General Announcement::Despatch of Circular and Notice of Extraordinary General Meeting

NGSC LIMITED

Company Registration No. 196400100R

ANNOUNCEMENT

DESPATCH OF CIRCULAR AND NOTICE OF EXTRAORDINARY

GENERAL MEETING

Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings ascribed to them in the announcement made by NGSC Limited (the "Company") on 11 July 2021 titled "Delisting of the Company from the Main Board of the Singapore Exchange Securities Trading Limited by way of a Proposed Selective Capital Reduction" (the "SCR Announcement").

The Board refers to the SCR Announcement which stated, inter alia, the Company's proposal to seek Shareholders' approval at an EGM to be convened to implement the Selective Capital Reduction by cancelling all of the Shares (excluding treasury shares) held by the Shareholders except those held by the Controlling Shareholders, and consequent delisting.

In addition, the Company had, in its annual general meeting held on 12 May 2017 ("FY2016 AGM"), sought and obtained Shareholders' approval to pay the sum of S$150,200 in cash as part payment of directors' fees for the financial year ended 31 March 2016. The Company has paid these fees in cash to the relevant persons. In the notice issued for the FY2016 AGM (the "FY2016 Notice of AGM"), the Company stated that it would seek Shareholders' approval in a separate general meeting to be convened by the Company for the payment of the remaining proposed directors' fees for FY2016 of S$158,141 to be paid in the form of Shares. However, as trading in the Company's securities is currently suspended, the Directors propose to seek Shareholders' approval, by way of an ordinary resolution at an EGM to be convened, for payment of the sum of S$158,141 in cash (and not Shares) to the relevant persons as directors' fees for FY2016 (the "Directors' Fees Payment").

The Board wishes to announce that the Company has today despatched a circular dated 3 November 2021 ("Circular") in relation to the Selective Capital Reduction and the Directors' Fees Payment. The purpose of the Circular is to provide Shareholders with, among others, information relating to the Selective Capital Reduction and the Directors' Fees Payment, together with the notice of the extraordinary general meeting to be held on 25 November 2021 at 10.00 a.m., for the purposes of seeking the approval of the relevant Shareholders for the resolutions listed therein.

The EGM will be convened and held by electronic means. Shareholders must appoint the Chairman of the EGM as their proxy to attend, speak and vote on their behalf at the EGM. Shareholders should refer to the Circular and the Notice of EGM for more information on the EGM, including information on the alternative arrangements for Shareholders to participate in the EGM by way of electronic means.

Shareholders who do not receive the Circular within seven (7) days from the date hereof should contact the Company's share registrar, B.A.C.S Private Limited at 8 Robinson Road, #03-00 ASO Building, Singapore 048544. An electronic copy of the Circular is also available on the website of the SGX-ST at http://www.sgx.com. Shareholders are advised to read the Circular carefully.

By Order of the Board

NGSC Limited

Michael Kuan-Chi Sun

Executive Director

3 November 2021

This announcement has not been examined or approved by the SGX-ST. 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.