Seaspan Makes Significant Infrastructure Investments to Expand Ship Repair Operations

November 9, 2023 – North Vancouver, BC – Seaspan is pleased to be making substantial
investments to upgrade and expand its Vancouver Drydock infrastructure to help grow the
company’s ship repair and maintenance operations and to better serve the Pacific Northwest.
Seaspan received permit approval from the Vancouver Fraser Port Authority (VFPA) in October
2023 to extend its North Vancouver drydock facilities to increase capacity and service additional
vessels.

Seaspan consolidated its ship repair and maintenance projects at Vancouver Drydock, resulting
in the shipyard running at or near capacity for several years. This drydock expansion will increase
Seaspan’s capacity for ship repair projects by about 30 per cent, and will result in approximately
100 new, well-paying jobs.

“Seaspan Vancouver Drydock plays an integral role in supporting the West Coast marine industry
and creating long-term work for BC’s skilled workforce. By investing in improvements to better
use our land and the space within our water lots, we will be able to serve more customers, create
new jobs and harness new economic activity for our communities,” said Paul Hebson, Vice
President and General Manager of Vancouver Drydock. “The input and feedback we gathered
during the public engagement process for the drydock expansion allowed us to develop
meaningful measures to address concerns and helped us created a stronger, more responsive
project.”

The expansion includes a drydock expansion, a new operations building and a complete upgrade
and extension to the current careen deck to enhance its capabilities.
The drydock expansion includes extending Seaspan’s current water lot by 40 metres and the
addition of two new smaller drydocks and a floating work pontoon to the west of the two existing
drydocks. The project is expected to take approximately 1 year to complete, with the drydocks
and work pontoon arriving by water fully assembled. The project is subject to 61 conditions that
address the impacts of noise, air emissions and lighting. Seaspan has committed to
implementing several mitigation measures to its existing operation, as well as to the expanded
facilities.

The new operations building for Seaspan’s growing workforce is designed to accommodate up to
300 people over two shifts. Construction will commence soon and is expected to be complete by
late 2024.
Vancouver Drydock currently has a skilled team of about 200 people who complete maintenance,
repair and refit on more than 50 vessel projects per year, including tugs, ferries, large freighters,
Canadian Coast Guard vessels, cruise ships, fishing vessels, and barges.