REPL::Asset Acquisitions and Disposals::Disbursement of the Convertible Loan Amount

TOTM TECHNOLOGIES LIMITED

(Incorporated in the Republic of Singapore)

(Company Registration No. 201506891C)

INVESTMENT IN PT. CAKRAWALA DATA INTEGRASI

1. • DISBURSEMENT OF THE CONVERTIBLE LOAN AMOUNT
2. INTRODUCTION
   The board of directors (the "Board" or the "Directors") of TOTM Technologies Limited (the "Company", together with its subsidiaries, the "Group") refers to the announcement dated 13 December 2021 in relation to the investment in PT. Cakrawala Data Integrasi (the "Announcement").
   Capitalised terms used but not defined herein shall have the meanings as ascribed to them in the Announcement.
3. DISBURSEMENT OF THE CONVERTIBLE LOAN AMOUNT

1. The Board is pleased to announce that, on the date of this announcement, in accordance with the terms and conditions of the Convertible Loan Agreement, the conditions to the disbursement of the Convertible Loan have been met.
2. Accordingly, the Convertible Loan Amount of US$3,750,000 (equivalent to approximately S$5,158,000) has been disbursed by the Company by way of bank transfer to CDI and the Maturity Date shall be 2.5 years from the date of disbursement (or any extension thereof as may be determined by the Company at its sole discretion).

3. UPDATE ON THE USE OF PROCEEDS FROM SUBSCRIPTION EXERCISES

3.1. As at the date of this announcement and pursuant to the disbursement of the Convertible Loan Amount, the remaining net proceeds and the intended use of net proceeds from the Subscription and Placement Exercises1 are as follows:

S$'000	October 2020	June 2021
	Subscription	Placement
	Exercise	Exercise
Net proceeds allocated for working capital	1,131 - 1,508	2,543 - 5,085
Net proceeds utilised for working capital as at the	(1,508)	(4,977)
date of this announcement
Net proceeds remaining for working capital as at the	-	108
date of this announcement
Net proceeds allocated for new business	2,262 - 2,639	20,340 - 22,882
opportunities

1. "Subscription and Placement Exercises" comprise the (a) share subcription of 76,000,000 Shares that was announced on

1. September 2020 and completed on 16 October 2020 (the "October 2020 Subscription Exercise"); and (b) share subscription of 195,000,000 Shares that was announced on 11 May 2021 and completed on 25 June 2021 (the "June 2021 Placement Exercise"). Shareholders are to note that as at date of this announcement, the net proceeds from the subscription exercise announced on 15 November 2020 and completed on 6 January 2021 (the "November 2020 Subscription Exercise"), the subscription exercise announced on 13 December 2020 and completed on 23 December 2020 (the "December 2020 Subscription Exercise"), and the subscription exercise announced on 26 January 2021 and completed on 6 April 2021 (the "January 2021 Subscription Exercise") have been fully utilised.

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S$'000	October 2020	June 2021
	Subscription	Placement
	Exercise	Exercise
Net proceeds utilised for new business opportunities	(1,752) (1)	(17,156) (3)
as at the date of this announcement
Net proceeds remaining for new business	510 (2)	3,184 (4)
opportunities as at the date of this announcement

Notes:

1. The introducer fees in relation to the IBPL Acquisition totalling S$2,100,000 was funded partially from the net proceeds of the October 2020 Subscription Exercise and the November 2020 Subscription Exercise. Of the S$2,100,000, S$825,000 has been funded from the October 2020 Subscription Exercise while S$1,275,000 has been funded from the November 2020 Subscription Exercise.
2. The investment amount of S$510,000 in respect of the joint venture with International Biometrics Pte. Ltd. will be funded from the net proceeds from the October 2020 Subscription Exercise. Please refer to the 2 December 2020 announcement by the Company for defined terms and more details.
3. The equity investment in TECH5 (equivalent to approximately S$10,832,000 based on the spot rate of US$1.000: S$1.354 as at the date of payment), payment of relevant professional fees and introducer fees of approximately S$0.3 million and S$847,000 respectively in relation thereto, and the Convertible Loan Amount of US$3,750,000 (equivalent of S$5,158,000 based on the spot rate of US$1.000 : S$1.3755), were funded from the June 2021 Placement Exercise.
4. It is intended for the net proceeds from the June 2021 Placement Exercise to be used to fund other future investments and the relevant professional fees.

.

3.2. A breakdown of the net proceeds from the October 2020 Subscription Exercise, November 2020 Subscription Exercise, December 2020 Subscription Exercise, January 2021 Subscription Exercise and June 2021 Placement Exercise that were utilised for working capital are:

Summary of expenses:	Working capital (S$'000)
Listing Fees	77
Staff Cost and Director Fees	2,114
Finance Cost or Bank Charges	11
Professional Fees	4,193
Administrative Expenses	1,490
Rental Deposit	143
Purchases from supplier	2,753
Total	10,781

4. CAUTIONARY STATEMENT

Shareholders, securityholders and potential investors are advised to read this announcement and any past and future announcements by the Company carefully when dealing with the Shares and securities of the Company. Shareholders, securityholders, and potential investors should consult their stockbrokers, bank managers, solicitors or other professional advisors if they have any doubt about the actions they should take or when dealing with their Shares or securities of the Company.

BY ORDER OF THE BOARD

Mr. Pierre Prunier

Chief Executive Officer and Executive Director

15 December 2021

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the

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"Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Ms. Charmian Lim (telephone no.: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

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