Waiver::GRANT OF EXTENSION OF TIME TO ISSUE AR & SUSTAINABILITY REPORT AND HOLDING OF AGM FOR 30 JUNE 2021

BOLDTEK HOLDINGS LIMITED

(Incorporated in the Republic of Singapore)

(Company Registration No. 201224643D)

GRANT OF EXTENSION OF TIME TO (A) ISSUE THE COMPANY'S ANNUAL REPORT AND STANDALONE SUSTAINABILITY REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2021, AND (B) THE HOLDING OF ITS ANNUAL GENERAL MEETING FOR THE FINANCIAL YEAR ENDED 30 JUNE 2021

The Board of Directors (the "Board" or the "Director") of Boldtek Holdings Limited (the "Company"), and together with its subsidiaries (the "Group") refers to its announcement dated 22 September 2021 relating to the Company's application, through the Company's sponsor, to the Singapore Exchange Regulation (the "SGX RegCo") for a 1-month extension of time to (i) issue its Annual Report for the financial year ended 30 June 2021 ("FY2021") on or before 15 November 2021; (ii) hold its FY2021 annual general meeting ("AGM") on or before 30 November 2021; and (iii) issue its standalone sustainability report for FY2021 on or before 31 December 2021 (collectively, the "Extension Application").

The Board is to pleased to announce that SGX RegCo had on 6 October 2021 advised that it had no objection to the Company's Extension Application for extension of time of one (1) month:

1. from 31 October 2021 to 30 November 2021 to hold its FY2021 AGM pursuant to Catalist Rule 707(1); and
2. from 30 November 2021 to 31 December 2021 to issue its sustainability report for FY2021 pursuant to Catalist Rule 711A,

(collectively, the "Waivers"), subject to the following:

1. the Company announcing the Waivers granted, the reasons for seeking the Waivers, the conditions as required under Catalist Rule 106 and if the Waivers' conditions have been satisfied. If the Waivers' conditions have not been met on the date of announcement, the Company must make an update announcement when the conditions have all been met; and
2. the Company convening the FY2021 AGM by 30 November 2021.

(collectively, the "Waiver Conditions"). The Waivers will not be effective if any of the Waiver Conditions have not been fulfilled.

The Company's reasons for seeking the Waivers were as follows:

1. The Company and its auditors are unable to complete the audit of the Company's subsidiaries within the timeline originally planned due to the ongoing COVID-19 restrictions in Singapore. In particular, during the Phase 2 (Heightened Alert) period in Singapore, only a limited number of the

Company's staff were allowed to return to the Company's office. Although the auditors were able to commence audit work at the Company's office from mid-June 2021, only a limited number of staff of the Company and the auditors are permitted on site at the Company's offices, in order to comply with the safe management measures required at the workplace. Similarly, the Malaysian independent valuers had experienced delays and disruption due to Movement Control Order which remains in force in Malaysia and therefore were unable to complete their valuation work as scheduled. Consequently, additional time is required for the Company's finance team to provide the outstanding items and address the audit queries for the purposes of the audit, and for the auditors to conclude the audit for the Group.

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As at the date of this announcement, due to the reasons mentioned above, the audit work is still ongoing, namely in relation to the auditor's assessment of the valuation reports prepared by the independent valuers for the Group's investment properties. As such, the auditors would require more time to complete the audit.

2. The Company has been issuing its sustainability report on a standalone basis in prior years and the Company intends to follow the same timeline and work arrangement in terms of preparing the sustainability report. Since the standalone sustainability report makes references to information to be set out in the annual report to give shareholders a comprehensive review of the Company's activities in the past financial year and therefore should be read together with the annual report, additional time required to issue the annual report will consequently lead to additional time required for the Company to prepare the standalone sustainability report.

In view of the above, the Company notes that it will be unable to finalise its audited financial statements for FY2021 in time for the annual report and notice of AGM for FY2021 to be issued at least 14 clear days before 29 October 2021. In addition to the finalisation of the audited financial statements for FY2021, the Company also requires additional time to complete the administrative and procedural matters in relation to the preparation and issuance of the annual report for FY2021 and standalone sustainability report, as well as the holding of the FY2021 AGM.

The Company anticipates the following timeline as a result of the Waivers granted:

Event	Date (on or before)
Finalisation of audit	8 November 2021
Internal and external review of the annual report by relevant	Up until 15 November 2021
parties including the Company, Sponsor and auditors
Proofreading, typesetting and (if applicable) printing of annual
report
Issuance of the FY2021 annual report and the notice of AGM	15 November 2021
AGM	30 November 2021
Issuance of standalone sustainability report	31 December 2021

The Company hereby confirms that it will not be in contravention of any laws and regulations governing the Company and the constitution of the Company arising from the Waivers.

Following this announcement, save for the Waiver Condition in respect of the Company convening the FY2021 AGM by 30 November 2021, the Company confirms that the Waiver Conditions have been satisfied. The Company will make an update announcement when the Waiver Condition in respect of the Company convening the FY2021 AGM by 30 November 2021 has been met.

The Company had on 22 September 2021 made an application to the Accounting and Corporation Regulatory Authority of Singapore for an extension of time to hold its FY2021 AGM and filing of Annual Return. The Company will announce the outcome of the application in due course.

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BY ORDER OF THE BOARD

Phua Lam Soon

Chief Executive Officer

7 October 2021

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the 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 Mr. Leong Weng Tuck, Registered Professional, RHT Capital Pte. Ltd. 6 Raffles Quay, #24-02, Singapore 048580, [e-mail]

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