HC Surgical Specialists : Acquisition of the Remaining 49% of the Issued and Paid-Up Share Capital in Jason Lim Endoscopy and Surgery Pte. Ltd. – Receipt of the Listing and Quotation Notice Download

HC SURGICAL SPECIALISTS LIMITED

Incorporated in the Republic of Singapore

Registration No. 201533429G

ACQUISITION OF THE REMAINING 49% OF THE ISSUED AND PAID-UP SHARE

CAPITAL IN JASON LIM ENDOSCOPY AND SURGERY PTE. LTD.

• RECEIPT OF THE LISTING AND QUOTATION NOTICE IN RESPECT OF AN
  AGGREGATE OF 4,914,277 CONSIDERATION SHARES

Unless otherwise defined, capitalized terms used in this announcement shall have the same meaning as used in the Company's announcement dated 23 August 2021 in relation to the Acquisition of the remaining 49% of the issued and paid-up share capital of Jason Lim Endoscopy and Surgery Pte. Ltd. (the "Announcement").

Further to the Announcement, the Board of Directors of HC Surgical Specialists Limited is pleased to announce that the Company had on 8 September 2023, received the listing and quotation notice ("Notice") from the SGX-ST for the listing and quotation in respect of an aggregate of 4,914,277 Consideration Shares to be issued to Dr. Jason Lim at an issue price of S$0.3687 for each Consideration Share, pursuant to the terms of the SPA.

The listing and quotation of the aggregate of 4,914,277 Consideration Shares is subject to compliance with the listing requirements of the SGX-ST. The issue of the Notice by the SGX-ST is not an indication of the merits of the Consideration Shares, the Acquisition, HC Surgical Specialists Limited and/or its subsidiaries.

In the event the Company acquires any asset/business from Dr. Jason Lim, Jason Lim Holdings Pte. Ltd. and/or their related parties/associates, the SGX-ST reserves the right to aggregate the acquisitions and deem the subsequent asset injections as a very substantial acquisition or reverse takeover under Catalist Rule 1015.

The Company will make the necessary announcement upon the allotment and issuance of the Consideration Shares.

By Order of the Board

Dr. Heah Sieu Min

Executive Director and Chief Executive Officer

9 September 2023

About HC Surgical Specialists Limited

HC Surgical Specialists Limited (the "Company") was incorporated on 1 September 2015 in Singapore and listed on Catalist of the Singapore Exchange Securities Trading Limited on 3 November 2016. The Company, its subsidiaries and associated company are a medical services group primarily engaged in

the provision of endoscopic procedures, including gastroscopies and colonoscopies and general surgery services with a focus on colorectal procedures across a network of 15 clinics located throughout Singapore.

This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

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. Pong Chen Yih, Chief Operating Officer, at 7 Temasek Boulevard, #18-03B Suntec Tower 1, Singapore 038987, telephone [phone].