REPL::Placements::Proposed Placement of 500,000,000 New Ordinary Shares in the Capital of the Company - Completion

PROPOSED PLACEMENT OF 500,000,000 NEW ORDINARY SHARES IN THE SHARE CAPITAL OF THE COMPANY

• RECEIPT OF THE LISTING AND QUOTATION NOTICE FROM THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED

Unless otherwise defined, all capitalised terms used herein shall bear the same meanings ascribed to them in the Circular (as defined below).

The Board of Directors (the "Board" or the "Directors") of China Star Food Group Limited (the "Company" and together with its subsidiaries, the "Group") refers to the Company's circular dated 14 October 2021 (the "Circular").

Further to the Circular, the Board is pleased to announce that the Company has, on 10 November 2021, received the listing and quotation notice (the "LQN") from the Singapore Exchange Securities Trading Limited ("SGX-ST") for the listing and quotation of the 500,000,000 Subscription Shares on the Catalist Board of the SGX-ST, subject to compliance with the listing requirements of the SGX-ST for the Subscription Shares.

The LQN is not to be taken as an indication of the merits of the Proposed Placement, the Subscription Shares, the Company and/or its subsidiaries.

Pursuant to the LQN, the Subscription Shares have to be placed out within seven (7) market days from the date of the LQN.

The Company will continue to keep Shareholders updated and release the necessary announcements in relation to the Proposed Placement as may be appropriate from time to time and in accordance with the Catalist Rules.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the Company's securities. When in doubt, shareholders and potential investors are advised to seek independent advice from their bankers, stockbrokers, solicitors or other professional advisers.

By Order of the Board

Liang Chengwang

Executive Chairman and Chief Executive Officer

10 November 2021

This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) 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 correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Mr Andrew Leo, Chief Executive Officer, at 7 Temasek Boulevard, #18- 03B Suntec Tower 1, Singapore 038987, telephone [phone].