Sembcorp Industries : Confirmation of Record Date for the Proposed Distribution and Distribution Ratio

This announcement is not an offer of securities for sale into the United States, Canada or Japan. The provisional allotments of SCM Rights Shares, the SCM Rights Shares and the Excess SCM Rights Shares as referred to in the Circular (as defined herein) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the Securities Act), except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

SEMBCORP INDUSTRIES LTD

(Incorporated in the Republic of Singapore)

Company Registration No. 199802418D

ANNOUNCEMENT

PROPOSED DISTRIBUTION IN SPECIE OF ORDINARY SHARES

IN THE CAPITAL OF SEMBCORP MARINE LTD

CONFIRMATION OF RECORD DATE FOR THE PROPOSED DISTRIBUTION

AND DISTRIBUTION RATIO

The Company refers to its announcements dated 8 June 2020, 22 July 2020, 11 August 2020 and 14 August 2020, and the circular to SCI Shareholders dated 22 July 2020 (the "Circular") in relation to the Proposed Distribution.

Unless otherwise defined, all capitalised terms used herein shall bear the same meanings ascribed to them in the Circular.

CONFIRMATION OF RECORD DATE FOR THE PROPOSED DISTRIBUTION

Following the close of the Proposed SCM Rights Issue on 2 September 2020 and announcement made by SCM on 7 September 2020 on the results of the Proposed SCM Rights Issue, the SCI Record Date of 5.30 p.m. on 10 September 2020 for the purposes of determining entitlements of Entitled SCI Shareholders to the SCM Shares under the Proposed Distribution is hereby confirmed.

DISTRIBUTION RATIO OF THE PROPOSED DISTRIBUTION

The Company also wishes to announce that, based on up to 8,774,270,764 SCM Shares to be distributed pursuant to the Proposed Distribution (comprising (i) 1,274,270,764 SCM Shares in which the Company has a direct interest as at the date of this Announcement (and as at the SCI Record Date); and (ii) 7,500,000,000 SCM Shares to be issued to SCI under the Proposed SCM Rights Issue pursuant to SCI's valid acceptance of the SCI Pro-Rata SCM Rights Shares and successful application for Excess SCM Rights Shares), and on the basis of 1,786,431,697 SCI Shares (excluding 1,116,035 treasury shares) in issue as at the date of this Announcement (and as at the SCI Record Date), the Proposed Distribution will be effected on the basis of 4.911 SCM Shares for each SCI Share held by Entitled SCI Shareholders at the SCI Record Date, fractional entitlements to be disregarded.

Accordingly, for illustrative purposes only, an Entitled SCI Shareholder who holds the following number of SCI Shares as at the SCI Record Date, would be entitled to receive the following number of SCM Shares:

Number of SCI Shares	Number of SCM Shares
10	49
100	491
1,000	4,911
10,000	49,110
100,000	491,100

Entitled SCI Shareholders will receive SCM Shares pursuant to the Proposed Distribution free of cash outlay. The SCM Shares will be distributed free of encumbrances and together with all rights attaching thereto on and from the Completion Date. Following completion of the Proposed Distribution, any resultant fractional SCM Shares will be aggregated and held by SCI for future disposal.

IMPORTANT EVENTS AND DATES

SCI Shareholders should note the following important events and dates in respect of the Proposed Distribution:

Last date of "cum-distribution" trading of the SCI Shares on the SGX-ST

• : 8 September 2020

  Date and time of commencement of "ex-distribution" trading of the SCI Shares on the SGX-ST

• : 9 September 2020 at 9.00 a.m.

  SCI Record Date for the Proposed Distribution

• : 10 September 2020 at 5.30 p.m.

  Expected date for crediting the SCM Shares to Entitled SCI Shareholders pursuant to the Proposed Distribution

• : On or about 11 September 2020 at 9.00 a.m.

BY ORDER OF THE BOARD

Kwong Sook May

Company Secretary Singapore, 7 September 2020

IMPORTANT NOTICE

This announcement is for information only and does not constitute or form part of any offer or invitation to sell or issue or subscribe for, or any solicitation of any offer to acquire, any SCM Rights Shares or to take up any entitlements to SCM Rights Shares in any jurisdiction in which such an offer or solicitation is unlawful. No person should acquire any SCM Rights Shares except on the basis of the information contained in an offer information statement to be lodged by SCM with the

Monetary Authority of Singapore. The information contained in this announcement should not be distributed, forwarded to or transmitted in or into any jurisdiction where to do so might constitute a violation of applicable securities laws or regulations. The issue, exercise or sale of SCM Rights Shares and the acquisition or purchase of the SCM Rights Shares are subject to specific legal orregulatory restrictions in certain jurisdictions. The Company assumes no responsibility in the event there is a violation by any person of such restrictions.

The distribution of this announcement into jurisdictions other than Singapore may be restricted by law. Persons into whose possession this announcement and such other documents come should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's

website is incorporated in, or forms part of, this announcement.