Notification of Major Holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:

Tufton Oceanic Assets Ltd (LEI:213800L1N2V3FVNOSY44 )

3RD FLOOR, WEST WING

SUITE B, TRAFALGAR COURT

ST PETER PORT

GY1 2JA

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

Non-UK issuer

X

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify)iii:

3. Details of person subject to the notification obligationiv

Name

Pictet Asset Management Ltd

City and country of registered office (if applicable)

London EC2Y 5ET Moor House, 120 London Wall

4. Full name of shareholder(s) (if different from 3.)v

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reachedvi:

20/12/2017

6. Date on which issuer notified (DD/MM/YYYY):

21/12/2017

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights of issuervii

Resulting situation on the date on which threshold was crossed or reached

10%

0%

10%

91,000,000

Position of previous notification (if

applicable)

0

0

0

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Registered shares GG00BDFC1649

9,100,000

0

10.00%

0

SUBTOTAL 8. A

9,100,000

10.00%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

N/A

N/A

N/A

N/A

N/A

SUBTOTAL 8. B 1

N/A

N/A

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

Expirationdatex

Exercise/Conversion Period xi

Physical or cash

settlementxii

Number of voting rights

% of voting rights

N/A

N/A

N/A

N/A

N/A

N/A

SUBTOTAL 8.B.2

N/A

N/A

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii

Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)

X

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Pictet Canada LP

Montreal

Pictet (London) Ltd

London

(Holding Company)

Pictet Asset Management Holding SA, Geneva, Switzerland

Pictet Asset Management LTD (London)

10.00%

0

10.00%

Pictet & Cie Group SCA, Geneva Switzerland (holding Company)

Pictet Asset Management Holding SA, Geneva, Switzerland

Pictet Asset Management LTD (London)

10.00%

0

10.00%

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional informationxvi

Pictet & Cie Group SCA is ultimately owned by the following individual persons (UBO's):

Nicolas Pictet - Partner

Remy Best - Partner

Renaud de Planta - Partner

Bertrand Demole - Partner

Marc Pictet - Partner

Laurent Ramsey - Partner

\* They all have a joint unlimited liability on Pictet & Cie Group SCA and none of them have a position control

Place of completion

London EC2Y 5ET Moor House, 120 London Wall

Date of completion

21/12/2017

Annex: Notification of major holdings (to be filed with the FCA only)

A: Identity of the person subject to the notification obligation

Full name (including legal form for legal entities)

Pictet Asset Management LTD

Contact address (registered office for legal entities)

London EC2Y 5ET Moor House, 120 London Wall

E-Mail

[email protected]

Phone number / Fax number

+44 20 7847 5040

Other useful information

(at least legal representative for legal persons)

David Cawthrow (Head of Compliance)

B: Identity of the notifier, if applicable

Full name

N/A

Contact address

N/A

E-Mail

N/A

Phone number / Fax number

N/A

Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)

N/A

C: Additional information

N/A