Waiver :: Announcement On Extension Of Time

EZRA HOLDINGS LIMITED

(Incorporated in the Republic of Singapore) (Company Registration Number: 199901411N)

1. APPLICATION FOR EXTENSION OF TIME TO ANNOUNCE EZRA HOLDINGS LIMITED'S UNAUDITED FINANCIAL STATEMENT
2. APPLICTION FOR EXTENSION OF TIME TO HOLD THE ANNUAL GENERAL MEETING OF EZRA HOLDINGS LIMITED

1. APPLICATION FOR EXTENSION OF TIME TO ANNOUNCE EZRA HOLDINGS LIMITED'S UNAUDITED FINANCIAL STATEMENT

   The Board of Directors (the "Board") of Ezra Holdings Limited (the "Company" together with its subsidiaries, the "Group") refers to the announcements made by the Company on 11 January 2017 and 14 February 2017 in relation to the application (the "Application") made by the Company to the Singapore Exchange Securities Trading Limited (the "SGX-ST") seeking from SGX-ST extension to announce the Group's unaudited financial statement for the first financial quarter ended 30 November 2016 (the "Financial Statement for 1Q2017"). Pursuant to the Application, the Company was supposed to release the Financial Statement for 1Q2017 on or before 14 March 2017.

   Since the Application, the Company, together with its wholly-owned subsidiaries, EMAS IT Solutions Pte Ltd and Ezra Marine Services Pte. Ltd, had filed voluntary petitions for reorganisation under Chapter 11 of the United States Bankruptcy Code ("Ezra Chapter 11 Filing"). The outcome of the restructuring and Ezra Chapter 11 Filing may materially impact businesses and operations of the Group, and consequently, its Financial Statement for 1Q2017 as well as the Group's unaudited financial statement for the second financial quarter ended 28 February 2017 (the "Financial Statement for 2Q2017") due to be released on 14 April 2017.

   For the reasons above, the Financial Statements for 1Q2017 was not released and the Company will also not be releasing the Financial Statement for 2Q2017.

   The Board wishes to update that the Company will make a further application to the SGX-ST to seek a 90-day extension from 14 March 2017 to announce the Financial Statement for 1Q2017 (the "90-day 1Q2017 Extension") and an application to the SGX-ST to seek a 90-day extension from 14 April 2017 to announce the Financial Statement for 2Q2017 (the "90-day 2Q2017 Extension").

   The Company will update shareholders on the SGX-ST's decision on the Company's application for the 90-day 1Q2017 Extension and the 90-day 2Q2017 Extension.

2. APPLICTION FOR EXTENSION OF TIME TO HOLD THE ANNUAL GENERAL MEETING OF EZRA HOLDINGS LIMITED

The Board wishes to also announce that the Company will write in to the Accounting and Corporate Regulatory Authority ("ACRA") for a further 90-day extension to hold its annual general meeting ("AGM"). For the same reason set out above, the outcome of the restructuring and Ezra Chapter 11 Filing may material impact the Company's audited financial statements for the full financial year ended 31 August 2016.

The Company will update shareholders on the outcome of the application to ACRA for extension of time to hold its AGM and the intended date of the AGM in due course.

Further announcements will be made by the Company and the Board via SGXNET as and when there are any material developments in compliance with the listing rules of the SGX-ST.

When in doubt as to the action they should take, stakeholders and potential investors should consult their financial, tax or other advisers.

By Order of the Board

Shannon Ong Company Secretary 24 March 2017