Waiver :: Rejection By Acra Of The Application For Further Eot To Hold AGM For Fye 31 July 2020 And To File Ar

LIFEBRANDZ LTD.

(Company Registration No. 200311348E)

(Incorporated in the Republic of Singapore)

REJECTION BY THE ACCOUNTING AND CORPORATE REGULATORY AUTHORITY ("ACRA") OF THE APPLICATION FOR FURTHER EXTENSION OF TIME (1) TO HOLD THE COMPANY'S ANNUAL GENERAL MEETING ("AGM") FOR THE FINANCIAL YEAR ENDED 31 JULY 2020 ("FY2020"); AND (2) TO FILE ITS ANNUAL RETURN FOR FY2020

The Board of Directors (the "Board") of LifeBrandz Ltd. (the "Company", and together with its subsidiaries, the "Group") refers to the following announcements dated 24 August 2020, 4 September 2020 and 24 November 2020 respectively:

1. the application to and the grant by the Singapore Exchange Securities Trading Limited (the "SGX-ST") to the Company (i) for a 3-month extension to announce its unaudited financial statements for FY2020 ("FY2020 Results") by 31 December 2020; and (ii) to hold the Company's AGM for FY2020 by 26 February 2021; and
2. the approval by the ACRA for the Company's application for extension of time (i) to hold its AGM for FY2020 by 29 January 2021; and (ii) to file its annual return for FY2020 by 1 March 2021

(collectively, the "Announcements").

The Board wishes to announce that further to the Announcements, the Company submitted an application to ACRA for a further standard 60-day extension of time to (i) hold its AGM by 30 March 2021; and (ii) file its annual return for FY2020 by 30 April 2021 under section 175 and section 197 of the Companies Act, Chapter 50 of Singapore (the "Companies Act") ("Further AGM and Annual Return Extension").

Pursuant to the above, the Board wishes to announce that the Company had subsequently being informed by the Company Secretary that ACRA had rejected the Further AGM and Annual Return Extension.

In view of the external audit of the Group's financial statements is still in progress, the Company intends to revise and re-submit the Further AGM and Annual Return Extension to ACRA.

The Company is making arrangements to hold its AGM by 26 February 2021 and will continue to update shareholders as and when necessary. The annual report of the Company containing, amongst others, the notice of the AGM, will be despatched to shareholders in due course.

By Order of the Board

Saito Hiroyuki

Executive Chairman / Chief Executive Officer

13 January 2021

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Lee Khai Yinn (Tel: [phone]), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.