Employee Stock Option/ Share Scheme::GRANT OF SHARE AWARDS UNDER THE KODA PERFORMANCE SHARE PLAN 2018

Koda Ltd

(Incorporated in the Republic of Singapore)

(Company Registration Number 198001299R)

GRANT OF SHARE AWARDS UNDER THE KODA PERFORMANCE SHARE PLAN 2018

VESTING OF SHARE AWARDS GRANTED UNDER THE KODA PERFORMANCE SHARE PLAN 2018

The Board of Directors (the "Board") of Koda Ltd (the "Company" and together with its subsidiaries, the "Group") refers to the Company's announcements dated 14 October 2021 and 29 October 2021, and the Company's circular dated 14 October 2021 relating to the grant of share awards under the Koda Performance Share Plan 2018.

The Company wishes to announce details of the grant of share awards under the Koda Performance Share Plan 2018 to eligible participants pursuant to Rule 704(29) of the Listing Rules. Details on the number of share awards granted to each participant are set out below.

The remaining 224,523 share awards were awarded to selected employees of the Group who are not directors and controlling shareholders (and each of their associates) of the Company under the Koda Performance Share Plan 2018.

The Board also wishes to announce that the Company had, on 5 November 2021, vested the share awards granted under the Koda Performance Share Plan 2018. The share awards granted and vested under the Koda Performance Share Plan 2018 to Mr Koh Zhu Xian Joshua and Mr Koh Zhu Lian Julian will be satisfied via a transfer of 79,338 treasury shares held by the Company. The share awards granted and vested under the Koda Performance Share Plan 2018 to selected employees of the Group, who are not directors and controlling shareholders (and each of their associates) of the Company, will be satisfied via a transfer of treasury shares and/or issue and allotment of new ordinary shares in the capital of the Company.

The share awards granted under the Koda Performance Share Plan 2018 are subject to a two (2) year moratorium from the date of transfer of the share awards (the "Moratorium Period").1 During the Moratorium Period, the Mr Koh Zhu Xian Joshua, Mr Koh Zhu Lian Julian and selected employees of the Group shall not transfer or dispose their respective interests in the share awards.

1 The purpose of the Moratorium Period is to incentivise eligible participants to contribute to the long-term growth and profitability of the Group and to align their interests with the interests of shareholders of the Company. Shareholders of the Company should note that if an eligible participant who was issued the share awards which are subject to the Moratorium Period subsequently ceases to be an employee of the Group, that eligible participant will continue to be a shareholder of the Company in respect of those share awards. However, that eligible participant must continue to observe the Moratorium Period and shall not transfer or dispose his or her interests in the share awards until the expiration of the Moratorium Period.