Waiver::APPLICATION FOR WAIVER TO COMPLY WITH RULE 1018(1)(a) OF THE LISTING MANUAL

SEROJA INVESTMENTS LIMITED

(Company Registration Number: 198300847M)

(Incorporated in the Republic of Singapore)

(the "Company")

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APPLICATION FOR WAIVER TO COMPLY WITH RULE 1018(1)(a) OF THE LISTING MANUAL ("LISTING MANUAL") OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ("SGX-ST") IN RESPECT OF THE REQUIREMENT TO PLACE 90% OF CASH AND SHORT- DATED SECURITIES IN AN ESCROW ACCOUNT (THE "WAIVER")

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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 and 5 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 to them in the Letter to Shareholders.

In view of the relatively small amount of remaining cash in the Company of approximately S$256,000 following completion of the Proposed Capital Reduction and Cash Distribution, the Company had on 13 September 2021 submitted an application to SGX-ST to seek a waiver from 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 escrow account such that the Company be allowed to withdraw the full sum of S$39,295,000 from the Escrow Account, use the sum of S$39,038,811 thereof for the Cash Distribution, and close the Escrow Account thereafter ("Application").

The SGX-ST has replied on 8 October 2021 that it has no objection to the Application, subject to the following:

1. the Company announcing the Waiver granted, the reasons for seeking the Waiver, the conditions as required under Mainboard Listing Rule 107 and if the Waiver conditions have been satisfied. If the Waiver conditions have not been met on the date of the announcement, the Company must make an update announcement when the conditions have been met; and
2. the Company completing the Cash Distribution.

As at the date of this announcement, the Cash Distribution has not been completed, and the Company will make an update announcement when this condition has been met. Save for the foregoing, the Company has met the other Waiver conditions.

By Order of the Board

Ng Soon Kai

Independent Director

8 October 2021