PEC : Grant Of Share Awards Under The PEC Performance Share Plan

PEC LTD.

(Incorporated in the Republic of Singapore)

(Registration No. 198200079M)

GRANT OF SHARE AWARDS UNDER THE PEC PERFORMANCE SHARE PLAN

Pursuant to Rule 704(29) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Board of Directors of PEC Ltd. (the "Company") wishes to announce that it has granted the following share awards ("Awards") pursuant to the PEC Performance Share Plan ("Share Plan") approved by the shareholders on 25 October 2013. Further details of the Share Plan may be found in the circular to shareholders dated 9 October 2013:

1	Date of grant of Awards	1 December 2021
2	Total number of shares granted	Awards in respect of up to 5,405,405 shares
3	Market	price of the Company's	$0.555
	securities on the date of grant
4	Number of shares granted to eligible
	participants
	i)	Employees	Awards in respect of up to 5,024,381 shares
	ii)	Directors and controlling	Awards in respect of up to the following number of
		shareholder (and each of their	shares have been granted to the below-mentioned
		associates)	persons:
			Edna Ko Poh Thim	: 190,512 *
			Robert Dompeling	: 190,512 *
			*(approved by shareholders at the Extraordinary
			General Meeting held on 27 October 2021)
5	Vesting period	3 years
6	Release schedule	40% on the 1st anniversary of vesting date
			30% on the 2nd anniversary of vesting date
			30% on the 3rd anniversary of vesting date
			The release of the shares which are the subject of
			the Awards after the vesting period is subject to the
			achievement	of	certain	pre-determined
			performance conditions as determined by the
			committee of the Share Plan or otherwise in
			accordance with the rules of the Share Plan.

BY ORDER OF THE BOARD

Abdul Jabbar Bin Karam Din

Company Secretary

1 December 2021