General Announcement::Memorandum of Understanding with White Group Pte. Ltd.

MATEX INTERNATIONAL LIMITED

(Company Registration No. 198904222M)

(Incorporated in Singapore)

(the "Company")

MEMORANDUM OF UNDERSTANDING WITH WHITE GROUP PTE. LTD.

1. INTRODUCTION

1.1 The Board of Directors (the "Board" or the "Directors") of Matex International Limited (the "Company" and together with its subsidiaries, the "Group"), wish to announce that the Company has entered into a non-binding Memorandum of Understanding on 4 August 2021 (the "MOU") with White Group Pte Ltd ("White Group").

2. THE MOU

1. Pursuant to the MOU, the Company and White Group, on behalf of Dongguan Junying Silicone Manufacturing Limited (collectively, the "Parties") plan to explore potential new business opportunities and collaborate by tapping on their respective knowledge, expertise and technologies ("Proposed Collaboration"), to enhance each Party's own business growth and objectives.
2. Dongguan Junying Silicone Manufacturing Limited is a company incorporated and based in the People's Republic of China ("PRC Company") and carries on the business of manufacturing and assembling of humanoid prosthetics products and owns, amongst others, the technology to manufacture and assemble prosthetics and humanoid products. White Group has an agreement with the PRC Company's shareholder ("PRC Company Shareholder") which entitles it to certain economic benefits relating to the PRC Company, and White Group is also authorised to negotiate on behalf of the PRC Company and the PRC Company Shareholder.
3. The Company's principal activities include manufacturing, formulation and sale of specialty chemicals like clean colour science and anti-microbial technologies focusing on dyestuffs and auxiliaries for the textile, leather, paper and polymer industries.
4. Through the Proposed Collaboration, the Company wishes to improve the Company's prospects and provide new revenue streams, and the PRC Company Shareholder and White Group are keen to explore new business opportunities that can add value and growth to the PRC Company's fast-growing humanoid prosthetic products business.
5. The MOU may or may not lead to the entry into any definitive agreement(s) and the Proposed Collaboration may or may not materialise. At the present stage, the structure of the Proposed Collaboration and definitive terms and conditions of any definitive agreement(s) to be entered into between the Company and White Group are subject to negotiations and are yet to be agreed and finalised, and are also subject to satisfactory legal, financial and other due diligence.
6. The MOU being non-bindingis not expected to have any material impact on the net tangible assets per share or earnings per share of the Group for the current financial year ending 31 December 2021. However, if the Proposed Collaboration as contemplated under the MOU materialises, depending on the terms to be agreed, the Proposed Collaboration may have a material impact on the net tangible assets per share and/or earnings per share of the Group for the current financial year ending 31 December 2021.

3. OTHER INFORMATION AND DOCUMENTS FOR INSPECTION

1. None of the Directors or substantial shareholders of the Company have any interest, direct or indirect, in the MOU, save for their respective shareholdings in the Company.
2. A copy of the MOU will be made available for inspection during normal business hours at the registered office of the Company for a period of three (3) months from the date of this announcement.
3. Shareholders and potential investors are advised to read this announcement and any further announcements by the Company carefully. Shareholders and potential investors should note that the MOU is non-binding and there is no certainty or assurance that the Proposed Collaboration as contemplated in the MOU will materialise. As such, Shareholders and potential investors are advised to 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 advisors.

BY ORDER OF THE BOARD

Dr Tan Pang Kee

Chief Executive Officer / Managing Director

4 August 2021

This document has been reviewed by the Company's sponsor, Provenance Capital Pte. Ltd. ("Sponsor"), for compliance with the SGX-ST Listing Manual Section B: Rules of Catalist. It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Wong Bee Eng, Chief Executive Officer, at 96 Robinson Road, #13-01, SIF Building, Singapore 068899. Telephone: [phone] Email: [e-mail].