General Announcement::RECEIPT OF S$20.49 MILLION SUBSCRIPTION MONIES FROM THE UNDERTAKING SHAREHOLDER

Leader Environmental Technologies Limited

利德环保技术有限公司

(Incorporated in the Republic of Singapore on 15 August 2006)

(Company Registration Number: 200611799H)

RENOUNCEABLE NON-UNDERWRITTEN RIGHTS ISSUE

RECEIPT OF S$20.49 MILLION SUBSCRIPTION MONIES FROM THE UNDERTAKING

SHAREHOLDER

Unless otherwise defined herein, all capitalised terms used herein shall bear the same meanings ascribed to them in the Company's offer information statement in relation to the Rights Issue (the "Offer Information Statement") lodged with the Monetary Authority of Singapore on 9 July 2021. Any reference to the time of day herein shall be a reference to Singapore time.

1. INTRODUCTION
   The board of directors (the "Director" or "Board") of Leader Environmental Technologies Limited (the "Company" and, together with its subsidiaries, the "Group") refers to the Company's announcements dated 26 April 2021, 3 May 2021, 24 June 2021, 29 June 2021 and 9 July 2021 in relation to the renounceable non-underwritten rights issue (the "Rights Issue") of up to 663,488,100 new ordinary shares in the capital of the Company (the "Rights Shares") at an issue price of S$0.10 for each Rights Share, on the basis of one (1) Rights Share for every two (2) existing ordinary shares in the capital of the Company, fractional entitlements to be disregarded.
2. RECEIPT OF S$20.49 MILLION SUBSCRIPTION MONIES FROM THE UNDERTAKING SHAREHOLDER
   As stated in the Offer Information Statement, Dr Lin Yucheng, the Undertaking Shareholder, has a direct interest in 209,853,000 Shares, representing approximately 15.81% of the Existing Issued Share Capital. To demonstrate his confidence in the Rights Issue and his commitment and support to the Company, the Undertaking Shareholder had executed a Deed of Undertaking, pursuant to which he had irrevocably undertaken to subscribe and pay for in full at the Issue Price, 104,926,500 Rights Shares provisionally allotted to him (the aggregate value of which is S$10,492,650 based on the Issue Price and which amount the Company has received).
   The Undertaking Shareholder has also informed the Company today that he intends to subscribe for up to an additional 100,000,000 excess Rights Shares (the aggregate value of which is S$10,000,000 based on the Issue Price) which remain unsubscribed by other Entitled Shareholders or their renouncees at the closing date of the Rights Issue after satisfying all applications and excess applications (if any) for the Rights Shares. The Company has similarly received the said S$10,000,000 from the Undertaking Shareholder today.
   As such, the Company has received subscription monies from the Undertaking Shareholder amounting to an aggregate of S$20,492,650.

BY ORDER OF THE BOARD

LEADER ENVIRONMENTAL TECHNOLOGIES LIMITED

Lim Poh Yeow

Company secretary

13 July 2021

IMPORTANT NOTICE

This announcement is for information only and does not constitute or form part of any offer or invitation to sell or issue or subscribe for, or any solicitation of any offer to acquire, any Rights Shares or to take up any entitlements to Rights Shares in any jurisdiction in which such an offer or solicitation is unlawful. No person should acquire any Rights Shares except on the basis of the information contained in an offer information statement lodged by the Company with the Monetary Authority of Singapore. The information contained in this announcement is not for release, publication or distribution to persons in the United States and should not be distributed, forwarded to or transmitted in or into any jurisdiction where to do so might constitute a violation of applicable securities laws or regulations. The issue, exercise or sale of Rights Shares and the acquisition or purchase of the Rights Shares are subject to specific legal or regulatory restrictions in certain jurisdictions. The Company assumes no responsibility in the event there is a violation by any person of such restrictions.

The distribution of this announcement into jurisdictions other than Singapore may be restricted by law. Persons into whose possession this announcement and such other documents come should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.

This announcement is not an offer for sale of securities in the United States or elsewhere. The provisional allotments of Rights Shares, the Rights Shares, the provisional allotment letters and/or the application forms for the Rights Shares and excess Rights Shares have not been and will not be registered under the United States Securities Act of 1933 (the "Securities Act"), and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, registration under the Securities Act. There will be no public offering of securities in the United States.