General Announcement::Nanofilm JV with Temasek - Completion

NANOFILM TECHNOLOGIES INTERNATIONAL LIMITED

(Company Registration Number 199902564C) (Incorporated in Singapore on 13 May 1999)

JOINT VENTURE WITH VENEZIO INVESTMENTS PTE. LTD.

TO INVEST IN SYDROGEN ENERGY PTE. LTD.

The Board of Directors (the "Board") of Nanofilm Technologies International Limited (the "Company") refers to the Company's announcement on 19 July 2021 in relation to the subscription and joint venture agreement dated 19 July 2021 entered into by the Company with Venezio Investments Pte. Ltd. ("Temasek")(an indirect wholly-owned subsidiary of Temasek Holdings (Private) Limited and a substantial shareholder of the Company) and Sydrogen Energy Pte. Ltd. ("SEPL")(a wholly-owned subsidiary of the Company) (the "Previous Announcement").

Unless otherwise defined herein, capitalised terms in this announcement shall have the meaning ascribed to them in the Previous Announcement.

The Board is pleased to announce that pursuant to the JV Agreement, both Temasek and the Company have completed the first tranche of the Initial Investment with the injection of a total cash consideration of S$50 million and non-cash consideration of S$70 million. Accordingly, SEPL is now 65% held by the Company, and 35% held by Temasek.

The Company will make further announcements, in compliance with the requirements of the listing rules, as and when there are material developments in respect of the matters contemplated by the JV Agreement. Shareholders and potential investors are advised to exercise caution when dealing or trading in the shares of the Company. In the event of any doubt as to the action they should take, shareholders and potential investors should consult their financial, tax, legal or other professional advisers.

BY ORDER OF THE BOARD

NANOFILM TECHNOLOGIES INTERNATIONAL LIMITED

Lim Kian Onn

Chief Financial Officer

1 October 2021

Credit Suisse (Singapore) Limited and Oversea-Chinese Banking Corporation Limited are the Joint Issue Managers for the initial public offering of shares in, and listing of, the Company on the Mainboard of the SGX- ST on 30 October 2020 ("Offering"). Citigroup Global Markets Singapore Pte. Ltd., Credit Suisse (Singapore) Limited and Oversea-Chinese Banking Corporation Limited are the Joint Global Coordinators for the Offering. Citigroup Global Markets Singapore Pte. Ltd., CLSA Singapore Pte Ltd, Credit Suisse (Singapore) Limited and Oversea-Chinese Banking Corporation Limited are the Joint Bookrunners and Underwriters for the Offering.