General Announcement::RESULTS OF TENDER OFFER EXERCISE IN RESPECT OF OUTSTANDING S$150M 5.70% NOTES DUE 2022

NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO ANY U.S. PERSON.

OXLEY MTN PTE. LTD.

(Incorporated in the Republic of Singapore)

(UEN/Company Registration No. 201429802Z)

OXLEY HOLDINGS LIMITED

(Incorporated in the Republic of Singapore)

(UEN/Company Registration No. 201005612G)

ANNOUNCEMENT OF RESULTS IN CONNECTION WITH THE TENDER OFFER EXERCISE BY OXLEY MTN PTE. LTD. (THE "ISSUER") IN RESPECT OF THE OUTSTANDING S$150,000,000 5.70 PER CENT. NOTES DUE 2022 COMPRISED IN SERIES 002 (ISIN: SG7MB0000006; COMMON CODE: 176678461) (THE "NOTES") ISSUED BY THE ISSUER PURSUANT TO THE U.S.$1,000,000,000 EURO MEDIUM TERM NOTE PROGRAMME OF THE ISSUER UNCONDITIONALLY AND IRREVOCABLY GUARANTEED BY OXLEY HOLDINGS LIMITED

Reference is made to (i) the announcement (the "Announcement") issued by the board of directors (the "Board") of Oxley Holdings Limited (the "Company") on 8 September 2021 in relation to, inter alia, the Invitation and (ii) the invitation memorandum dated 8 September 2021 (the "Invitation Memorandum"). Capitalised or other terms used but not defined herein shall, unless the context otherwise requires, have the meanings as set out in the Announcement and the Invitation Memorandum.

The Board of the Company wishes to announce that its wholly-owned subsidiary, the Issuer, does not intend to extend the Expiration Deadline or re-open the Invitation. Accordingly, the Invitation has expired as at 12.00 p.m. on 22 September 2021.

The Board of the Company also wishes to announce that S$49,750,000 in aggregate principal amount of the Notes have been validly or, subject to the sole and absolute discretion of the Issuer to waive any factor rendering an offer invalid, otherwise offered for sale for cash pursuant to the Invitation (the "Offered Notes"), and that such Offered Notes have been accepted for purchase by Issuer on the terms and conditions set forth in the Invitation Memorandum (the "Final Accepted Offered Notes").

The Settlement Date of the Final Accepted Offered Notes accepted for purchase by the Issuer is expected to be on or about 30 September 2021.

Following the cancellation of the Final Accepted Offered Notes on the Settlement Date, the aggregate principal amount of the Notes outstanding will be S$100,250,000.

By Order of the Board

Ching Chiat Kwong

Executive Chairman and Chief Executive Officer

23 September 2021

NOTE: This announcement does not constitute an invitation to participate in the Invitation. No offer or invitation to issue or redeem any securities is being made pursuant to this release. This announcement must be read in conjunction with the Invitation Memorandum. This announcement does not constitute or form part of, and should not be construed as, an offer for sale or subscription of, or a solicitation of any offer to buy or subscribe for, any securities of the Issuer or any other entity.

THE INVITATION MEMORANDUM IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT")). SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION UNDER, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF, THE SECURITIES ACT. THE NEW NOTES AND THE GUARANTEE THEREOF HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION OF THE UNITED STATES, AND MAY NOT BE OFFERED, SOLD OR DELIVERED, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES UNLESS AN EXEMPTION FROM THE REGISTRATION REQUIREMENT OF THE SECURITIES ACT IS AVAILABLE AND IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND ANY OTHER JURISDICTION.