REPL::General Announcement::SIA Engineering Company Launches Lean Academy to Upskill Workforce and Boost Competitiveness

SIA ENGINEERING COMPANY LAUNCHES LEAN ACADEMY TO UPSKILL WORKFORCE AND BOOST COMPETITIVENESS

• Marks the latest milestone in SIAEC's Transformation journey
• Aims to accelerate enterprise- and industry-wide adoption of Lean methodologies through tailored Lean training to meet the varying proficiency levels of the workforce
• Training will initially serve the SIAEC workforce, with the training extended to the aviation community in the longer-term

SINGAPORE, 7 SEPTEMBER 2021 - SIA Engineering Company Limited ("SIAEC" or the "Company") today announced the launch of the Lean Academy. The ceremony was officiated by guest of honour, Minister of State for Education, Ms Gan Siow Huang.

Lean is a key thrust of SIAEC's Transformation journey to create greater value for its customers, workforce, and the aviation community as the Company readies itself to emerge stronger from the COVID-19 landscape. The launch of the Lean Academy reflects the Company's dedication towards continual re-skilling, upskilling and development of workforce capabilities to enhance competitiveness.

The Lean Academy is part of SIAEC's Transformation Phase 2 which was launched in January 2021. Of the S$40 million in planned investments for Transformation Phase 2 over the next three years, SIAEC will invest more than S$10 million to accelerate and sustain a Lean transformation enterprise-wide.

Lean involves a value-driven process to improve work processes through the adoption of Lean methodologies. SIAEC's adoption of Lean methodologies to optimise certain operational processes has achieved marked results in the pilot phase at the Line Maintenance and Base Maintenance units, with such projects attaining productivity improvements of up to 30% in check turnaround times for the Boeing 787 and Airbus A350, as well as shop and task output.

Building on this success, the Lean Academy will further accelerate enterprise-wide adoption of Lean methodologies by delivering tailored Lean training by qualified instructors to meet the varying proficiency levels of the workforce, while establishing Lean Certification to recognise the progressive attainment of Lean proficiency. In addition, the Lean Academy will also implement a Lean Accreditation Framework to certify and enable the Company's business units to achieve and progress in their Lean journeys. With Lean training, every individual will be empowered to contribute to improving work processes in their respective areas and sustain the culture of continuous improvement.

As a start, the Lean Academy will serve the SIAEC workforce with SIAEC targeting to have 100% of its workforce trained in Lean by early 2023, with support from the Economic Development Board. The Company has mapped out a detailed Lean Training Matrix comprising a blended mix of interactive e-learning modules, instructor-led classes and practical training on the floor.

In the longer term, training at the Lean Academy will be extended to the wider aerospace maintenance, repair and overhaul (MRO) community. The Lean curriculum will also strengthen the SIAEC Training Academy's extensive suite of aerospace-related training programmes.

Mr Ng Chin Hwee, SIAEC's Chief Executive Officer, said, "The ongoing wave of transformation across the aviation sector is a reminder of the rapidly changing MRO landscape and the need to constantly improve ourselves to enhance our competitiveness. The progress in our Lean journey has been very encouraging thus far, and we are confident that the Lean Academy will serve as a launchpad for us to scale up our efforts in this space. It also marks the latest milestone in our ongoing transformation journey that had begun in 2017, and a testament to our unwavering commitment to retain our position as one of the world's leading MRO providers."

The Lean Academy is an extension of SIAEC's Training Academy, which provides aerospace- related training programmes for staff and the aerospace industry. The Training Academy also partners with government agencies, original equipment manufacturers, and institutes of higher learning such as Singapore Institute of Technology and Singapore Polytechnic to jointly develop and deliver degree and diploma programmes to groom and develop skilled talents for the industry.

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About SIA Engineering Company (Company Registration No. 198201025C)www.siaec.com.sg

SIA Engineering Company (SIAEC) is a major provider of aircraft maintenance, repair and overhaul (MRO) services in Asia-Pacific. SIAEC has a client base of more than 80 international carriers and aerospace equipment manufacturers. It provides line maintenance services at more than 25 airports in 7 countries, as well as airframe and component services on some of the most advanced and widely used commercial aircraft in the world. Apart from MRO services, SIAEC also offers a comprehensive and integrated suite of solutions under its fleet management services.

The 23 subsidiaries and joint ventures with original equipment manufacturers and strategic partners in Singapore, Hong Kong, Indonesia, Japan, Philippines, United States and Vietnam increase the depth and breadth of the Company's service offerings. SIAEC has approvals from 26 national aviation regulatory authorities to provide MRO services for aircraft registered in the United States, Europe, China and other countries.

For more information, please contact:

Ms Tan May Lyn

Manager Corporate

SIA Engineering Company Limited

Tel: [phone] E-mail: [e-mail]