NSL LTD.

UPDATE ON PRECAST OPERATIONS IN MALAYSIA FOLLOWING THE MOVEMENT CONTROL ORDER BY THE GOVERNMENT OF MALAYSIA

NSL Ltd (the "Company") would like to update shareholders that following a mass testing conducted from 22 January 2021 to 26 January 2021 in its subsidiary Eastern Pretech Malaysia's precast factory in Seelong, Senai, Johor, Malaysia ("Seelong Factory"), 92 out of 524 employees have tested positive for Covid-19 by 26 January 2021. Operations at Seelong Factory have been temporarily shut down by the Malaysian Authorities from 27 January 2021 to 9 February 2021 on account of the high number of Covid-19 infections. No activities will be allowed during this period.

These affected employees were asymptomatic and most of them did not have a fever. They were isolated following the swab test taken on the above dates and have since been admitted to Quarantine Facilities for ten days after their results came back positive.

Deep cleaning and thorough sanitisation of the affected factory, living quarters and company vehicles are being carried out in accordance with guidelines from the Ministry of Health. In tandem, all employees at the factory have been put on home quarantine for ten days.

The temporary shutdown of Seelong Factory is not expected to have a significant financial impact, as Management had communicated with key customers and taken the necessary actions to reschedule production output so that production and deliveries will be back on schedule within the next two to four weeks.

The Company is assessing the impact of this development on its business and will continue to monitor the state of health of its workers in Malaysia.

The Board will continue to monitor the evolving situation and will make the appropriate announcement(s) as and when there are material developments on this matter.

By Order of the Board

Lim Su-Ling

Company Secretary

28 January 2021

NSL LTD

317 Outram Road, #03-02, Singapore 169075 Tel: 6536 1000 Fax: 6536 1008 Web:www.nsl.com.sg Reg. No.: 196100107C

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NSL Ltd. published this content on 28 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 January 2021 05:39:02 UTC.