REPL::Placements::PROPOSED PLACEMENT OF 14,477,018 NEW ORDINARY SHARES - RECEIPT OF APPROVAL IN-PRINCIPLE

METAL COMPONENT ENGINEERING LIMITED

(Incorporated in the Republic of Singapore)

(Company Registration No.: 198804700N)

PROPOSED PLACEMENT OF AN AGGREGATE OF 14,477,018 NEW ORDINARY SHARES AT AN ISSUE PRICE OF S$0.05526 FOR EACH PLACEMENT SHARE (THE "PROPOSED PLACEMENT")

• RECEIPT OF APPROVAL IN-PRINCIPLE FROM THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED FOR LISTING AND QUOTATION 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 ("Company") announcement dated 13 July 2021 in relation to the Proposed Placement (the "Announcement").

The board of directors (the "Board") of the Company refers to the Announcement and is pleased to announce that the Company had, on 26 July 2021, received the approval in-principle ("AIP") from the SGX-ST for the listing of and quotation for the Placement Shares on Catalist, subject to compliance with the SGX-ST's listing requirements for the Placement Shares.

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. Pursuant to the AIP, the Placement Shares have to be placed out within seven (7) market days from the date of the AIP.

The Company will make an announcement upon the allotment and issuance, as well as the listing of and quotation for the Placement Shares on Catalist.

BY ORDER OF THE BOARD

Lee Wei Hsiung

Company Secretary

26 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].