Asset Acquisitions and Disposals::Proposed Diversification and Entry into SSHA - Completion

Far East Group Limited

(Company Registration No. 196400096C)

(Incorporated in the Republic of Singapore on 18 March 1964)

PROPOSED DIVERSIFICATION OF BUSINESS AND ENTRY INTO SUBSCRIPTION AND SHAREHOLDERS AGREEMENT IN RESPECT OF COMFRESH GROUP HOLDINGS PTY LTD - COMPLETION

Unless otherwise specified, all capitalized terms shall have the same meaning ascribed in the announcements dated 23 July 2021, 29 July 2021, 20 August 2021, 8 September 2021 and 23 September 2021 in relation to, inter alia, the subscription and shareholders agreement ("SSHA"), supplemental letter agreement ("SLA"), the Circular and the Results of EGM relating to the issue and allotment of shares in the capital of Comfresh to the Company (the "Announcements").

The Board of Directors (the "Board") of Far East Group Limited (the "Company") refers to the Announcements and wishes to announce that on 27 September 2021, the Company has completed the Proposed Subscription, and that 200 new ordinary shares (representing 20% of the total enlarged number of ordinary shares) in the capital of Comfresh have been allotted and issued to the Company, and that AUD$3,300,000, being the balance Subscription Price, has been paid by the Company to Comfresh.

By Order of the Board

Loh Mun Yew

Chief Executive Officer and Executive Director

27 September 2021

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 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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