Yongnam : Maturity Of Redeemable Convertible Bonds

YONGNAM HOLDINGS LIMITED

(the "Company")

(Company Registration No. 199407612N)

(Incorporated in the Republic of Singapore on 19 October 1994)

PROPOSED PLACEMENT AND ISSUANCE OF UP TO S$15,000,000 IN AGGREGATE PRINCIPAL AMOUNT OF REDEEMABLE CONVERTIBLE BONDS

- MATURITY DATE OF BONDS

Unless otherwise defined all capitalised terms used in this announcement shall bear the same meanings as ascribed to them in the announcements dated 22 May 2019, 23 May 2019, 29 May 2019 and 4 June 2019 (the "Previous Announcements).

The Board of Directors (the "Board") of Yongnam Holdings Limited (the "Company", and together with its subsidiaries, the "Group") refers to the Previous Announcements in relation to the proposed placement and issue of up to S$15,000,000 in aggregate principal amount of Bonds and would like to inform Shareholders that the Maturity Date of the Bonds falls on 4 June 2021 (the "Maturity Date").

Pursuant to the Bond Subscription Agreement, the Company is required to redeem all of the Bonds which are not redeemed, converted, purchased or cancelled by the Company at 100% of their principal amount on the Maturity Date. The Bondholder may exercise its rights to convert any Bonds into Conversion Shares up to, and including, the close of business on the date immediately preceding the Maturity Date.

The Company will make further announcements on material developments to update shareholders as and when it arises.

Shareholders and potential investors are advised to read this announcement and any further announcements by the Company carefully and exercise caution when dealing or trading in the shares of the Company. When in doubt as to the action they should take, Shareholders and potential investors should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers.

By Order of the Board

SEOW SOON YONG

Chief Executive Officer

Date: 3 May 2021