Asset Acquisitions and Disposals::Proposed Acquisition of Groceries Businesses in Malaysia - Update Announcement

MERCURIUS CAPITAL INVESTMENT LIMITED

(Incorporated in Singapore)

(Company Registration No. 198200473E) (the "Company")

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PROPOSED ACQUISITION OF GROCERIES BUSINESSES IN MALAYSIA

• UPDATE ANNOUNCEMENT
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The board of directors (the "Board" or the "Directors") of Mercurius Capital Investment Limited (the "Company", and

together with its subsidiaries, the "Group") refers to the announcement dated 9 April 2021 in relation to the signing of a legally binding term sheet in respect of the proposed acquisition of groceries businesses in Malaysia (the

"Announcement").

Unless otherwise defined, all capitalised terms herein shall have the same meanings as ascribed to them in the Announcement.

The Board wishes to update Shareholders that the Group's appointed legal counsels in Malaysia have commenced

the drafting and preparation of the necessary legal documentation for the Proposed Acquisition as well as their legal

due diligence investigation in respect of the Target Group and its businesses. The Company's management has also

commenced their review of the financial statements and related financial information of the Target Group.

The Company will make further announcements as and when there are any material developments in relation to the Proposed Acquisition.

BY ORDER OF THE BOARD

Chang Wei Lu

Executive Chairman and Chief Executive Officer

7 June 2021

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].