Waiver::SGX-ST APPROVAL OF EXTENSION OF TIME TO HOLD AGM , ISSUE SR AND RELEASE 1Q2021 RESULT

SUNMOON FOOD COMPANY LIMITED

(Company Registration No. 198304656K)

(Incorporated in Singapore)

SGX-ST APPROVAL OF EXTENSION OF TIME APPLICATIONS IN RELATION TO:

1. 2-MONTHEXTENSION OF TIME FROM 31 JULY 2021 TO 30 SEPTEMBER 2021 TO HOLD ITS ANNUAL GENERAL MEETING ("AGM") FOR THE FINANCIAL YEAR ENDED 31 MARCH 2021 ("FY2021)" PURSUANT TO RULE 707(1)
2. 2-MONTHEXTENSION OF TIME FROM 31 AUGUST 2021 TO 29 OCTOBER 2021 TO ISSUE ITS SUSTAINABILITY REPORT ("SR") FOR FY2021 PURSUANT TO RULE 711A
3. 2-MONTHEXTENSION OF TIME FROM 14 AUGUST 2021 TO 14 OCTOBER 2021 TO ANNOUNCE ITS FIRST QUARTER FINANCIAL RESULTS ENDED 30 JUNE 2021
   ("1Q2021") PURSUANT TO RULE 705(2) ("1Q2021 FS WAIVER")

Reference is made to the Company's announcement on the SGX-Net dated 14 July 2021 in relation to, inter alia, the Company's extension of time application to the SGX-ST for the Company to hold its annual general meeting for FY2021, to issue its sustainability report and to announce its 1Q2021 financial statements ("14 July 2021 Announcement") and the Company's announcement on the SGX-Net dated 10 August 2021 in relation to, inter alia, the approval of the extension of time application to ACRA to hold its annual general meeting for FY2021.

Unless otherwise defined, all terms used herein shall bear the same meanings as in the 14 July 2021 Announcement.

1. SGX-STCONDITIONAL GRANT OF EXTENSION OF TIME
   The Board of Directors of the Company wishes to announce that in relation to the Company's AGM Extension Application, 1Q2021 Extension Application and SR Extension Application, the SGX-ST has, on 30 September 2021, granted the following conditional extensions of time to the Company:
2. 1. 2-monthextension of time from 31 July 2021 to 30 September 2021 to hold its AGM for FY2021 pursuant to Rule 707(1);
   2. 2-monthextension of time from 31 August 2021 to 29 October 2021 to issue its SR for FY2021 pursuant to Rule 711A;
   3. 2-monthextension of time from 14 August 2021 to 14 October 2021 to announce 1Q2021 financial results,
      (collectively, the "Waiver").
3. The Waiver is subjected to the conditions set out below:
4. 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 all been met;

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1. 1. the Company convening the annual general meeting by 30 September 2021; and
   2. submission of a written confirmation from the Company that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company (for the 1Q2021 FS Waiver).
2. It is further provided that:
3. 1. the Company is required to make an immediate disclosure via SGX-Net if it is/ will be in contravention of any laws and regulations governing the Company and the constitution of the Company (or the equivalent in the Company's country of incorporation) arising from the Waiver;
   2. the Company is also required to announce whether and when it had applied to the Accounting and Corporate Regulatory Authority for the Waiver and the outcome of its application; and
   3. the Exchange reserves the right to amend and/or vary the above decision and such decision is subject to changes in the Exchange's policies.
4. SATISFACTION OF CONDITIONS
   In relation to the condition as set out in paragraph 2(a) of this announcement, the reasons for seeking the Waiver are as follows:
   In relation to the AGM Extension Application
5. 1. the Company was in the midst of finalising, together with its auditors, its audited financial statements for FY2021. Additionally, the Company was expecting an outstanding payment(1) from Sheng Shi Mingyi (Shanghai) Management Co. Ltd ("SSMY") and the
      Company believed that it would be more appropriate and accurate for its auditors to finalise its audit opinion(2) upon receipt of payment from SSMY;
      Note (1): Shareholders should refer to the Company's announcement dated 25 July 2021 on the receipt of the repayment amount of RMB 1,500,000 on 23 July 2021.
      Note (2): Shareholders should refer to the Company's annual report for FY2021, published on the SGX-Net on 14 September 2021.

In relation to the 1Q2021 Extension Application

1. in view of the reason set out in paragraph 4(a) above, the Company is unable to finalise and release its 1Q2021 financial statements as the 1Q2021 will be based on the opening balances brought forward from audited financial statements for FY2021;

In relation to the SR Extension Application

1. the Company had prioritised its resources to finalise its FY2021 accounts and requires additional time to work, identify and to conduct a fundamental review of the Company's business and its business strategy against the operating environment to address the disclosures required under its sustainability report for FY2021;
2. for the reasons stated above, it will be in the interests of the Shareholders and the Company to apply and for SGX-ST to grant the SGX Waiver and Extension Applications.

5. In relation to the condition as set out in paragraph 2(b) of this announcement, the annual general meeting of the Company for FY2021 was held on 29 September 2021.

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1. In relation to the condition as set out in paragraph 2(c) of this announcement, the Company has submitted a written confirmation to the SGX RegCo that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company (for the 1Q2021 FS Waiver).
   Accordingly, the Company wishes to inform Shareholders that the conditions set out in paragraph 2 above have all been met.
2. ACRA GRANT OF EXTENSIONS OF TIME
   In relation to the Company's ACRA Waiver and Extension Applications, Shareholders can refer to the Company's announcement dated 10 August 2021 which provides that the Accounting and Corporate Regulatory Authority had, on 5 August 2021, granted the Company an extension of time under Section 175 of the Companies Act, Chapter 50 to hold the Company's AGM by 29 September 2021 and to file the financial statements which are made up to 31 March 2021 by 30 October 2021.

Shareholders and potential investors are advised to exercise caution in trading their shares. The Company will make further announcements as appropriate or when there are further developments. Shareholders and noteholders are advised to read this announcement and any further announcements by the Company carefully. Shareholders should consult their stockbrokers, bank managers, solicitors or other professional advisors if they have any doubt about the actions they should take.

BY ORDER OF THE BOARD

James Prideaux

Chairman and Lead Independent Director

1 October 2021

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