Kinergy : SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE FIFTH CONNECTED SUBSCRIPTION AGREEMENT

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Kinergy Corporation Ltd.

光 控 精 技 有 限 公 司 *

(Incorporated in Singapore with limited liability)

(Stock Code: 3302)

SUPPLEMENTAL ANNOUNCEMENT

IN RELATION TO

THE FIFTH CONNECTED SUBSCRIPTION AGREEMENT

Reference is made to (i) the announcement dated 15 December 2020 and the circular dated 23 February 2021 (the "Circular") of Kinergy Corporation Ltd. (the "Company") in relation to the Subscription Agreements; (ii) the announcement of the Company dated 10 March 2021 in relation to the termination of the First Subscription Agreement; and

1. the announcement of the Company dated 1 April 2021 in relation to the Completed Subscriptions (the "Completion Announcement"). The purpose of this announcement is to provide further information with respect to the Fifth Connected Subscription Agreement. Unless the context requires otherwise, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular and the Completion Announcement.

In light of cross-border travel restrictions due to the outbreak of COVID-19, Future China Investment (i.e., the subscriber under the Fifth Connected Subscription Agreement) needs additional time to arrange for payment for its Subscription Shares, and at its request, the Company and Future China Investment have agreed in writing to postpone the Completion Date of the Fifth Connected Subscription to a day on or before 14 April 2021.

By order of the Board

Kinergy Corporation Ltd.

Lim Kuak Choi Leslie

Executive Director and Chief Executive Officer

Hong Kong, 7 April 2021

*  For identification purpose only

As at the date of this announcement, the executive Directors are Mr. Lim Kuak Choi Leslie, Mr. Du Xiaotang, Mr. Lim Khin Mann and Mr. Tay Kim Kah; the non-executive Directors are Mr. Yang Ping (Chairman) and Mr. Tsang Sui Cheong Frederick; and the independent non-executive Directors are Mr. Ng Tiak Soon, Dr. Senerath Wickramanayaka Mudiyanselage Sunil Wickramanayaka and Professor Zhang Wei.