Scrip Election/ Distribution/ DRP::Choice

Second Chance Properties Ltd

(Company Registration No. 198103193M)

1. NOTICE OF RECORD DATE AND PAYMENT DATE FOR PROPOSED FIRST AND FINAL DIVIDEND, AND SPECIAL DIVIDEND

1. APPLICATION OF SCRIP DIVIDEND SCHEME

The Board of Directors (the "Board") of Second Chance Properties Ltd (the "Company") refers to the Company's announcements dated 28 October 2021 in relation to the unaudited financial statement for the financial year ended 31 August 2021 and the declaration of dividend of 5.5 cents per shares.

1. NOTICE OF RECORD DATE

NOTICE IS HEREBY GIVEN THAT the Share Transfer Book and Register of Members of Second Chance Properties Ltd (the "Company") will be closed from 5:00 p.m. (Singapore time) on 29 December 2021 ("Record Date") for the purpose of determining the entitlements of the Company's shareholders ("Shareholders") to a proposed first and final dividend of 0.50 Singapore cents and special dividend of 5 Singapore cents per ordinary shares tax exempt (one-tier) for the financial year ended 31 August 2021 (the "Dividends"), subject to the approval of Shareholders at the forthcoming annual general meeting of the Company to be convened in December 2021 ("2021 AGM").

Duly completed and stamped registrable transfers received by the Company's Share Registrar, Tricor Barbinder Share Registration Services, 80 Robinson Road, #02-00, Singapore 068898, up to 5:00 p.m. (Singapore time) on the Record Date will be registered to determine Shareholders' entitlements to the Dividends.

Shareholders whose securities accounts with The Central Depository (Pte) Limited ("CDP") are credited with ordinary shares in the capital of the Company as at 5:00 p.m. (Singapore time) on the Record Date will be entitled to the Dividends.

The proposed first and final dividend and special dividend shall be payable on or about 11 February 2022, if approved by the Company's Shareholders at the 2021 AGM.

1. APPLICATION OF SCRIP DIVIDEND SCHEME

Notice of Election

Shareholders entitled to the Dividends will be eligible to participate in the Scheme ("Entitled Shareholders") subject to the terms and conditions as set out in the Scheme.

A notice of election will be dispatched to the Entitled Shareholders ("Notice of Election") on or about 6 January 2022. The Entitled Shareholders may elect to participate in the Scheme in relation to part only or all of their entitlements in respect of the Dividends, or they can make a permanent election to participate in the Scheme in respect to all (and not part only) of their entitlements in respect of the Dividends and all future qualifying dividends to which the Scheme applies.

Where a permanent election has been made, participating Shareholders may cancel their participation and withdraw from the Scheme at any time, subject to giving appropriate notice in accordance with the terms and conditions as set out in the Scheme.

The Company will update shareholders when the Notice of Election has been dispatched to Entitled Shareholders.

No action is required if Entitled Shareholders wish to receive the Dividends in cash.

Members Resident Outside Singapore

For practical reasons and to avoid any violation of the securities laws applicable outside Singapore where Members may have their registered addresses, the Scrip Dividend Scheme may, at the discretion of the Directors, not be offered to Overseas Members. No Overseas Member shall have any claim whatsoever against the Company as a result of the Scrip Dividend Scheme not being offered to such Overseas Members. Overseas Members who wish to be eligible to participate in the Scrip Dividend Scheme should provide an address in Singapore for the service of the notices and documents by notifying the Company or, if the Overseas Member is a Depositor, the CDP, not later than five Market Days prior to the Book Closure Date. Depositors should note that all correspondences and notices will be sent to their last registered addresses with CDP.

Fractional entitlements

Fractional entitlements to new Shares under the Scheme will be rounded down to the nearest whole number in lieu of such fractional entitlements or otherwise dealt with in such manner as Directors may deem fit in the interests of the Company and which are acceptable to the Singapore Exchange Securities Trading Limited (the "SGX-ST").

Issue price

In accordance with the terms of the Scheme, for the purpose of application of the Scheme to the Dividends, the issue price of a new Share ("Issue Price") shall be set at a ten per cent (10%) discount to the average of the last dealt prices of the Share on the SGX-ST during the price determination period between 28 December 2021 and 29 December 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). In the event that there is no trading in the Shares between 28 December 2021 and 29 December 2021, the Issue Price shall not exceed the average of the last dealt prices of a Share on the SGX-ST, for each of the Market Days during a period to be determined by the Directors prior to the announcement of the application of the Scrip Dividend Scheme to such Dividends. The Company will update shareholders when the Issue Price is determined.

By Order of the Board

Mohamed Salleh s/o Kadir Mohideen Saibu Maricar

Executive Director and Chief Executive Officer

25 November 2021