Waiver::APPLICATION FOR WAIVER TO COMPLY WITH RULE 1018(1)(A) - FULFILMENT OF ALL WAIVER CONDITIONS

SEROJA INVESTMENTS LIMITED

(Company Registration Number: 198300847M)

(Incorporated in the Republic of Singapore)

(the "Company")

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PAYMENT OF CASH DISTRIBUTION

APPLICATION FOR WAIVER TO COMPLY WITH RULE 1018(1)(a) OF THE LISTING MANUAL IN RESPECT OF THE PLACEMENT OF 90% OF CASH AND SHORT-DATED SECURITIES IN AN ESCROW ACCOUNT- FULFILMENT OF ALL WAIVER CONDITIONS

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Reference is made to the Company's announcements of 21 October 2020, 21 July 2021, 28 July 2021, 19 August 2021, 1 October 2021, 5 October 2021, and 8 October 2021 ('Earlier Announcements"), and the Company's letter to shareholders dated 28 July 2021 ("Letter to Shareholders"). Unless otherwise defined herein, all capitalised terms used in this announcement shall have the meaning ascribed in the Letter to Shareholders.

Further to the Earlier Announcements, the Board of Directors (the "Board") of Seroja Investments Limited (the "Company") is pleased to update shareholders that the Company has made payment of the Cash Distribution to its shareholders on 18 October 2021.

As at the date of this announcement, the Company has met all the Waiver conditions with regard to the application to SGX-ST made on 13 September 2021 to seek a waiver of the Company's compliance with the requirement under Rule 1018(1)(a) of the Listing Manual to place 90% of the Company's cash and short-dated securities in an account opened with and operated by an escrow agent which is part of any financial institution licensed and approved by the Monetary Authority of Singapore.

By Order of the Board

Ng Soon Kai

Chairman and Non-Executive Director

20 October 2021