General Announcement::Extension of Long Stop Date under Investment Agreement between SHL and Rawabi

Swiber Holdings Limited	12 International Business Park, Swiber@IBP #01-05, Singapore 609920
(Judicial Managers Appointed)	Tel: [phone] Fax: [phone]
Co. Reg. No. 200414721N	www.swiber.com

EXTENSION OF LONG STOP DATE UNDER INVESTMENT AGREEMENT BETWEEN SWIBER HOLDINGS LIMITED AND RAWABI HOLDING COMPANY LIMITED

1. INTRODUCTION

1.2 Swiber Holdings Limited (Judicial Managers Appointed) (the "Company" and together with its subsidiaries, the "Group") refers to its announcement dated 28 December 2020 (the "28 December 2020 Announcement") in relation to a proposed investment of up to US$200 million by Rawabi Holding Company Limited ("Rawabi") comprising of (i) a proposed investment of US$10 million in a wholly-owned subsidiary to be incorporated by the Company in Singapore ("New Swiber") pursuant to the investment agreement dated 28 December 2020 entered into between the Company and Rawabi (the "Investment Agreement"); and (ii) a proposed investment of up to US$190 million in the Company's wholly-owned subsidiary, Equatoriale Energy Pte. Ltd. on terms to be agreed.

1.2 All capitalised terms used in this announcement shall, unless otherwise defined herein, have the same meanings as used in the 28 December 2020 Announcement.

2. EXTENSION OF LONG STOP DATE

1. As stated in paragraph 8.1(a) of the 28 December 2020 Announcement, the Investment Agreement may be terminated, amongst others, by either the Company or Rawabi pursuant to a failure to fulfil certain Conditions Precedent on or before 30 June 2021 or such other date as the Parties may agree in writing (the "Long Stop Date").
2. The Company wishes to announce that as more time is required by the Company and Rawabi to fulfil certain Conditions Precedent, the Parties have on 29 June 2021 mutually agreed in writing to extend the current Long Stop Date of 30 June 2021 to 30 September 2021 (or such other date as the Parties may further mutually agree in writing).

3. FURTHER ANNOUNCEMENTS

The Company will make further announcements, in compliance with the requirements of the Listing Manual of the SGX-ST, when there are material developments in relation to the transactions contemplated under the Investment Agreement.

By Order of the Judicial Managers

Bob Yap Cheng Ghee

Joint and Several Judicial Manager

30 June 2021

By Order of the Board

Raymond Kim Goh

Chairman

30 June 2021