General Announcement::Termination of Agreement, Applications for Discharge of Judicial Management Order and Winding Up

EPICENTRE HOLDINGS LIMITED

(Incorporated in the Republic of Singapore)

(Company Registration No.: 200202930G)

TERMINATION OF AGREEMENT, APPLICATIONS FOR DISCHARGE OF JUDICIAL

MANAGEMENT ORDER AND WINDING UP

The Judicial Managers (the "JMs") of Epicentre Holdings Limited (Judicial Managers Appointed by Court) (the "Company") refer to their announcement dated 17 June 2021 and 29 September 2021 on the Agreement entered into with Transworld Electronic Technology Limited ("Transworld").

Unless otherwise defined, all capitalized terms used herein shall bear the same meanings ascribed to them in the announcements referred to above.

The JMs wish to inform stakeholders that as certain conditions precedent have not been satisfied, the Company and Transworld have agreed to mutually terminate the Agreement on 8 November 2021. Stakeholders can refer to the winding up application for details of the mutual termination. A copy of the winding up application will be furnished to any creditor or shareholder of the Company upon request.

In light of the foregoing and for the reasons set out in the winding up application, the JMs are of the view that the purposes specified in the judicial management order are incapable of achievement. Accordingly, the JMs have filed applications in the High Court ("Court") for the discharge of the judicial management order and for the Company to be placed in liquidation (collectively, the "Applications"). The hearing for both Applications has been fixed on 13 January 2022 at 10.00a.m..

The JMs will provide further updates as may be appropriate.

Shareholders are advised to exercise caution when dealing with the Company's securities. Shareholders should seek advice from their stockbrokers, bankers, solicitors, accountants, tax advisers or other professional advisers if they have any doubt about the actions that they should take.

Ee Meng Yen Angela

Joint and Several Judicial Manager

16 November 2021

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, Stamford Corporate Services Pte Ltd (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by 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 Mr. Bernard Lui.

Telephone: +65 6389 3000. Email: bernard.lui@morganlewis.com