Employee Stock Option/ Share Scheme::ISSUE AND ALLOTMENT OF SHARES PURSUANT TO THE SHARE OPTION SCHEME 2011

SUTL ENTERPRISE LIMITED

Incorporated in the Republic of Singapore

(Company Registration No. 199307251M)

ISSUE AND ALLOTMENT OF SHARES PURSUANT TO THE SHARE OPTION SCHEME 2011

The Board of Directors of SUTL Enterprise Limited (the "Company") wishes to announce the issue and allotment of an aggregate of 537,500 new ordinary shares ("New Shares") in the capital of the Company on 1 September 2021 pursuant to the exercise of options granted under the Share Option Scheme 2011, which were issued at an exercise price of S$0.38 each.

The New Shares are expected to be listed and quoted on the Singapore Exchange Securities Trading Limited on 6 September 2021. The New Shares will rank pari passu in all respects with the existing issued shares in the capital of the Company ("Shares").

Following the allotment and issuance of the New Shares, the total number of issued Shares (excluding treasury shares) has increased from 85,479,802 Shares to 86,017,302 Shares.

BY ORDER OF THE BOARD

TAY TENG GUAN ARTHUR

Executive Director and Chief Executive Officer

1 September 2021