RH PetroGas : PROPOSED CAPITALISATION OF SHAREHOLDER LOANS - APPROVAL IN-PRINCIPLE FROM THE SGX-ST

RH PETROGAS LIMITED

(Company Registration Number: 198701138Z)

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PROPOSED CAPITALISATION OF SHAREHOLDER'S LOANS AMOUNTING TO S$15,480,000 OWING BY THE COMPANY TO SURREYVILLE PTE LTD INTO 90,000,000 NEW ORDINARY SHARES OF THE COMPANY (THE "CAPITALISATION SHARES") AT AN ISSUE PRICE OF S$0.172 PER CAPITALISATION SHARE (THE "PROPOSED CAPITALISATION")

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Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings in the Company's announcement dated 6 October 2021 in relation to the Proposed Capitalisation (SGXNET Announcement No. SG211006OTHR0MBI) (the "Announcement").

Further to the Announcement, the Board of Directors of RH Petrogas Limited (the "Company") is pleased to announce that approval in-principle has been obtained from the Singapore Exchange Securities Trading Limited (the "SGX-ST") for the listing and quotation of up to 90,000,000 Capitalisation Shares, subject to the following:

1. Compliance with the SGX-ST's listing requirements; and
2. Independent Shareholders' approval being obtained for the Proposed Capitalisation.

The SGX-ST'sin-principle approval above is not to be taken as an indication of the merits of the Proposed Capitalisation, the Capitalisation Shares, the Company and/or its subsidiaries.

Further announcement will be made by the Company in relation to the Proposed Capitalisation as and when appropriate.

BY ORDER OF THE BOARD

Chang Cheng-Hsing Francis

Group CEO & Executive Director

10 December 2021