Ezion : Extension Of Standstill Agreement

EZION HOLDINGS LIMITED

(Incorporated in the Republic of Singapore)

(Company Registration No. 199904364E)

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EXTENSION OF STANDSTILL AGREEMENT IN RELATION TO THE MATURITY OF S$30 MILLION REDEEMABLE EXCHANGEABLE PREFERENCE SHARES ("REPS") IN THE PREFERENCE SHARE CAPITAL OF TERAS INVESTMENTS PTE. LTD. ("TIPL")

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The board of directors (the "Directors") of Ezion Holdings Limited (the "Company") refers to the announcements dated 18 July 2013, 16 August 2013, 23 September 2013, 3 October 2013, 10 October 2013, 1 July 2016, 4 July 2016, 7 October 2016 and 11 October 2019 in relation to the issuance of REPS by TIPL ("Previous Announcements").

Unless otherwise defined, all capitalized terms and references used herein shall bear the meanings ascribed to them in the Previous Announcements.

The Directors wishes to announce that the Company, TIPL and the REPS holders are still in discussions on the relevant terms of the REPS, and have agreed to extend the standstill period for a further two (2) months from 10 January 2020 to 10 March 2020. Further announcement(s) will be made by the Company of any subsequent development as and when appropriate.

Although the Company's shares are currently under voluntary suspension, shareholders, securityholders and investors are advised to read this announcement and any past and future announcements by the Company carefully when dealing with the shares and securities of the Company. Shareholders, securityholder, and investors should consult their stockbrokers, bank managers, solicitors or other professional advisors if they have any doubt about the actions they should take or when dealing with their shares or securities of the Company.

By Order of the Board

Goon Fook Wye Paul

Company Secretary

10 January 2020