SAMURAI 2K AEROSOL LIMITED

(Company Registration Number 201606168C)

(Incorporated in the Republic of Singapore)

INCORPORATION OF WHOLLY-OWNED SUBSIDIARY

The Board of Directors (the "Board") of Samurai 2K Aerosol Limited (the "Company", and together with its subsidiaries, the "Group") wishes to announce that the Company has incorporated a wholly-owned subsidiary (the "Subsidiary") in India on 3 December 2021.

The details of the Subsidiary are as follows: -

Name of company

Samurai 2K India Private Limited

Date of incorporation

3 December 2021

Country of incorporation:

India

Issued and paid-up capital

Rs 5,000,000 comprising 500,000 ordinary shares of Rs.10/(Rupess Ten) each

Principal activities

To buy, sell, import, export in wholesale and to deal in paints (including varnishes and related supplies)

Financial impact

The incorporation of the Subsidiary is funded through internal resources and is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the financial year ending 31 March 2022.

Interests of Directors and controlling shareholders

None of the Directors, controlling shareholders or substantial shareholder of the Company has any interest, direct or indirect, in the incorporation of the Subsidiary, save for their respective shareholdings in the Company.

By Order of the Board

Ong Yoke En

Executive Director and Chief Executive Officer

6 December 2021

This announcement has been prepared by Samurai 2K Aerosol Limited (the "Company") and its contents have been reviewed by UOB Kay Hian Private Limited (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, at 8 Anthony Road, #01- 01, Singapore 229957, telephone (65) 6590 6881.

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Samurai 2K Aerosol Ltd. published this content on 06 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 December 2021 13:51:03 UTC.