General Announcement::Allotment and Issuance of Consideration Shares

SGXNET Announcement

AEM Holdings Ltd.

(Registration No. 200006417D)

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ACQUISITION OF 100% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF

INSPIRAIN TECHNOLOGIES PTE. LTD.

ALLOTMENT AND ISSUANCE OF CONSIDERATION SHARES

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The Board of Directors (the "Board") of AEM Holdings Ltd. (the "Company") refers to the announcement made by the Company on 30 September 2017, 13 April 2020, 22 April 2020, 29 December 2020 and 7 May 2021 (collectively, the "Announcements") in relation to the acquisition of 100% of the issued shares in the share capital of InspiRain Technologies Pte. Ltd. ("InspiRain") ("Acquisition") and the proposed issuance of 1,636,200 new ordinary shares of the Company (the "Consideration Shares") as part of the Purchase Price for the Acquisition.

Unless otherwise defined, all capitalised terms used and not defined herein shall have the same meanings given to them in the Announcements.

Further to the Announcements, the Board wishes to announce that the final tranche of Consideration Shares of 400,000 ordinary shares had been allotted and issued to the Vendors today.

The following Consideration Shares were issued at the price of S$4.11 per Consideration Share to the respective Vendors:

Name of Vendor	Number of Consideration Shares issued
HZA Corporation Pte. Ltd.	331,240
Cui Ming Lei	32,560
Di Minico Christopher Thomas	36,200
Total	400,000

These Consideration Shares rank pari passu in all respects with the existing issued and paid up ordinary shares of the Company except that the Consideration Shares will not be entitled to any dividends, rights, allotments or other distributions, the record date of which is before the date of allotment and issue of the Consideration Shares.

The Consideration Shares are expected to be listed and quoted on the Official List of the Singapore Exchange Securities Trading Limited on or about 8 September 2021 and trading of the Consideration Shares is expected to commence with effect from 9.00 a.m. on the same date.

Following the allotment and issuance of these Consideration Shares, the current total number of issued and paid-up ordinary shares of the Company is 309,192,506 (excluding 1,362,980 treasury shares).

By Order of the Board

AEM HOLDINGS LTD.

Chandran Nair

Chief Executive Officer

6 September 2021

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