Atlantic Navigation Singapore : 21 Apr 2022 | Waiver - Approval from SGX-ST for Extension of Time

(Company Registration No. 200411055E)

(Incorporated in Singapore)

APPROVAL FROM SINGAPORE EXCHANGE SECURITIES TRADING LIMITED FOR EXTENSION OF TIME

1. INTRODUCTION

The Board of Directors (the "Board" or the "Directors") of Atlantic Navigation Holdings (Singapore) Limited (the "Company", together with its subsidiaries, the "Group") refers to the following announcements:

• A. The announcement dated 7 April 2022 in relation to the applications for extension of time:

  • (i) through its Sponsor, to the Singapore Exchange Securities Trading Limited (the "SGX-ST") for a 2-month extension of time for the Company:

    • (a) to hold its Annual General Meeting ("AGM") for the financial year ended 31 December 2021 ("FY2021") by 29 June 2022 (the "AGM Extension");

    • (b) to issue its Annual Report for FY2021 ("AR2021") incorporating the Sustainability Report for FY2021 ("SR2021") by 14 June 2022 (the "AR & SR Extension"); and

    • (c) to release its unaudited financial statements for the first quarter ended 31 March 2022 ("1Q2022 Results") by 15 July 2022 (the "Results Extension").

  • (ii) to the Accounting and Corporate Regulatory Authority ("ACRA") for:

    • (a) a 60-day extension of time under Section 175(2) of the Companies Act 1967 of Singapore ("Companies Act") to hold the Company's AGM for FY2021 by 29 June 2022 (from the deadline of 30 April 2022); and

    • (b) a 60-day extension of time under Section 197 of the Companies Act to file its Annual Return in respect of FY2021 by 30 July 2022 (from the deadline of 31 May 2022),

  (collectively, the "Waivers").

• B. The announcement dated 13 April 2022 in relation to the approval from the ACRA for extension of time to hold the AGM of the Company and file its Annual Return for FY2021.

(collectively, the "Announcements")

The Board wishes to inform that SGX-ST has, on 20 April 2022, informed that it has no objection to the Waivers, subject to the following:

• (i) the Company announcing the Waivers granted, the reasons for seeking the Waivers, the conditions as required under Rule 106 of the Catalist Rules and if the Waivers' conditions have been satisfied. If the Waivers' conditions have not been met on the date of the announcement, the Company must make an update announcement when the conditions have all been met;

• (ii) confirmation from the Company that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company in relation to the waiver for Rule 705(2) of the Catalist Rules;

• (iii) the Board of Directors' confirmation that the Waivers 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); and

• (iv) the Company convening its FY2021 AGM by 29 June 2022.

(collectively, the "Waivers Conditions").

• 2. REASONS FOR SEEKING THE WAIVER

  Please refer to the announcement dated 7 April 2022 for the reasons for seeking the Waivers.

• 3. CONFIRMATION FROM THE COMPANY AND THE BOARD

  The Company hereby confirms that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company.

  The Board confirms that the Waivers do not contravene any laws and regulations governing the Company and its constitution.

  A copy of written confirmation of the above has been submitted separately to the SGX-ST.

• 4. INDICATIVE TIMELINE

  The Company wishes to provide its shareholders the indicative timeline to convene the AGM for FY2021, as follows:

  Event	Indicative Date
  Date of notice of the FY2021 AGM and release of AR2021 (including SR2021)	By 14 June 2022
  Date of FY2021 AGM	By 29 June 2022
  Release the 1Q2022 Results	By 15 July 2022

  The Company will make necessary announcements to notify the shareholders on the intended date and venue of the AGM in due course.

By Order of the Board

Wong Siew Cheong

Executive Director and Chief Executive Officer 21 April 2022

This announcement has been reviewed by the Company's sponsor ("Sponsor"), SAC Capital Private Limited. This announcement has not been examined or approved by the Singapore Exchange Securities

Trading Limited ("SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Ms Lee Khai Yinn (Tel: [phone]) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.