Ezion : Updates To Securitiesholders

EZION HOLDINGS LIMITED

(Incorporated in the Republic of Singapore) (Company Registration No. 199904364E)

UPDATES TO SECURITIESHOLDERS

• 1. INTRODUCTION

  The board of directors (the "Board") of Ezion Holdings Limited (the "Company") refers to the consent solicitation statement dated 23 October 2017, as amended and supplemented by the supplemental consent solicitation statement dated 28 October 2017 (together, the "Consent Solicitation Statement") as well as the Company's announcement dated 20 November 2017 in relation to the results of consent solicitation exercise relating to:

  •  Series 003 S$110,000,000 4.70 per cent. notes due 2019 (ISIN: SG56F6993056);

  •  Series 004 S$60,000,000 4.60 per cent. notes due 2018 (ISIN: SG57D3995685);

  •  Series 005 S$50,000,000 4.85 per cent. notes due 2019 (ISIN: SG6OF1000004);

  •  Series 006 S$55,000,000 5.10 per cent. notes due 2020 (ISIN: SG6PB3000008);

  •  Series 007 S$150,000,000 4.875 per cent. notes due 2021 (ISIN: SG6RD2000001); and

  •  Series 008 S$150,000,000 7.00 per cent. subordinated perpetual securities (ISIN: SG6UH9000009),

    (collectively, the "Securities", and holders thereof, the "Securityholders"),

  issued by the Company pursuant to its S$1,500,000,000 Multicurrency Debt Issuance Programme (the "Consent Solicitation Exercise").

  Capitalised or other terms used but not defined herein shall, unless the context otherwise requires, have the meanings as set out in the Consent Solicitation Statement.

• 2. UPDATES TO SECURITYHOLDERS

  With reference to the Consent Solicitation Statement, upon the satisfaction of all of the Refinancing Conditions, the Company shall redeem all (but not some only) of the relevant Series (other than Series 008 Securities) on any date falling on or prior to 30 days after the Shareholders' Extraordinary Resolution(s) as passed, at the Refinancing Redemption Amount.

The Refinancing Conditions refers to the occurrence of all of the following:

• (a) The passing of Extraordinary Resolution No. 1 of each Series of Securities;

• (b) All of the secured bank lenders who provided loans to the Company and its Subsidiaries have provided evidence to the Company of their binding and irrevocable commitment to refinance such loans in the manner described in the Consent Solicitation Statement; and

• (c) The passing of the Shareholders' Extraordinary Resolution(s).

The Company wishes to update the Securityholders that it is still undergoing discussions with the secured bank lenders and will be providing further updates in due course.

The shareholders' extraordinary general meeting ("EGM") will be convened once these discussions are finalised. The Company will give 14 days' notice of the EGM by way of an announcement on SGXNET.

The Company will provide updates via announcements on SGXNET whenever necessary.

3. CAUTION ADVISED

Shareholders, Securityholders and other stakeholders are advised to read this announcement and any further announcements by the Company carefully. Shareholders, Securityholders and other stakeholders should consult their stock brokers, bank managers, solicitors or other professional advisors if they have any doubt about the actions they should take.

By Order of the Board

Goon Fook Wye Paul Company Secretary 3 January 2018