General Announcement::Memiontec Secures 3 New Contracts in Indonesia, totalling S$5.5 Million

PRESS RELEASE - For Immediate Release

Memiontec Secures 3 New Contracts in Indonesia,

Totalling S$5.5 Million in Value, in Both Industrial and Municipal Sectors;

Order Book of S$81.6 Million as of 30 June 2021

• Almost half of the Group's order book are from Indonesia, where the Group has built up its market network, local operation team and deep business presence for more than 20 years.
• Indonesia's water management and infrastructure is anticipated to grow with the country's population growth and places pressure on present water supply systems which, if unchanged, could see a deterioration in the quality of water in the country(1).
• Separately, Memiontec has renewed its exclusive distributorship from Global Specialty Chemical Manufacturer, Japan-based Kuraray, for its Moving Bed Bio Reactor (MBBR) Technology, using polyvinyl alcohol (PVA) gel beads, for the Indonesia market.

Singapore, 27 July 2021 - Memiontec Holdings Ltd. ("Memiontec" or the "Company", and together with its subsidiaries, the "Group"), providing total water solutions in Asia, is pleased to announce that the Group has secured 3 new contracts in Indonesia totalling S$5.5 million in value (the "New Contracts"). With these New Contracts included, Memiontec's order book currently stands at approximately S$81.6 million as of 30 June 2021.

The New Contracts are 2 wastewater treatment projects and 1 water treatment project, and will be undertaken by the Group's local operations team in Indonesia.

Nearly 1 in 2 Indonesians lack access to safe water, with more than 70% of Indonesia's 270 million people relying on potentially contaminated sources. Clean water needs in Jakarta is expected to rise from 28 cubic metres per second (m³/s) in 2017 to 41.6 m³/s in 2030(2).

Indonesia is not a water-scarce country, but limited water infrastructure, uneven distribution and rapid economic development has driven scarcity in parts of the country, especially within the urban areas.

Some of the worst water shortages are felt on Java, Indonesia's most populous island where Jakarta is located. Java is home to more than 60% of the population in Indonesia and many of its largest cities as well as much of its agriculture. However, the island is seriously lacking in water, holding just 10% of the nation's water supplies. Furthermore, Java's rivers are heavily polluted and unsuitable for anything more than livestock and irrigation(3).

1. https://indonesien.ahk.de/en/infocenter/news/news-details/water-management-infrastructure-remains-top-priority-for-govt
2. https://www.asiasentinel.com/p/indonesia-growing-water-safety-crisis
3. https://www.lowyinstitute.org/the-interpreter/in-java-water-is-running-out

1

The Indonesian government has taken measures to continually improve the country's water management and infrastructure. Under the current administration, as many as 7 drinkable water supply systems (SPAM) and the Jakarta sewerage systems are to be developed. The Ministry of Public Works and Housing reported that 2 out of the 7 targeted SPAMs have been completed(4).

Separately, the Group has renewed its exclusive distributorship from Kuraray for its MBBR Technology, which uses PVA gel beads, for a 3-year period starting from 1 July 2021, for the territory of Indonesia ("Renewal of Exclusive Distributorship").

Kuraray is a global specialty chemical manufacturer with global sales worth JPY 541 billion for the financial year ended 31 December 2020 based on reported results. Listed on Tokyo Stock Exchange, Kuraray was founded in 1926 in Kurashiki to commercialise synthetic rayon (a textile fibre) and has since evolved into a global specialty chemical manufacturer. Kuraray also manufactures PVA gel beads in Saijo, Ehime, which is a biocarrier used in biological wastewater treatment that enhances high organic loading and boosting small footprints. PVA gel beads have since been installed in over 400 wastewater treatment plants worldwide(5).

In Indonesia, Memiontec has built on its business presence of more than 20 years to branch into the supply of water through transfer-own-operate-transfer (TOOT) and build-own-operate-transfer (BOOT) projects with public or private entities, since 2016.

Such BOOT and TOOT projects provide recurring income for the Group through the supply and sale of water during the contractual concession period for up to 25 years. There is also income derived from the Group's operations, maintenance and services (OMS) to the water treatment facilities rendered during the contractual concession period.

Currently, the Group has a total of 3 BOOT and TOOT projects, of which 2 projects have started the supply and sale of water while the remaining project is currently under development with the first phase of this project expected to be operational in 2022, barring unforeseen circumstances.

4.https://indonesien.ahk.de/en/infocenter/news/news-details/water-management-infrastructure-remains-top-priority-for-govt5 .For more information on Kuraray, please visithttps://www.kuraray.com/

2

Memiontec's Executive Director and CEO, Mr Tay Kiat Seng, said, "Water is a critical resource for life. Memiontec recognises this and continues to actively engage in sourcing, securing and executing various water treatment projects in Indonesia, either on our own or jointly with reputable and synergetic local partners.

The award of the New Contracts reinforces Memiontec's expertise and track record to successfully execute and deliver challenging water treatment projects in Indonesia.

Indonesia is a key market for the Group and there are significant opportunities for us to address the water challenges in Indonesia with our capabilities, expertise and local experience accumulated over the past 20 years."

Barring unforeseen circumstances, the New Contracts are expected to have a positive impact on the Group's net tangible assets per share and earnings per share for the current financial year ending 31 December 2021. The Renewal of Exclusive Distributorship is not expected to have an impact on the Group's net tangible assets per share and earnings per share for the current financial year ending 31 December 2021.

None of the directors or substantial shareholders of the Company and their respective associates has any interest, direct or indirect, in the New Contracts and the Renewal of Exclusive Distributorship, save for their respective shareholdings in the Company (if any).

Note: The Company's announcements regarding new contracts awarded to the Group as announced from time to time on the SGXNet are not exhaustive as the Group continues to be awarded other contracts, which are smaller in value, in the ordinary course of the Group's business.

-END-

3

About Memiontec Holdings Ltd

(Bloomberg Code: MHL:SP / SGX Code: SYM.SI)

Memiontec Holdings Ltd ("Memiontec" or "the Company", and together with its subsidiaries, "the Group") is a Singapore-basedone-stop total solution water treatment company with over 20 years of experience in water and wastewater management services across Singapore, Indonesia and the PRC.

Through the use of membrane, ion exchange, physical, chemical and biological processes and leveraging its in-house design, engineering, fabrication and assembly capabilities, Memiontec develops reliable, compact, cost-effective, innovative and space-efficient customised water and wastewater treatment solutions across the entire value chain in the water industry.

Serving both municipalities and diverse industries in Asia, the Group has developed strong working relationships with both public and private sector customers in the region including the Public Utilities Board ("PUB"), Obayashi Singapore, Petrochemical Corporation of Singapore, PDAM (national water agency of Indonesia), PT Jakpro (Jakarta state-owned infrastructure developer), McConnell Dowell, PT PP, PT Abipraya Brantas, Sinarmas, Lippo, etc.

For more information, please visit http://memiontec.com/

________________________________________________________________________________

Issued on behalf of Memiontec Holdings Ltd by 8PR Asia Pte Ltd.

Media & Investor Contacts:

Mr. Alex TAN

Mobile: [phone]

Email: [e-mail]

__________________________________________________________________________________

This press release has been prepared by Memiontec Holdings Ltd. (the "Company") and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This press release has not been examined or approved by the SGX-ST and SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Ms. Goh Mei Xian, Associate Director, ZICO Capital Pte. Ltd. at 8 Robinson Road #09-00 ASO Building, Singapore 048544, telephone [phone].

4