Waiver::Approval for Extension of Time to hold Annual General Meeting

UNITED FOOD HOLDINGS LIMITED

(Incorporated in Bermuda)

(Company Registration No.: 28925)

APPROVAL FOR THE EXTENSION OF TIME TO CONVENE ITS ANNUAL GENERAL MEETING FOR THE FINANCIAL YEAR ENDED 31 MARCH 2021

Unless otherwise specified, all capitalised terms shall have the same meaning ascribed to the announcement dated 21 June 2021 in relation to the application for extension of time of holding the annual general meeting for the financial year ended 31 March 2021 (the "Announcement").

The Board of Directors (the "Board") of United Food Holdings Limited (the "Company" or together with its subsidiaries, the "Group") is pleased to announce that based on the Company's application and various correspondences with the Singapore Exchange Securities Trading Limited ("SGX-ST"), SGX- ST has informed the Company on 6 July 2021 that it has no objections to granting the Company with the Waiver, subject to the following:-

1. The Company making an immediate announcement of the Waiver granted, disclosing the reasons for seeking for the Waiver, the conditions as required under Rule 107 of the Listing Manual of SGX-ST, and if the Waiver conditions have been satisfied. The Company will make an update announcement when the conditions have all met;
2. The Company making an announcement the specific areas and details of outstanding work to be undertaken by the auditors;
3. The Company making an announcement the dates and specific milestones in each outstanding module to complete the audit;
4. The Company to provide fortnightly updates and as and when there's material information of the
   Company in meeting the above milestones;
5. The Company promptly making an announcement any concerns raised by the auditors to the Audit Committee in the course of their audit and disclosing specific details of what the Audit Committee has done to review the concerns and to resolve the specific issues raised by the Auditors;
6. Submission of an undertaking by the Audit Committee and the Board to facilitate the completion of the audit for the Company to hold its FY2021 AGM no later than 30 September 2021;
7. The Board's confirmation that the Waiver will not be in contravention of any laws and regulations governing the Company and its constitution (or the equivalent in the Company's country of incorporation);
8. Issuance of the Company's annual report to shareholders and the SGX-ST at least 14 days before the date of its FY2021 AGM, pursuant to Rule 707(2) of the Listing Manual of SGX-ST; and
9. The Company convening the FY2021 AGM by 30 September 2021.

The reasons for seeking the Waivers were set out in the Company's Announcement.

The Company will submit the undertaking letter by the Audit Committee and written confirmation by the Board under items (f) and (g) set out above to the SGX-ST.

The Company is also required to announce whether it had applied to the relevant regulatory authority for the Waiver and the outcome of the application. The Company wishes to confirm that it is not required to make any filing with the relevant authorities in Bermuda for the Waiver.

The Company will make the necessary announcements when there are further developments.

BY ORDER OF THE BOARD

Song Yanan

Non-Executive Chairman

6 July 2021