Intercont (Cayman) Limited Patent Assignment Agreement

Intercont (Cayman) Limited has entered into a Patent Assignment Agreement with Jiangsu Xinsihui Marine Technology Co., LTD for the acquisition of patents related to a Pulping Factory Ship Project. The total consideration for the assignment is up to $500,000, with a base price of $400,000 payable in installments and an additional $100,000 contingent upon successful commercialization or a qualifying transaction by December 31, 2027. The agreement also includes provisions for technical support from the assignor until December 31, 2027, and outlines phased procedures for patent ownership transfer. This assignment terminates the previous license agreements between the parties. The agreement was effective November 20, 2025.