General Announcement::ADDVALUE ON TRACK FOR ACCELERATED GROWTH IN ITS RES-RELATED BUSINESS ORDERS IN FY2022

ADDVALUE ON TRACK FOR ACCELERATED GROWTH IN ITS

RECONFIGURABLE EMBEDDED SYSTEM-RELATED BUSINESS WITH AT LEAST S$1.5 MILLION OF SALES ORDERS TO BE FULFILLED IN FY2022

Further to the announcement made by Addvalue Technologies Ltd (the "Company", and together with its subsidiaries, the "Group") on 24 January 2021, the Board of Directors of the company (the "Board") is pleased to announce that the Group's reconfigurable embedded system business ("RES")-related business (the "RES-RelatedBusiness"), riding on its in-houseFPGA-basedre-configurable hardware development and Software Defined Radio ("SDR") capability, has garnered more new sales orders to deliver more than S$1.5 million of sales to its government users and commercial enterprises for the financial year ending 31 March 2022 ("FY2022").

Traditional hardware-based radio devices limit cross-functionality and can only be modified through physical intervention. This results in higher production costs and minimal flexibility in supporting multiple waveform standards. By contrast, SDR technology provides an efficient and comparatively quick-to-market solution to this problem, allowing multimode, multi-band and/or multi-functional wireless devices that can be enhanced using software upgrades. Accordingly, SDR engineering technology is a much sought-after technology in sophisticated communications applications because of its implementation simplicity and flexibility in providing reconfigurable communications.

The Company develops SDR embedded modules based on its proprietary in-housed developed FPGA-basedre-configurable hardware platform. They can be tailored to meet customer's unique specifications and stringent operating environments in defense and aerospace industry. It is to be noted that a FPGA-based implementation is meant not only for SDR to be used in advanced digital communication system application (as is the case above with the new orders), but it can also be customized for complex data processing at the edge in a data analytic or AI applications.

Buttressed by its strong partnerships with global leaders, such as AVNET and Xilinx in high- end System-on-Module (SOM) technologies and suppliers of such components, the Group is also confident to convert its long list of prospects into more concrete orders to the tune of S$3.0 million in FY2022.

ADDVALUE ON TRACK FOR ACCELERATED GROWTH IN ITS RECONFIGURABLE EMBEDDED SYSTEM-RELATED BUSINESS WITH AT LEAST S$1.5 MILLION OF SALES ORDERS TO BE FULFILLED IN FY2022

Save for their respective interests held through the Company, none of the Directors or substantial shareholder of the Company has any interest, directly or indirectly, in the said new sales orders.

BY ORDER OF THE BOARD

Dr Colin Chan Kum Lok

Chairman and CEO

19 August 2021

2