Kitchen Culture : Proposed Placement of 40,572,000 New Ordinary Shares - Allotment and Issue of Placement Shares

KITCHEN CULTURE HOLDINGS LTD.

(Company Registration No: 201107179D)

(Incorporated in the Republic of Singapore on 25 March 2011)

PROPOSED PLACEMENT OF 40,572,000 NEW ORDINARY SHARES IN THE CAPITAL OF KITCHEN CULTURE HOLDINGS LTD. AT A PLACEMENT PRICE OF S$0.235 PER SHARE

• ALLOTMENT AND ISSUE OF PLACEMENT SHARES

The Board of Directors (the "Board" or "Directors") of Kitchen Culture Holdings Ltd. (the "Company" and together with its subsidiaries, the "Group") refers to the Company's announcements dated 22 July 2020, 24 July 2020, 27 July 2020, 3 August 2020 and 6 August 2020 (the "Announcements") in relation to the proposed placement of an aggregate of 40,572,000 new ordinary shares (the "Placement Shares") in the capital of the Company at an issue price of S$0.235 per Placement Share (the "Proposed Placement"). Unless otherwise defined, all capitalised terms used herein shall bear the same meanings as ascribed to them in the Announcements.

The Board wishes to announce that, in accordance with the terms and conditions set out in the respective Subscription Agreements, the Company has received an aggregate consideration of S$1,175,000 from a Subscriber. Accordingly, the Company has on 12 August 2020 allotted and issued 5,000,000 Placement Shares to such Subscriber, which are expected to be listed and quoted on Catalist with effect from 9.00 a.m. on or around 14 August 2020.

The Placement Shares will rank pari passu with and carry all rights similar to the existing Shares except for any dividends, right, allotment or other distributions, the record date for which falls on or before the issue date.

Following the allotment and issue of the 5,000,000 Placement Shares, the share capital of the Company has increased from 325,165,283 Shares to 330,165,283 Shares.

Following the abovementioned allotment and issue of Placement Shares, the Proposed Placement has accordingly been completed on 12 August 2020.

By Order of the Board

Lim Wee Li

Executive Chairman and Chief Executive Officer

12 August 2020

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this

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announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms. Lee Khai Yinn (Tel [phone]), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

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