Waiver::SGX Approval - Ext of time to (i) hold AGM for FY2020 & (ii) release 2QFY2021 Financial Results

KTL GLOBAL LIMITED

(Company Registration No. 200704519M)

(Incorporated in the Republic of Singapore)

APPLICATION FOR FURTHER EXTENSION OF TIME TO HOLD ANNUAL GENERAL MEETING FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020

APPLICATION FOR EXTENSION OF TIME TO RELEASE THE GROUP'S UNAUDITED FINANCIAL STATEMENT FOR THE SECOND QUARTER ENDED 30 JUNE 2021

1. BACKGROUND
   The Board of Directors (the "Board" or the "Directors") of KTL Global Limited (the "Company", and together with its subsidiaries, the "Group") refers to its announcements dated 14 July 2021, 29 July 2021 and 15 August 2021 on the Company's applications to (i) the Singapore Exchange Securities Trading Limited ("SGX-ST"); and (ii) the Accounting and Corporate Regulatory Authority ("ACRA") in relation to the following:
2. 1. a further extension of time of thirty (30) days from the extended deadline of 29 July 2021 to 28 August 2021 for the Company to hold its annual general meeting ("AGM") for the financial year ended 31 December 2020 ("FY2020). The Company had on 2 September 2021 re-submitted its application for a further extension of time of sixty (60) days from the extended deadline of 29 July 2021 to 29 September 2021 to hold its AGM for FY2020; and
   2. an extension of time from 14 August 2021 to 13 October 2021 for the Company to release its announcement on the unaudited financial statements for the second quarter ended 30
      June 2021 (the "2QFY2021 Financial Results").
3. WAIVER
   The Company is pleased to announce that based on the Company's submissions and representations to SGX RegCo, SGX RegCo has on 27 September 2021 informed the Company that it has no objection to granting the following extension of time to the Company:
4. 1. a further extension of time from 29 July 2021 to 29 September 2021, to convene its AGM for FY2020 with regard to compliance with Listing Rule 707(1); and

1. an extension of time from 14 August 2021 to 2 October 2021, to announce the 2QFY2021 Financial Results with regards to compliance with Listing Rule 705(2),

(collectively, the "Waiver"), subject to the following:

1. the Company announcing the Waiver granted, the reasons for seeking the Waiver, the conditions as required under Mainboard Listing Rule 107 and if the Waiver conditions have been satisfied. If the Waiver conditions have not been met on the date of the announcement, the Company must make an update announcement when the conditions have all been met;
2. submission of a written confirmation from the Company that it is not aware of any information that will have a material bearing on the investors' decision which has yet to be announced by the Company; and
3. the Company convening the annual general meeting by 29 September 2021.

Shareholders should note that the Waiver will not be effective if any of the conditions have not been fulfilled.

1. The reasons for seeking the Waiver had been set out in the Company's announcements dated 14
   July 2021 and 15 August 2021.
2. ACRA has approved a final extension of time under Section 175(2)(a) of the Companies Act, Chapter 50 for the Company to hold its AGM for FY2020 by 28 August 2021 and the filing of the annual return of the Company by 29 August 2021. Save for the aforesaid, the Company wishes to confirm that it will not be contravention of any other laws and regulations governing the Company and its Constitution arising from the Waiver.
3. The Company has on 3 September 2021 submitted a written confirmation to SGX RegCo to confirm that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company.
4. The Company had held its AGM for FY2020 on 24 September 2021.
5. APPROVAL FROM ACRA
   As set out in the Waiver, the Company is also required to announce whether and when it had applied to ACRA for the Waiver and the outcome of its application.
   As set out in the Company's announcement dated 14 July 2021 and 29 July 2021, the Company had on 14 July 2021 applied to ACRA for an extension of time of up to 28 August 2021 to hold its AGM for FY2020. The Company had on 28 July 2021 obtained a final extension for the Company to hold its AGM for FY2020 by 28 August 2021. ACRA has indicated in its letter dated 29 July 2021 that the extension application shall be final and future requests will not be granted.
6. Following the disclosures in this announcement, the Company has complied with the Waiver conditions in paragraph 2 set out above.
7. Shareholders, stakeholders and potential investors of the Company are advised to read this announcement and any further announcements made by the Company carefully. Shareholders are also advised to refrain from taking any action with respect to their securities in the Company which may be prejudicial to their interests, and to exercise caution when dealing in the securities of the Company. Shareholders, stakeholders and potential investors of the Company should consult with their financial, tax or other advisers if they have any doubt about the actions they should take.

By Order of the Board

KTL GLOBAL LIMITED

Chin Teck Oon

Executive Director and CEO 28 September 2021