General Announcement::UPDATE ON THE UTILISATION OF PROCEEDS FROM PLACEMENT AND FROM RIGHTS ISSUE

VIBROPOWER CORPORATION LIMITED

(Company Registration Number: 200004436E)

(Incorporated in the Republic of Singapore)

UPDATE ON THE UTILISATION OF PROCEEDS FROM PLACEMENT AND FROM RIGHTS ISSUE

1. Update on Utilisation of Proceeds from Placement

The board of directors (the "Board" or "Directors") of VibroPower Corporation Limited (the "Company", and together with its subsidiaries, the "Group") refer to (i) the Company's announcements dated 8 September 2020, 5 October 2020 and 6 October 2020 relating to the placement of 9,500,000 new ordinary shares in the capital of the Company (the "Placement") and (ii) the Company's announcement dated 23 December 2020 relating to the utilization of proceeds from placement.

The Board wishes to inform the shareholders of the Company (the "Shareholders") that the Company has utilised the net proceeds of S$1,199,000 (the "Placement Net Proceeds") from the Placement.

The Company sets out below a summary of the utilisation of the Placement Net Proceeds as at the date of this announcement:

Intended use of	Amount	Amount	Amount	Balance
the Placement Net	allocated	utilised as at	utilised from	(S$'000)
Proceeds	(S$'000)	23 December	23 December
		2020	2020 up to the
		(S$'000)	date of this
			announcement
			(S$'000)
Professional fees	150	67	83	-
Operating	300	254	46	-
expenses
Purchase of parts	749	-	749	-
and components
for projects
Total	1,199	321	878	-

The above utilisation of the Placement Net Proceeds is consistent with the intended use of the Placement Net Proceeds disclosed in the Company's announcement dated 6 October 2020.

2. Update on Utilisation of Proceeds from Rights Issue

The Board further refers to (i) the Company's announcements dated 1 October 2019, 25 October 2019, 20 November 2019, 12 December 2019, 20 December 2019 and 15 January 2020 (the "Right Issue Announcement") in relation to the Rights cum Warrants Issue and (ii) the Company's announcements dated 18 February 2020 and 28 September 2020 relating to the utilisation of proceeds from exercise of rights issue. Please refer to the Offer Information Statement issued by the Company on 20 December 2019 (the "OIS") for details on the rights issue.

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The Company sets out below a summary of the utilisation of the Net Proceeds as at the date of this announcement:

Intended use of	Amount	Amount	Amount	Balance
the Placement Net	allocated	utilised as at	utilised from	(S$'000)
Proceeds	(S$'000)	28 September	28 September
		2020	2020 up to the
		(S$'000)	date of this
			announcement
			(S$'000)
General working	340	340	-	-
capital purpose
Expansion of the	1,200	640	560	-
Company's existing
business
Total	1,540	980	560	-

BY ORDER OF THE BOARD

Benedict Chen Onn Meng

Chief Executive Officer

13 October 2021

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