Waiver::Update on Further Extension of Time to hold the Company's AGM and issue Sustainability Report

ALLIED TECHNOLOGIES LIMITED

(Incorporated in the Republic of Singapore)

(Registration Number 199004310E)

UPDATE ON APPLICATION FOR A FURTHER EXTENSION OF TIME TO (I) HOLD ITS ANNUAL GENERAL MEETING ("AGM") FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 ("FY2020"); AND (II) ISSUE ITS SUSTAINABILITY REPORT ("SR") FOR FY2020

The Board of Directors (the "Board") of Allied Technologies Limited (the "Company" and together with its subsidiaries, the "Group") refers to its announcements dated:

1. 1 April 2021 and 15 April 2021 relating to the Company's initial application to the SGX RegCo for an extension of time to hold its AGM for FY2020 and to issue its SR for FY2020; and
2. 30 September 2021 (the "Further Extension Announcement") relating to the Company's application to the SGX RegCo for a further extension of time to hold its AGM and to issue its SR for FY2020 (the "Further Extension Application").

Further to the Company's initial extension of time application dated 1 April 2021 and in accordance with the terms of the waiver granted by the SGX RegCo on 15 April 2021, the Company is required to convene its AGM by 22 October 2021. In order to meet this timing, the Company would have had to appoint a new audit firm and issue its audited financial statements by 7 October 2021. However, as the special audit report has yet to be issued, the Company is unable to provide alternative and potential audit firms which have been approached with the special audit report, and has hence been unable to appoint an auditor for the audit of its financial results for FY2020.

Accordingly, and as announced in the Further Extension Announcement, the Company has made an application to the SGX RegCo for a further extension of time to hold its AGM and issue its SR for FY2020. The Further Extension Application was submitted on 30 September 2021 and is in the midst of review. Please refer to the Company's announcement dated 15 April 2021 for more information on the factors resulting in more time being required for the preparation and release of the special audit report.

The Company will make further announcements to update shareholders as and when there are material developments in relation to the Further Extension Application. Shareholders should note that as at the date of this announcement, there is no certainty or assurance that the Further Extension Application will be granted by the SGX RegCo.

BY ORDER OF THE BOARD

Leow Wee Kia Clement

Chief Executive Officer and Executive Director

8 October 2021

This announcement has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (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 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 Bernard Lui. Tel: [phone] Email: [e-mail]