Asset Acquisitions and Disposals::ACQUISITION OF EQUITY INTEREST IN CHON HUA PTE. LTD.

GOODLAND GROUP LIMITED

Company Registration No.: 200405522N

(Incorporated in the Republic of Singapore)

ACQUISITION OF EQUITY INTEREST IN CHON HUA PTE. LTD.

The Board of Directors (the "Board") of Goodland Group Limited (the "Company" and together with its subsidiaries, the "Group") wishes to announce that Peg West Pte. Ltd., a wholly-owned subsidiary of the Company, has subscribed for 2,500 ordinary shares of S$1.00 each, representing 50% equity stake in Chon Hua Pte. Ltd. ("CH"), a company incorporated in Singapore with a paid-up capital of 5,000 ordinary shares of S$1.00 each (the "Acquisition").

CH's principal activities are those of real estate developers. On 13 October 2021, CH was awarded a design and build contract to erect an 8-storey commercial building (the "Project"); and invited the Group to participate in the Project. The Acquisition entitles the Group to directly undertake the construction of the Project.

The Acquisition will be funded through internal resources and is not expected to have any material impact on the net tangible assets and earnings per share of the Company and the Group for the current financial year ending 30 September 2022.

None of the Directors or substantial shareholders of the Company has any interest, direct or indirect in the above transaction, save for their shareholdings in the Company.

BY ORDER OF THE BOARD

Hor Swee Liang

Company Secretary

15 October 2021