Employee Stock Option/ Share Scheme::ISSUE AND ALLOTMENT OF NEW ORDINARY SHARES PURSUANT TO THE EXERCISE OF SHARE OPTIONS

METAL COMPONENT ENGINEERING LIMITED

(Incorporated in the Republic of Singapore)

(Company Registration No.: 198804700N)

ISSUE AND ALLOTMENT OF NEW ORDINARY SHARES PURSUANT TO THE EXERCISE OF SHARE OPTIONS UNDER THE MCE SHARE OPTION SCHEME 2014

The board of directors (the "Board") of Metal Component Engineering Limited (the "Company") wishes to announce that the Company had, on 1 December 2021, issued and allotted an aggregate of 80,500 new ordinary shares in the capital of the Company ("New Shares") pursuant to the exercise of 80,500 options granted under the MCE Share Option Scheme 2014 (the "MCE 2014 Scheme"), at the exercise price of S$0.034 per New Share.

The New Shares rank pari passu in all respects with the existing issued ordinary shares in the capital of the Company ("Shares"), save that they shall not rank for any dividends, rights, allotments, distribution or entitlement, the record date of which falls on or prior to the date of issue of the New Shares. The New Shares are expected to be listed and quoted on Catalist on or around 3 December 2021 and trading of the New Shares is expected to commence with effect from 9.00 a.m. on the same day.

Following the issuance and allotment of the New Shares, the total number of issued Shares has increased from 437,643,787 Shares to 437,724,287 Shares.

BY ORDER OF THE BOARD

Lee Wei Hsiung

Company Secretary

1 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].