General Announcement::DISCLOSURE IN RESPECT OF INFORMATION REQUIRED UNDER RULE 720(6) AS SET OUT IN APPENDIX 7.4.1

POWERMATIC DATA SYSTEMS LIMITED

(Company Registration No. 198900414E)

(Incorporated in Singapore)

DISCLOSURE IN RESPECT OF INFORMATION REQUIRED UNDER RULE 720(6) AS SET OUT IN APPENDIX 7.4.1 OF THE LISTING MANUAL OF SGX-ST

The Board of Directors (the "Board") of Powermatic Data Systems Limited (the "Company" and together with its subsidiaries, the "Group") refers to its annual report for the financial year ended 31 March 2021 ("FY2021") released on 8 July 2021 as well as the notice of annual general meeting ("Notice of AGM") dated 8 July 2021, in respect of the re-election of Mr. Tan Chao Hsiung, David ("Mr. Tan") at the annual general meeting of the Company held on 23 July 2021.

The Board has received formal notification from Mr. Tan relating to an update of the following disclosure in respect of paragraphs (j)(i) and (iv) of Appendix 7.4.1 and Mr. Tan has informed that his response to paragraphs (j)(i) and (iv) of Appendix 7.4.1 should be "Yes".

Singapore Exchange Limited (the "SGX-ST")

On 23 July 2008, the SGX-ST wrote to Omega Capital Limited (the "Omega Capital") as it was not satisfied with its ability to meet the standards expected of an issue manager and financial adviser in some instances. Mr Tan was the chief executive officer and substantial shareholder of Omega capital.

The SGX-ST required Omega Capital to appoint an independent professional firm to conduct a review and recommend improvements to its internal processes, raise its due diligence standards and build up its expertise and resources.

Omega Capital duly complied with SGX-ST directive in appointing an independent professional firm. Omega Capital accepted and implemented the recommendations made by the professional firm.

Monetary Authority of Singapore (the "MAS")

CMS Licence renewal:

Omega Capital's Capital Markets Service licence (the "CMS Licence"), which was issued by the MAS, was due for renewal in March 2009.

Omega Capital, on its own accord, did not seek a renewal of its CMS Licence.

Supervisory warnings:

1. On 21 August 2009, Omega Capital was given a written warning by the MAS for contravention of
   Section 96(1) of the Securities Future Act ("SFA"). This was related to the appointment of a director onto the board of directors of Omega Capital without prior approval of the MAS.
   No penalty was imposed against Omega Capital or its directors.
2. On 21 August 2009, Mr. Tan was given a warning by the MAS for not promptly informing them on the disposal of his interest in a private company and the resignation of his directorship in that company.
   No penalty was imposed on Mr. Tan.
3. On 12 February 2007, one of Omega Capital's director was given a supervisory warning for contravention of Section 84(1)(b) of the SFA as Omega Capital has submitted its licence renewal application less than one month before the expiry.
   No penalty was imposed on the director concerned or Omega Capital or its directors.
4. On 8 November 2004, Omega Capital was given a written warning for non-compliance with Regulation 5 of the Securities & Futures (Licensing & Conduct of Business) Regulations on its failure to notify the MAS on changes to a representative's particulars. This was related to Mr. Tan's resignation as an independent director in a listed company.
   No penalty was imposed against Omega Capital or Mr. Tan.

5. On 18 October 2004, Omega Capital was given a written warning on the non-compliance with licence condition and the Securities and Futures (Financial & Margin Requirements for Holders of Capital Markets Services Licences) Regulations 2002 on the following issues:

1. Failure to promptly notify MAS of effective date of the change to shareholdings of one of the directors even if the change does not require prior approval from the MAS;
2. Failure to comply with regulation 27 of the SFA - late lodgement of statement of assets and liabilities in Form 1 and statement of financial resources and total risk requirement in Form 5; and
3. Failure to promptly notify MAS of the resignation of one of the directors.

No penalty was imposed against Omega Capital or its directors.

Assessment of the Nominating Committee ("NC") and the Board of the suitability of Mr. Tan pursuant to Rule 210(5)(b) of the Listing Rules

The NC, and the Board, with Mr Tan recusing himself from the NC and Board, having considered that no penalty was imposed against Mr. Tan, and having considered the NC's assessment of Mr. Tan's overall contribution and performance as a director of the Company, is of the view that, notwithstanding the above disclosure, Mr. Tan is suitable to be appointed as a director of a listed company in Singapore. Accordingly, the NC and the Board recommend the re-election of Mr. Tan as Lead Independent Director of the Company.

By Order of the Board

Dr Chen Mun

Chairman/Chief Executive Officer

23 July 2021