General Announcement::OXPAY APPOINTED EXCLUSIVE PAYMENTS PROVIDER FOR THAILAND'S HIVE VENTURES

OXPAY FINANCIAL LIMITED

(Company Registration Number: 200407031R)

For Immediate Release

OxPay Appointed Exclusive Payments Provider for

Thailand's HIVE Ventures

• Partnership with HIVE, which has more than 4,000 restaurants and 200 suppliers on its platform, started this month
• Partnership to boost the Group's operations in Thailand, expected to contribute positively to Group's overall performance in next 12 months

SINGAPORE, October 27, 2021 - OxPay Financial Limited (SGX: TVV) ("OxPay" or the "Company", and together with its subsidiaries, the "Group") is pleased to announce that it has been appointed as the exclusive payments provider for HIVE Ventures Ltd, Thailand's first integrated food ecosystem, with effect from October 2021.

HIVE Ventures Ltd was founded in 2018 with the mission of building a strong food community. The platform, which is home to more than 4,000 restaurants and 200 suppliers, provides three services: (a) HIVE Marketplace, an online B2B wholesale and retail market for food businesses; (b) HIVE RI, which caters to the end-to-end business operations of restaurants, such as point-of-sale, inventory management, accounting and payments, as well as customer relationship management; and (c) Spoonwalk,which handles restaurant delivery orders and restaurant reviews by influencers and consumers.

Mr Henry Tan, Managing Director of OxPay, said: "We're very pleased to be appointed as the exclusive payments provider for HIVE Ventures, Thailand's first integrated food ecosystem. This new partnership, which represents another growing market opportunity for OxPay, is expected to enlarge our footprint in Thailand. Barring any unforeseen circumstances, it is also expected to contribute positively to the Group's overall performance in the next 12 months."

OxPay is focused on servicing merchants in the retail, transportation and food and beverage industries. Its wholly-owned subsidiary, MC Pay Pte. Ltd., which was established in 2005,

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OXPAY FINANCIAL LIMITED

(Company Registration Number: 200407031R)

holds a major payment institution licence in Singapore, and is regulated by the Monetary Authority of Singapore under the Payment Services Act 2019.

OxPay's Merchant Payment Services segment provides payment processing services through its unified platform and smart software, which can be installed onto or integrated with any smart devices (including mobile phones, tablets, and smart point-of-sale terminals) for merchants with physical stores or integrated with online merchants' websites and applications. OxPay's second business segment, Digital Commerce Enabling Solutions, provides ancillary services such as the sale and lease of smart point-of-sale terminals, as well as both proprietary and licensed software-as-a-service which can be white-labelled. This segment also develops bespoke software solutions for its merchants.

Currently, OxPay has presence in four countries - Singapore, Malaysia, Indonesia and Thailand - with ambitions to become a regional player.

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About OxPay

OxPay (formerly known as MC Payment Limited) is principally engaged in the provision of merchant payment services and digital commerce enabling services, offering online-to-offline (O2O) solutions through a fully integrated platform with a focus on servicing merchants in the retail, transportation and food and beverage industries. Its end-to-end payment platform offers comprehensive solutions for merchants, ranging from hardware and software to data analytics and other technology-drivenvalue-added services tailored to specific industries. Its solutions cater to merchants with both on-line and off-line presences, provided through a unified platform digitalising engagements across all channels. OxPay currently has a presence in four geographical markets - Singapore, Malaysia, Indonesia and Thailand - with ambitions to become a regional player.

For more information, please visit us at http://mcpayment.com/.

Investor Relations and Media Contact:

Ms Loke Chunying

Mobile [phone]

Email [e-mail]

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OXPAY FINANCIAL LIMITED

(Company Registration Number: 200407031R)

This press release contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements. The Company makes no representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements or representations contained in this press release with respect to the Company

This press release has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX- ST") Listing Manual Section B: Rules of Catalist.

This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.

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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