Employee Stock Option/ Share Scheme::ISSUE AND ALLOTMENT OF NEW 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") refers the Company's announcements dated (i) 27 June 2018, in relation to the grant of share options pursuant to the MCE Share Option Scheme 2014 ("2014 Scheme"), and (ii) 16 June 2021, in relation to the receipt of approval in-principle from the Singapore Exchange Securities Trading Limited for the listing and quotation of new shares pursuant to the 2014 Scheme.

The Board wishes to announce that the Company had, on 15 July 2021, issued and allotted an aggregate of 97,000 new ordinary shares in the capital of the Company ("New Shares") pursuant to the exercise of 97,000 options granted under the 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 19 July 2021 and trading of the New Shares will commence with effect from 9.00 a.m. on 19 July 2021.

Following the issuance of the New Shares, the total number of issued Shares has increased from 422,959,769 Shares to 423,056,769 Shares.

BY ORDER OF THE BOARD

Lee Wei Hsiung

Company Secretary

15 July 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].