The Board of Directors of Pacific Star Development Limited announced that the Company has on 28 January 2022 entered into a loan agreement with CH Biovest Pte. Limited. Pursuant to the Loan Agreement, CH Biovest has agreed to grant a loan facility in the principal amount of SGD 500,000 to the Company, subject to the terms and conditions set out in the Loan Agreement.

A summary of the salient terms of the Loan Agreement is set out below in this announcement. Interest Rate: 25% per annum (based on a 360 day count). The interest on the CH Loan shall accrue and be capitalised at the end of each calendar quarter (that is, 31 March, 30 June, 30 September and 31 December of each year) and added to the outstanding principal amount of the CH Loan, and such capitalised interest will subsequently be treated for all purposes of the Loan Agreement as part of the principal amount of the CH Loan.

Maturity Date: The maturity date of the CH Loan shall be co-terminus with the OCP Loan. The maturity date of the CH Loan shall be the same as that of the OCP Loan pursuant to the terms of the def initive agreement governing the OCP Loan (as amended, restated and/or restructured from time to time) or such other date as may be agreed by CH Biovest so long as the af orementioned date is not earlier than the maturity date of the OCP Loan. In addition, the maturity date of the OCP Loan is also co -terminus with the maturity date of the OCP Additional Financing and Facility A. Currently, the maturity date of the CH Loan, taking reference from that of the OCP Loan, OCP Additional Financing and Facility A, is 5 October 2023.