Placements::EXERCISE OF THE OPTION BY THE9 LIMITED

SINGAPORE MYANMAR INVESTCO LIMITED

(Incorporated in Singapore)

(Company Registration No. 200505764Z)

EXERCISE OF THE OPTION BY THE9 LIMITED

In this announcement, all capitalized terms not otherwise defined shall have the meanings defined in the Company's announcement dated 21 June 2021 ("The9 Subscription Announcement") on SGXNET.

The Board of Directors ("Board") of Singapore Myanmar Investco Limited ("Company" and together with its subsidiaries, "Group") refers to The9 Subscription Announcement and wishes to announce that it has on 16 August 2021 received the written notice of Exercise of the Option from The9 Limited ("The9") to subscribe for the maximum 33,250,000 Option Shares in consideration for the sum of S$997,500 at the Issue Price of S$0.030 for each Option Share, in accordance with the terms of the Subscription Agreement.

Upon completion of the allotment and issuance of the Option Shares to The9, The9 will own 44,333,333 Shares, comprising 8.6% of the enlarged issued share capital of the Company1.

In accordance with the terms of the Subscription Agreement, the Company will allot and issue 2,000,000 Introducer Shares to the Introducer, as finder's fees due to the Introducer for The9's Exercise of the Option.

An application has been made by the Company to the SGX-ST for, inter alia, the approval of the listing and quotation of the Option Shares and Introducer Shares on the Mainboard. A separate announcement will be made by the Company upon receipt of the listing and quotation notice from SGX-ST for the listing and quotation of the Option Shares and Introducer Shares, and upon the allotment and issuance of the Option Shares and the Introducer Shares.

BY ORDER OF THE BOARD

Mark Bedingham

President & CEO

16 August 2021

• Including (a) the 11,083,222 Subscription Shares already subscribed for by The9 pursuant to the Subscription Agreement and the 2,000,000 Introducer Shares to be allotted and issued to the Introducer in relation to the Subscription Shares, (b) the 3,300,000 new Shares subscribed for by Jonathan Paul and 5,000,000 new Shares subscribed for by Ong Toon Wah as announced by the Company on 23 June 2021, and (c) the 132,910,062 new Shares to be allotted and issued to Mark Francis Bedingham and 1,250,000 new Shares to be allotted and issued to Prime Partners Corporate Finance Pte. Ltd. as announced by the Company on 1 March 2021.