General Announcement::UPDATE ON INVESTMENT IN HMK ENERGY PTE. LTD. - FURTHER EXTENSION OF BONDS MATURITY DATE

(Incorporated in the Republic of Singapore)

Company Registration No. 200509967G

UPDATE ON INVESTMENT IN HMK ENERGY PTE. LTD. - FURTHER EXTENSION OF BONDS' MATURITY DATE

The Board of Directors (the "Board") of Natural Cool Holdings Limited (the "Company") refers to its previous announcements dated 18 August 2014, 18 July 2017, 25 July 2018 and 22 July 2020. Unless otherwise defined herein, all capitalised terms used in this announcement shall have the meaning ascribed to them in the Company's previous announcements.

The Board wishes to announce that further to a meeting of bondholders held on 27 July 2021, the maturity date of all the outstanding zero-coupon convertible bonds ("Bonds") issued by HMK Energy Pte Ltd ("HMK Energy") and which are due in August 2022, has been further extended to May 2039 which coincides with the end of tenure of the Production Sharing Contract entered into between HMK Energy's subsidiary, PT Harpindo Mitra Kharisma and the Government of Indonesia.

This decision to extend the maturity date of the Bonds was approved by the super-majority vote of the bondholders of the Bonds, with the Company deciding that it would be in its best interest to vote against the decision, which it has done so.

The abovesaid extension of Bonds' maturity date is not expected to have any material impact on the Company's financial position for the financial year ending 31 December 2021 as the Bonds have already been fully impaired in its accounts in the financial year ended 31 December 2019.

None of the Directors or controlling shareholders of the Company has any direct or indirect interest in the abovesaid transaction.

BY ORDER OF THE BOARD

Tsng Joo Peng

Group Chief Executive Officer

28 July 2021

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About Natural Cool Holdings Limited

Established in 1989 and listed on Catalist (formerly known as SESDAQ) in May 2006, Natural Cool provides installation, maintenance, repair and replacement services for air-conditioning systems to the residential segment, both public and private; and commercial sectors, which includes factories, offices, condominiums, schools and hospitals, in Singapore. In addition, the Group sells air-conditioning components and tools used for the installation and servicing of air-conditioning business.

The Group is also engaged in manufacturing and sale of industrial paints and solvents. principally under the 'Cougar' brand.

In addition, the Group has a food and beverage division which manufactures, distributes and retails cooked dim sum and soya bean beverages in Singapore.

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms Lim Hui Ling, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, [e-mail].

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