1st Quarter 2023 Business Update

11 May 2023

This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for shares ("Shares") in VICOM Ltd (the "Company"). The value of shares and the income derived from them may fall as well as rise. Shares are not obligations of, deposits in, or guaranteed by, the Company or any of its affiliates. An investment in Shares is subject to investment risks, including the possible loss of the principal amount invested. The past performance of the Company is not necessarily indicative of its future performance.

This presentation may also contain forward looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward looking statements as a result of a number of risks, uncertainties and assumptions. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events.

No part of this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its subsidiaries, affiliates, advisors or representatives and agents shall have any responsibility or liability whatsoever (in negligence or otherwise) relating to the accuracy or completeness of the information and opinions contained in this document or for any loss howsoever arising from any reliance or use of this document or its contents or otherwise arising in connection with the document. The information contained in this document is not to be taken as any recommendation made by the Company or any other person to enter into any agreement with regard to any investment.

The inclusion of financial information in this document should not be regarded as a representation or warranty by the Company, or any of its affiliates, advisors or representatives or any other person as to the accuracy or completeness of such information's portrayal of the financial condition or results of operations of the Company and should not be relied upon when making an investment decision. The information contained in this document is provided as at the date of this document and is subject to change without notice.

If you have any doubt about the foregoing or any content of this document, you should obtain independent professional advice.

Page 2

Contents

  • Operational Update for 1Q 2023
  • Financial Update for 1Q 2023

Page 3

OPERATIONAL UPDATE FOR 1ST QUARTER 2023

Page 4

Operational Update for 1st Quarter 2023

Business Climate

  • Although inflationary pressure has begun to ease in the quarter, it remains elevated. Business cost still remain high, particularly material, utility and staff costs.

Vehicle Inspection Business

  • The vehicles inspection business has largely been stable, except that there was lower demand for new car registrations / emission testing services as a result of low Certificate of Entitlement quota.
  • The VICOM Emission Test Laboratory (VETL), which underwent an upgrade to conduct the World Harmonised Light Vehicles Test Procedure (WLTP), has reopened at the end of the quarter after closure in January 2023.

Non-Vehicle Testing Business

  • The non-vehicle testing business continues to improve in the quarter, along with the recovery of the Aerospace, Construction, Marine & Offshore, Oil and Gas industries.
  • However there are signs of slowdown in the Singapore economy due to the wider macro

environment.

Page 5

Attachments

Disclaimer

VICOM Ltd. published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2023 10:08:07 UTC.