REPL::Scrip Election/ Distribution/ DRP::Choice

OXLEY HOLDINGS LIMITED

(Incorporated in the Republic of Singapore under Registration No. 201005612G)

APPLICATION OF SCRIP DIVIDEND SCHEME TO FINAL TAX EXEMPT (ONE-TIER) DIVIDEND

• ISSUE PRICE OF NEW SHARES

The Board of Directors (the "Board") of Oxley Holdings Limited (the "Company", and together with its subsidiaries, the "Group") refers to the announcement on 29 October 2021 (the "Announcement") pertaining to the notice of the record date for the final tax exempt (one-tier) dividend of $0.0025 per ordinary share for the financial year ended 30 June 2021 (the "Final Dividend") and the application of the Oxley Holdings Limited Scrip Dividend Scheme (the "Scheme") to the Final Dividend. All capitalised terms herein shall, unless otherwise defined herein, bear the meanings ascribed thereto in the Announcement or the Terms and Conditions of the Scheme.

Further to the Announcement, the Board wishes to announce that the Issue Price is $0.1891 for each new Share. The Issue Price represents a discount of 5% to the average of the last dealt prices of a Share on the SGX-ST for each of the Market Days during the Price Determination Period between 8 November 2021 and 9 November 2021 (both dates inclusive) (being the period commencing on the day on which the Shares are first quoted ex-dividend on the SGX-ST and ending on the Record Date).

Fractional entitlements to the new Shares will be rounded down to the nearest whole number.

The Notices of Election will be despatched to the Entitled Shareholders on or about 19 November 2021. The Final Dividend will be paid on or about 22 December 2021. Entitled Shareholders who elect not to participate in the Scheme will receive the Final Dividend in cash.

By Order of the Board

Ching Chiat Kwong

Executive Chairman and CEO

10 November 2021