COMFORTDELGRO CORPORATION LIMITED

(Company Registration No. 200300002K)

(Incorporated in the Republic of Singapore)

ANNOUNCEMENT ON DIVESTMENT OF ASSETS IN LONDON

ComfortDelGro Corporation Limited (the "Company") wishes to announce the following transaction:

The Company's wholly-owned but indirect subsidiaries, incorporated in the United Kingdom (UK), Computer Cab plc ("CCPL"), and Flightlink International Limited ("FIL") entered into agreements with Addison Lee Limited on 16 June 2021 to sell and transfer their identified assets for the provision of taxi and chauffeur car hire services in London ("Identified Assets"), for the total consideration of £3 million, approximately S$5,616,768 (the "Transaction") as part of a strategic review. CCPL and FIL are wholly-owned subsidiaries of UK incorporated, CityFleet Networks Limited (CFN) which is a 100% subsidiary of the Company. The Identified Assets also include some assets belonging to CFN that are related solely to the services in London.

The total consideration is arrived on a "willing buyer willing seller" basis after taking into account, inter alia, the book value and net tangible asset value of identified assets belonging to CFN, CCPL and FIL.

Each of the parties to the Transaction shall endeavour to procure the completion of the transfer of the Identified Assets as soon as reasonably practicable and this is anticipated to be about 20 Business Days from the date of the Agreement.

The Transaction has no material impact on the net tangible assets or earnings per share of the Company for the financial year ended 31 December 2021 and none of the Directors or Substantial Shareholders of the Company have any interests, direct or indirect in the Transaction, save for their respective interests, through their shareholding and/or directorships, as the case may be, in the Company.

BY ORDER OF THE BOARD

COMFORTDELGRO CORPORATION LIMITED

Angeline Joyce Lee Siang Pohr

Company Secretary

17June 2021

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ComfortDelGro Corporation Ltd. published this content on 17 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2021 11:07:02 UTC.