General Announcement::Utilisation of Net Proceeds From The Issuance of Shares

SINGAPORE POST LIMITED

(Incorporated in the Republic of Singapore)

Company Registration No. 199201623M

UTILISATION OF NET PROCEEDS FROM THE ISSUANCE OF SHARES

Unless otherwise defined all capitalised terms shall bear the same meanings as in Singapore Post

Limited's (the "Company") announcement dated 8 July 2015 (the "Announcement").

The Company wishes to announce that of the use of net proceeds of approximately S$184.0 million (after deducting approximately S$3.2 million professional fees and expenses) from the issuance of 107,553,907 ordinary shares in the capital of the Company to Alibaba Investment Limited on

11 January 2017 at S$1.74 each is as follows:

Intended Use As Set	Amount Allocated	Amount Utilised
Out In The Announcement	(S$ 'million)	(S$ 'million)
The SingPost Group's business of eCommerce	S$138.0 million	S$102.5 million
logistics for purposes such as investments,
mergers and acquisitions and the upgrade of the
SingPost Group's operations and information
technology systems relating to the eCommerce
logistics business
The general working capital of the SingPost	S$46.0 million	S$46.0 million
Group, which was largely used to repay the
working capital funding for SingPost Centre Retail
Mall construction
Total	S$184.0 million	S$148.5 million

The above uses are in accordance with the intended use of proceeds as set out in the Announcement.

The Company will make further announcements when the remaining proceeds are materially disbursed

Issued by Singapore Post Limited on 30 November 2021.

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