Waiver::APPROVAL FROM ACRA FOR EXTENSIONS OF TIME TO HOLD THE AGM AND TO FILE THE ANNUAL RETURN FOR FY2021

APPROVAL FROM THE ACCOUNTING AND CORPORATE REGULATORY AUTHORITY FOR EXTENSIONS OF TIME TO HOLD THE ANNUAL GENERAL MEETING OF THE COMPANY AND TO FILE THE ANNUAL RETURN OF THE COMPANY FOR THE FINANCIAL YEAR ENDED 31 MARCH 2021

Unless otherwise defined, all capitalised terms shall bear the same meanings ascribed to them in the EOT Application Announcement (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 announcement dated 15 July 2021 (the "EOT Application Announcement").

Further to the EOT Application Announcement, the Board wishes to inform shareholders that the Accounting and Corporate Regulatory Authority ("ACRA") has on 27 July 2021 approved the ACRA EOT Application in respect of the following:

1. a 60-day extension of time under Section 175 of the Companies Act (Chapter 50) of Singapore (the "Companies Act") to hold the FY2021 AGM, from the original deadline of 31 July 2021; and
2. a 60-day extension of time under Section 197 of the Companies Act to file the Company's annual return in respect of FY2021 (the "FY2021 AR"), from the original deadline of 31 August
   2021.

Accordingly, the new deadline for the Company to hold the FY2021 AGM is 29 September 2021 and the new deadline for the Company to file the FY2021 AR is 30 October 2021 (collectively, the "Revised ACRA Deadlines").

Notwithstanding the above and subject to the outcome of the EOT Application to the SGX-ST, in view that the Extension sought by the Company in the EOT Application is earlier than the Revised ACRA Deadlines, the Company will (i) issue the FY2021 AR no later than 16 August 2021, and (ii) hold the FY2021 AGM no later than 31 August 2021.

The Company will update the shareholders on the outcome of the EOT Application to the SGX-ST in due course.

By Order of the Board

Liang Chengwang

Executive Chairman and Chief Executive Officer

28 July 2021

This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. ("Sponsor") in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("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 assume 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].