General Announcement::Use of Compliance Placement Proceeds

REVEZ CORPORATION LTD.

(Incorporated in the Republic of Singapore)

(Company Registration No. 201119167Z)

UPDATE ON USE OF COMPLIANCE PLACEMENT PROCEEDS

The Board of Directors ("Board") of Revez Corporation Ltd. ("Company" and together with its subsidiaries, the "Group") refers to the net proceeds of approximately S$7,922,000 raised from the Reverse Takeover ("RTO") and the Compliance Placement of 21,621,621 new ordinary shares at S$0.3664 each in the issued and paid-up share capital of the Company on 3 June 2019 (the "Placement").

The Company refers to its announcements dated 16 December 2019, 19 February 2020, 27 October 2020, 26 February 2021, 3 June 2021 and 14 June 2021 in relation to the Compliance Placement Proceeds ("the Earlier Announcements"), and wishes to provide an update on the use of the Net Proceeds as follows:

Description			Compliance	Reallocation(1)	Revised	Utilisation up to
				Placement		Compliance	8 July 2021
				Proceeds		Placement
				Allocation	(S$'000)	Proceeds	(S$'000)
				(S$'000)		Allocation
						(S$'000)
Repayment of debts owing by the	1,422	(530)	892	892
Company before RTO (1)
To fund general corporate activities
including,	but	not	limited to,	4,000	-	4,000	3,200 (2)
acquisitions, joint	ventures and/or
strategic	alliances,	establishing
overseas	companies	and branch
offices
General working capital (1)	1,360	530	1,890	1,044 (3)
Net Proceeds / Utilisation	6,782	-	6,782	5,136
Professional fees and expenses (4)	960	-	960	960
Miscellaneous expenses	180	-	180	180
Gross Proceeds / Utilisation	7,922	-	7,922	6,276

1. All debts owing by the Company before RTO have been repaid by the Company. The balance of approximately S$530,000 shall be reallocated as general working capital. The old debts repayment was less than budgeted due mainly to reduction of debts owing to several creditors after negotiation by the management.
2. The Company has utilised S$800,250 as paid up capital for the incorporation of AIAC Pte. Ltd on 19 February 2020 and used S$2,400,000 to fund the Purchase Consideration for the completion of Proposed Acquisition of PGK Media Networks Pte. Ltd. on 27 October 2020.
3. Approximately S$44,000 of the working capital from the Placement proceeds were used to pay for the RTO and Placement related expenses and approximately $1,000,000 loan to subsidiary for working capital and to purchase 3,000 units of media equipment for project awarded repayable within 48 months from loan disbursement with interest at 2.0% p.a.
4. This includes fees payable to professionals including sponsor, legal advisers, tax advisers, auditors, valuers and public relations consultants in connection with the RTO.

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REVEZ CORPORATION LTD.

(Incorporated in the Republic of Singapore)

(Company Registration No. 201119167Z)

Save for the reallocation of the Compliance Placement Proceeds, the use of the Net Proceeds and Gross Proceeds as disclosed above is in accordance with the stated use and in accordance with the percentage allocated in the Circular to Shareholders dated 29 March 2019.

The Company will continue to make periodic announcements on the utilisation of the Net Proceeds as and when the funds are materially disbursed.

By Order of the Board

REVEZ CORPORATION LTD.

Neo Wee Han Victor

Executive Director, Chief Executive Officer and Deputy Board Chairman

Date: 8 July 2021

This announcement has been reviewed by the Company's sponsor, Hong Leong Finance Limited. It has not been examined or approved by the Exchange and the Exchange 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 press release.

The contact person for the sponsor is Ms. Vera Leong, Vice President, Hong Leong Finance Limited, at 16 Raffles Quay, #01-05 Hong Leong Building, Singapore 048581, telephone [phone].

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