I Insurance Company (Europe) Limited, a private limited liability company registered in Cyprus, No HE410091. Registered Office: Esperidon 5, 4th Floor, Strovolos, 2001, Nicosia. Supervised by the Superintendent of Insurance. Insurance licence No 183. 16 February 2021 TO ALL CLASS 7 (WAR RISKS) MEMBERS Dear Sir or Madam WAR RISKS RENEWALS – POLICY YEAR 2021/22 Advance Contribution Rates Advance Contribution rates were set with effect from 20 February 2021 and have been notified to Members individually. A 50% reduction in rates will be granted for Entered Ships trading exclusively in one of the following areas: (i) Europe (but including the Mediterranean and Black Sea) (ii) USA and Canada (excluding Panama Canal transits) (iii) Australasia. Extensions to trading outside of any of these areas will be covered on the basis of a minimum period of three months. Corona Virus Exclusion The Group’s reinsurers required the market clause LMA 5395 to be included. This clause has now been incorporated as Rule 4.D.9. As a result there is no cover for: 1. any loss, damage, liability, cost, or expense directly arising from the transmission or alleged transmission of: a) Coronavirus disease (COVID-19); b) Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2); or c) any mutation or variation of SARS-CoV-2; d) or from any fear or threat of a), b) or c) above; 2. any liability, cost or expense to identify, clean up, detoxify, remove, monitor, or test for a), b) or c) above; - 2 3. any liability for or loss, cost or expense arising out of any loss of revenue, loss of hire, business interruption, loss of market, delay or any indirect financial loss, howsoever described, as a result of any of a), b) or c) above or the fear or the threat thereof. Nuclear and Cyber Risks – limited reinstatement Members will be aware that the current Terms of Entry contain an exclusion of Nuclear and Bio Chem risks, Rule 4.D.3, and Computer Virus (or Cyber) risks, Rule 4.D.7. Members have no cover for the risks excluded by Rules 4.D.3.1 to 4.D.3.5 (other than in Rule 4.D.3.6), or Rule 4.D.7. The Association arranges reinsurance of this War Risks Class through The Combined Group of War Risks Associations (the Group) and is pleased to advise that for the Policy Year commencing Noon GMT on 20 February 2021, the Group's reinsurers have again agreed to provide limited cover for claims which would otherwise have been excluded by each of these Rules 4.D.3 and 4.D.7 subject to a limit of USD50,000,000 any one event and in the aggregate of all claims by Members of all Associations within the Group occurring during the Policy Year. The USD50,000,000 aggregate limit will apply separately to claims under 4.D.3 and 4.D.7. In order to allow for calculation of aggregated claims, it is necessary to limit the time for such claims to be presented – all claims must therefore be notified within 30 days of the end of the Policy Year and, as a consequence, it will only be possible to settle claims after this time. The