Placements::COMPLETION OF PROPOSED PLACEMENT OF 32,000,000 NEW ORDINARY SHARES IN THE CAPTIAL OF MAXI-CASH

PLACEMENT OF 32,000,000 NEW ORDINARY SHARES IN THE CAPITAL OF THE COMPANY AT THE PLACEMENT PRICE OF S$0.1620 PER PLACEMENT SHARE

• COMPLETION

The board of directors (the "Board" or the "Directors") of Maxi-Cash Financial Services Corporation Ltd. (the "Company") refers to the announcements dated 6 December 2021 and 9 December 2021 in respect of the proposed placement (the "Placement") by the Company of up to 32,000,000 new ordinary shares (the "Shares") in the capital of the Company (the "Placement Shares") at the issue price of S$0.162 for each Placement Share. Unless otherwise defined, all capitalised terms used in this announcement shall have the meaning ascribed to them in the Placement Announcement.

The Board is pleased to announce that the 32,000,000 Placement Shares have been allotted and issued on 13 December 2021. Following the completion of the Placement, the total number of issued Shares has increased from 1,034,927,234 Shares (excluding 325,122 treasury shares) to 1,066,927,234 Shares (excluding 325,122 treasury shares).

The Placement Shares will be listed on the Catalist board of the Singapore Exchange Securities Trading Limited (the "SGX-ST") with effect from 9.00 a.m. on 15 December 2021. The approval in-principle granted by the SGX-ST for the listing and quotation of the Placement Shares is not to be taken as an indication of the merits of the Placement, the Placement Shares, the Company, its subsidiaries and their securities.

BY ORDER OF THE BOARD

Ng Leok Cheng

Chief Executive Officer

13 December 2021

Important Notice

Notification under Section 309B of the Securities and Futures Act, Chapter 289 of Singapore: The Placement Shares are "prescribed capital markets products" (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018 and "Excluded Investment Products" (as defined in MAS Notice SFA 04- N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products).

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited ("Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement. The contact person for the Sponsor is Ms Tay Sim Yee (Tel: 6232 3210) at 1 Robinson Road #21-00 AIA Tower, Singapore 048542.