Issuer's Early Redemption (Call Option)::Mandatory

REDEMPTION OF OUTSTANDING 7.75 PER CENT. NOTES DUE 2022 (ISIN: SGXF36892523) COMPRISED IN SERIES 003 (THE "NOTES") ISSUED PURSUANT TO THE S$900,000,000

MULTICURRENCY MEDIUM TERM NOTE PROGRAMME

The board of directors (the "Board") of Tuan Sing Holdings Limited (the "Issuer") wishes to announce that it has today issued a notice to the holders of the Notes (the "Noteholders") regarding the exercise of the Issuer's option to redeem all of the Notes on 29 November 2021 (the "Redemption Date") pursuant to Condition 5(d) of the Terms and Conditions of the Notes.

Capitalised terms not defined in this announcement shall have the same meaning as set out in the terms and conditions of the Notes.

The Notes will be redeemed at 102.00 per cent. of the denomination amount of the Notes, together with interest accrued to (but excluding) the Redemption Date.

The Issuer shall make or cause to be made payment of the redemption moneys in respect of the Notes in Singapore dollars to The Central Depository (Pte) Limited (the "Depository") for the account of the Noteholders. Such redemption moneys will be paid to the persons who, as at the date falling five business days before the Redemption Date, are shown in the records of the Depository as holders of a particular amount of the Notes.

As at the date hereof, the outstanding principal amount of Notes is S$25,000,000. Upon redemption of the outstanding Notes, the Notes will be cancelled and there will be no further outstanding Notes in issue.

BY ORDER OF THE BOARD

William Nursalim alias William Liem

Executive Director/Chief Executive Officer

29 October 2021