REPL::Placements::PROPOSED PLACEMENT OF 66,530,000 NEW ORDINARY SHARES - ALLOTMENT AND ISSUANCE OF PLACEMENT SHARES

METAL COMPONENT ENGINEERING LIMITED

(Incorporated in the Republic of Singapore)

(Company Registration No.: 198804700N)

PROPOSED PLACEMENT OF AN AGGREGATE OF 66,530,000 NEW ORDINARY SHARES AT AN ISSUE PRICE OF S$0.0495 FOR EACH PLACEMENT SHARE (THE "PROPOSED PLACEMENT")

• ALLOTMENT AND ISSUANCE OF THE PLACEMENT SHARES

Unless otherwise defined, all capitalized terms used in this announcement shall have the same meanings ascribed to them in Metal Component Engineering Limited's (the "Company") announcements dated 18 November 2021 and 30 November 2021 in relation to the Proposed Placement (the "Announcements").

The board of directors (the "Board") of the Company refers to the Announcements and is pleased to announce that the Company has, on 2 December 2021, completed the Proposed Placement ("Completion Date"), and 66,530,000 Placement Shares at an Issue Price of S$0.0495 per Placement Share have been allotted and issued to the Placees by the Company on the same day in accordance with the terms of the Placement Agreement.

Following the completion of the Proposed Placement, the total number of issued Shares of the Company has increased from 437,724,287 Shares to 504,254,287 Shares. The Placement Shares were allotted and issued free from all claims, charges, liens and other encumbrances whatsoever and shall rank pari passu in all respects with and carry all rights similar to the existing issued Shares, save that they will not rank for any dividends, rights, allotments, distributions or other entitlements, the record date for which falls on or before the Completion Date.

The Placement Shares are expected to be listed and quoted on Catalist with effect from 9.00 a.m. on 6 December 2021.

The AIP is not to be taken as an indication of the merits of the Proposed Placement, the Placement Shares, the Company, its subsidiaries and their securities.

BY ORDER OF THE BOARD

Lee Wei Hsiung

Company Secretary

2 December 2021

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. ("Sponsor"), in accordance 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 Ms Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road #09-00 ASO Building, Singapore 048544, telephone [phone].