General Announcement::Letter to Shareholders dated 14 June 2021

MC PAYMENT LIMITED

(formerly known as Artivision Technologies Ltd.) (Incorporated in the Republic of Singapore) (Company Registration No. 200407031R)

LETTER TO SHAREHOLDERS DATED 14 JUNE 2021

The board of directors (the "Board") of MC Payment Limited (the "Company") wishes to announce that the Executive Director and Chief Executive Officer of the Company, Mr Anthony Koh, had on 14 June 2021 issued a letter dated on the same date to all the shareholders of the Company and posted the same on the Company's website at the URL https://investor.mcpayment.com/egm-2021/.A copy of the letter is attached to this announcement.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company. If in doubt about the action they should take, shareholders and potential investors of the Company should consult their stockbrokers, bankers, solicitors, accountants, tax advisers and/or other professional advisers.

BY ORDER OF THE BOARD

Albert Saychuan Cheok

Non-Executive Chairman and Independent Director

15 June 2021

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist ("Catalist Rules").

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].

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Letter to the shareholders of MC Payment Limited ("MC Payment") (the "Shareholders")

SINGAPORE, June 14, 2021

Dear Shareholders,

As you may be aware, the media has picked up on certain statements by MC Payment's controlling shareholder, Mr Ching Chiat Kwong ("Mr Ching"), in relation to Mr Ching's requisitions to (1) appoint 5 directors onto the Board and (2) remove all but one member of the Board. Links to the media reports concerning the statements made by Mr Ching and the Board's preliminary response to these media reports may be accessed here. The Board will provide a more detailed response to Mr Ching's allegations in due course.

The Board deeply regrets this state of affairs. It is unfortunate that MC Payment and its Shareholders have been drawn in, and that extraordinary general meetings had to be convened so soon after MC Payment's recently-held annual general meeting as a result.

At the outset, the Board wishes to state that its belief is that focus should be placed on developing MC Payment's growth strategies and creating shareholder value. The Board believes that the MC Payment's limited time and resources are best spent on advancing the interests of the Shareholders. The spotlight should be on creating growth and economic value for the Shareholders.

The Board wishes for MC Payment to continue to stay above the fray.

The Board wants MC Payment to be able to go back to doing the "business of business" as soon as possible; to get back to the business of creating growth and economic value for all shareholders and stakeholders. The Board's commitment has consistently been to the growth of MC Payment's business.

Despite recent events, the Board would like to assure the Shareholders that it will be continuing with its commitment to transform MC Payment from what it is now to a full spectrum digital data and digital financial ecosystem company. Moving forward, the Board hopes to focus on the development of MC Payment's planned growth trajectory and strategies and to help MC Payment capitalise on the full spectrum of digital opportunities, including digital data platforms, cloud services, data analytics, AI-assisted predictive analysis for companies and blockchain technology.

As a demonstration of its commitment and capability, the Board notes that it has made significant strides in taking MC Payment to its next phase of growth, following MC Payment's successful reverse takeover of Artivision Technologies Ltd. in February 2021. Among other things, the Board has introduced new services and signed new business contracts. Some of MC Payment's initiatives are detailed in the announcements below:

• Launch of payment platform for Mosque-Madrasah-Wakaf Shared services
• MC Payment Launches E-Payment Services For Malaysia's Educational Services
  Industry

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• MC Payment Rolls Out Buy-Now-Pay-Later Transactions For Its O2O Platform
• MC Payment Launches Seamless, Hassle-Free Solution for Facebook Live Selling
• MC Payment Adds Rabbit LINE Pay to Payment Platform

The Board intends to direct its efforts to continuing the development and expansion and growth of the business of MC Payment.

The Board looks forward to your continued support on this journey!

Enclosed in the Appendix is the credentials of our Board of Directors.

Sincerely,

Anthony Koh

CEO, MC Payment

#End#

About MC Payment

MC Payment is principally engaged in the provision of merchant payment services and digital commerce enabling services, offering online-to-offline (O2O) solutions through a fully integrated platform with a focus on servicing merchants in the retail, transportation and food and beverage industries. Its end-to-end payment platform offers comprehensive solutions for merchants, ranging from hardware and software to data analytics and other technology-drivenvalue-added services tailored to specific industries. Its solutions cater to merchants with both on-line and off-line presences, provided through a unified platform digitalising engagements across all channels. MC Payment currently has a presence in four geographical markets - Singapore, Malaysia, Indonesia and Thailand - with ambitions to become a regional player.

For more information, please visit us at http://mcpayment.com/

Investor Relations and Media Contact:

Ms Loke Chunying

Mobile [phone]

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Email [e-mail]

This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements. The Company makes no representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements or representations contained in this press release with respect to the Company

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APPENDIX- MC Payment's Board of Directors - Their Credentials

Mr. Albert Saychuan CHEOK

Chairman and Independent Director

• Albert has over 45 years of experience in banking and business consultancy in the Asia Pacific region. He comes with an impeccable record in central banking, commercial banking and corporate sector arenas.
• Albert was previously (now entitled) Assistant Governor of the Reserve Bank of Australia, Deputy Commissioner of Banking of Hong Kong, Executive Director at the Hong Kong Monetary Authority, and Chairman of Bangkok Bank Berhad. Albert was until recently, the Assistance Governor of the Malaysian Institute of Corporate Governance.
• Albert was the inaugural Chairman of the highly successful First REIT, the first health REIT to be listed. Under his tenure, Albert was awarded the prestigious award of Top REIT Fund Manager in Asia in 2016.
• Presently, Albert is the Founding Chairman of 5G Networks, one of the fastest growing digital companies in Australia. 5GN's major subsidiary is WCG, the largest full service digital provider in Australia to small and medium businesses.
• In 2006, together with Mike Poon, the main persona, Albert and some other brave hearts co-founded China Aircraft Leasing Company (CALC), which has grown over the years to become one of the largest aircraft leasing companies in the world and the only full spectrum aircraft lessor. Albert remains a shareholder and is currently the Chairman of the Audit committee of CALC.
• He is currently also the Chairman of Supermax Corporation Berhad, the world's second largest glove manufacturer in the world.

Mr. Anthony Koh Beng Kiok

Chief Executive Officer, Executive Director

• Started his career as the sole proprietor of Kepha Design and Contracts
• Previously served as a director at Alternative Media (nka Property Portal!), an internet startup.
• Anthony has been instrumental in setting the strategic direction and managing the operations of the Group, having co-founded the company in 2005 originally as a payment hardware company, providing POS devices. He has expanded the Group into one of the leading O2O business service solutions providers for merchants. During this period, MC Payment was successful in securing payment licenses in four countries in the region and became the first digital payment services company to be listed on SGX.

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