Asset Acquisitions and Disposals::Termination of Sale and Purchase Agreement with Sichuan Shengdai Food Co., Ltd

TERMINATION OF SALE AND PURCHASE AGREEMENT WITH SICHUAN SHENGDAI FOOD CO., LTD

Keppel Corporation Limited (the "Company") refers to its announcement on 6 August 2018 on the conditional sale and purchase agreement ("SPA") entered into by Keppel Land China Limited's wholly owned subsidiary, Chengdu Hillstreet Development Co., Ltd ("Chengdu Hillstreet"), with Sichuan Shengdai Food Co., Ltd ("Vendor") to acquire its interest in a company to be incorporated and into which the Vendor was to inject a 3.35ha plot of land in Chengdu, China ("2018 Announcement").

Unless otherwise defined herein, all capitalised terms shall have the same meaning as that set out in the 2018 Announcement.

As stated in the 2018 Announcement, the Acquisition was conditional upon, inter alia, the Vendor securing formal regulatory approval from the relevant authorities in relation to the transaction. To date, the Vendor was unable to secure the relevant formal regulatory approval.

In view of the above, Chengdu Hillstreet and the Vendor have agreed to terminate the SPA with effect from 22 September 2021. Chengdu Hillstreet has not made any payments to the Vendor for the Acquisition. After termination of the SPA, the parties have no further liability to each other.

The abovementioned termination will not have any material impact on the earnings per share and net tangible asset per share of the Company for the current financial year.

22 September 2021