The Board of Directors of Ley Choon Group Holdings Limited refers to the announcement entitled "Holding Announcement ­ Debt Restructuring Agreement" dated 31 March 2021 and announced that the binding Term Sheet (the "Term Sheet") in relation to the extension of the Debt Restructuring Agreement (the "DRA") has been executed by all the Eligible Lenders. Pursuant to the Term Sheet, the final repayment date is to be extended from 31 March 2021 to 31 March 2024. Accordingly, the Group will reclassify the borrowings into current and non-current liabilities accordingly and will continue repaying the borrowings over the next three years. The Term Sheet, while binding on the Eligible Lenders, is subject to the execution of a binding addendum (the "Addendum") to the DRA within 90 days of the Term Sheet. The Group is working on the Addendum with its professional advisers and the Eligible Lenders. The Group will make an announcement immediately upon the execution of the Addendum.