General Announcement::Update on COVID-19 Situation at Operations in Malaysia

ECOWISE HOLDINGS LIMITED (Company Registration No. 200209835C)

UPDATE ON COVID-19 SITUATION AT OPERATIONS IN MALAYSIA

The board of directors (the "Board" or the "Directors") of ecoWise Holdings Limited (the "Company", and together with its subsidiaries, the "Group") wishes to provide an update on the Group's operations in Malaysia amid the COVID-19 situation.

On 7 July 2021, the Malaysia Government announced that areas including Negeri Sembilan will be placed under the Enhanced Movement Control Order ("EMCO") from 9 July 2021 to 22 July 2021 to curb the spread of COVID-19 infection in the community.

On 23 July 2021, 69 employees (comprising mostly foreign workers) of Sunrich Integrated Sdn Bhd ("SRIT") (a wholly-owned subsidiary of the Company in Malaysia) underwent a routine COVID- 19 swab test in view of the surging COVID-19 cases locally. Third party security services and vendor ("Third Party Provider") located on site at SRIT were also required to undergo the COVID- 19 swab test.

On 25 July 2021, the Company received an update on the results of the aforesaid COVID-19 swab tests and was informed that 61 employees of SRIT tested positive for the COVID-19 coronavirus (excluding personnel from the Third Party Provider where swab test results were also positive for the COVID-19 coronavirus) ("SRIT Infection").

In view of the SRIT Infection, the Group's operations in Malaysia will not be able to resume until the employees are tested negative for the COVID-19 swab test subsequent to the quarantine period.

As at the date of this announcement, the Company is unable to quantify the financial impact of the SRIT Infection to the Group's operations.

The Company will make further announcements as and when there are any material updates in relation to the above.

The shares in the Company have been suspended from trading on the Singapore Exchange Securities Trading Limited since 18 June 2021. Shareholders and potential investors of the Company are advised to read this announcement and further announcements by the Company carefully. In the event of any doubt, Shareholders should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers.

By Order of the Board

ER KWONG WAH

Lead Independent Director

27 July 2021

This announcement has been prepared by ecoWise Holdings Limited ("Company") and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. ("Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing

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Manual Section B: Rules of Catalist.

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 Ms. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd., at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone [phone].

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