KIMLY LIMITED (the " Company ") (Registration No. 201613903R)

ENTRY INTO DEFINITIVE AGREEMENTS TO ACQUIRE PORTFOLIO OF FOOD OUTLET PROPERTIES

• RECEIPT OF LISTING AND QUOTATION NOTICE IN RESPECT OF CONSIDERATION SHARES

The Board of Directors (the “ Board ”) of Kimly Limited (the “ Company ”) refers to the announcement made by the Company on 21 February 2020 (the “ Announcement ”) in relation to, inter alia , definitive agreements entered into by the Company to acquire portfolio of food outlet properties. Unless otherwise defined herein, all capitalised terms used in this announcement shall bear the same meanings as defined in the Announcement.

Further to the Announcement, the Board is pleased to announce that the Company had on 23 March 2020 received the listing and quotation notice dated 20 March 2020 from the SGX-ST (the “ LQN ”) for the listing of, and quotation for, 40,000,000 Consideration Shares to be listed on the Catalist of the SGX-ST, comprising:

• (a) 22,000,000 Consideration Shares as partial consideration payable to acquire 100% of the issued and fully paid-up share capital of Wei Sheng Holdings Pte Ltd from vendors, Yew Lee Heng LP-Gas Trading Pte Ltd (“ YLH Trading ”) and Mr Tan Koo Bock; and

• (b) 18,000,000 Consideration Shares as partial consideration payable to acquire three (3) industrial canteen properties and a coffee shop property from a vendor, YLH Trading (collectively, the “ Proposed Acquisitions ”).

The LQN is not an indication of the merits of the Consideration Shares, the Proposed Acquisitions, the Company, its subsidiaries and their securities.

BY ORDER OF THE BOARD

Hoon Chi Tern Company Secretary 23 March 2020

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") in accordance with Rules 226(2)(b) and 753(2) 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. 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 Joseph Au, Associate Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, and E-mail: [email protected]).