FALCON ENERGY GROUP LIMITED

(Company Registration No.: 200403817G)

(Incorporated in the Republic of Singapore)

WITHDRAWAL OF WINDING UP APPLICATION AGAINST SUBSIDIARY

Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings as in the Company's announcements dated 4 April 2019, 2 July 2019 and 11 July 2021 (the "Previous Announcements").

The Board of Directors of Falcon Energy Group Limited (the "Company") refers to the Previous Announcements in relation to the filing of a Companies Winding-Up Application by way of HC/CWU 152/2019 by PT. Multi Karya Batajama in respect of Asetanian Marine Pte. Ltd., a wholly-owned subsidiary of the Company.

The Board wishes to update that the adjourned hearing of HC/CWU 152/2019 was heard on 20 August 2021 at 10am. At the said hearing, the Honourable Court heard the parties' submissions that the Plaintiff was seeking for leave to withdraw HC/CWU 152/2019 with no order as to costs and that there were no objections in these respects.

Consequently, the Honourable Court had ordered that, by consent, leave was granted for the withdrawal of HC/CWU 152/2019 with no order as to costs in respect of the same.

Shareholders and noteholders are advised to read this announcement and any further announcements by the Company carefully. Shareholders and noteholders should consult their stock brokers, bank managers, solicitors or other professional advisors if they have any doubt about the actions they should take.

BY ORDER OF THE BOARD

Tan Pong Tyea

Chairman and Chief Executive Officer

22 August 20211

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Falcon Energy Group Limited published this content on 22 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2021 19:13:03 UTC.