Extraordinary/ Special General Meeting :: Voluntary

AGV GROUP LIMITED

(Company Registration No. 201536566H)

(Incorporated in the Republic of Singapore on 2 October 2015)

NOTICE OF EXTRAORDINARY GENERAL MEETING CONVENED BY REQUISITIONING

PERSONS

Capitalised terms not defined in this announcement shall have the meanings ascribed to them in the Company's announcement dated 14 December 2021 regarding the receipt of a requisition notice by the Company (the "Earlier Announcement").

The Board of Directors (the "Board") of AGV Group Limited (the "Company" and together with its subsidiaries, the "Group") refers to the Earlier Announcement as well as the Company's response to the query raised by the Singapore Exchange Securities Trading Limited (the "SGX-ST") in relation to the Earlier Announcement, published on 30 December 2021.

The Board wishes to announce that the Company had on 10 January 2022 received a shareholders' circular (the "Circular") from the Requisitioning Persons, enclosing a notice of an extraordinary general meeting (the "EGM") (the "Notice of EGM") called pursuant to Section 177 of the Companies Act 1967 (the "Companies Act"), to be held by way of electronic means on 26 January 2022 at 1.00 p.m., for the purposes of considering the resolutions set out in the Notice of EGM.

Please refer to the Circular, Notice of EGM and proxy form attached to this announcement, for more information on the proposed resolutions by the Requisitioning Persons. Please note that the Requisitioning Persons has stipulated in the Notice of EGM that the proxy form must be submitted in the following manner: (a) if submitted by post, to be lodged with the Requisitioning Persons' appointed service provider, Complete Corporate Services Pte. Ltd., at 10 Anson Road, #29-07 International Plaza, Singapore 079903, or (b) if submitted via email, be scanned and submitted by way of electronic means via email to [e-mail], not less than 72 hours before the time fixed for the EGM, i.e. by 23 January 2022, Sunday at 1.00 p.m.

The Company and Sponsor has not examined, approved or independently verified the contents of the Circular and Notice of EGM and the Company and Sponsor assumes no responsibility for the contents of the Circular and Notice of EGM, including the correctness of any of the statements or opinions made or reports contained therein.

To ensure compliance with the relevant Catalist Rules relating to changes to the Board, the Nominating Committee of the Company and the Sponsor will be requesting to interview the proposed new directors in order to make a proper and informed assessment of their suitability, taking into account their experience, expertise, character and integrity (the "Assessment"). In addition, the Directors whose removal is a subject matter of the Notice of EGM, intend to make representations regarding their proposed removal (the "Representations"). In this regard, the Company will be making announcement(s) on the Assessment and Representations in due course.

The Company will also take the necessary steps in accordance with the relevant provisions of the Companies Act and its Constitution, and in compliance with applicable rules, will make further announcements as appropriate in accordance with the Catalist Rules.

Trading in the Company's securities on the SGX-ST had been voluntarily suspended by the Company on 24 November 2021.

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BY ORDER OF THE BOARD

Chong Kwang Shih

Lead Independent Director

11 January 2022

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, Hong Leong Finance Limited. It has not been examined or approved by the Exchange and the Exchange assumes no responsibility for the contents of this 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 Mr Kaeson Chui, Vice President at 16 Raffles Quay, #01-05, Hong Leong Building, Singapore 048581, Telephone: [phone].

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