General Announcement::USE OF IPO PROCEEDS

ALLIANCE HEALTHCARE GROUP LIMITED

(Incorporated in the Republic of Singapore on 6 June 2006)

(UEN. 200608233K)

USE OF IPO PROCEEDS

The board of directors (the "Board") of Alliance Healthcare Group Limited (the "Company" and together with its subsidiaries, the "Group") refers to the Company's announcement today in relation to the completion of the purchase of an aggregate of 7,000 ordinary shares in, or 20% of the share capital in SG IMED Pte. Ltd. by Alliance Healthcare Pte. Ltd., a wholly-owned subsidiary of the Company (the "Purchase") for an aggregate cash consideration of S$630,000.00. The Board wishes to announce that the proceeds from the Company's initial public offering ("IPO") in May 2019 have been utilised for the Purchase and accordingly, as at the date of this announcement, the status of the Company's use of IPO proceeds is as follows:

			Allocated	Utilised	Balance
			S$'000	S$'000	S$'000
(i)	To expand business through (a) the expansion of	3,000	1,680	1,320
	network of self-owned GP clinics, specialist care
	services and medical facilities in Singapore as well
	as (b) acquisitions, joint ventures and/or strategic
	alliances
(ii) To invest in technology systems as part of the	500	500	-
	digital transformation of the delivery of healthcare
	services
(iii) To expand pharmaceutical services business	200	200	-
(iv)	For general working capital requirements (1) (2)	1,028	1,028	-
(v) For payment of underwriting and placement	1,672	1,672	-
	commissions as well as listing expenses (1)
	Gross proceeds from IPO
	6,400	5,080	1,320

Notes:

1. The Company incurred actual IPO expenses of S$1.672 million. The amount of S$189,000 in excess of the estimated IPO expenses of S$1.861 million has been re-allocated for general working capital purposes.
2. The Company has fully utilised the amount allocated for general working capital requirements for purchase of inventories.

The above utilisation is in accordance with the intended use of proceeds from the IPO as stated in the Company's offer document dated 24 May 2019.

BY ORDER OF THE BOARD

Dr Barry Thng Lip Mong

Executive Chairman and Chief Executive Officer

22 September 2021

This announcement has been reviewed by the Company's sponsor, RHB Bank Berhad, through its Singapore branch (the "Sponsor") in accordance with Rule 226(2)(b) of the Catalist Rules. This announcement has not been examined or approved by the SGX-ST and the SGX-ST 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 Alvin Soh, Head, Corporate Finance, RHB Bank Berhad, Singapore branch, at 90 Cecil Street, #04-00 Singapore 069531, Telephone: [phone].