Asset Acquisitions and Disposals::Proposed Disposal of Share Capital in Matex Chemicals (Taixing) Co,. Ltd-Extension of Long Stop Date

MATEX INTERNATIONAL LIMITED

(Incorporated in the Republic of Singapore)

(Company Registration Number: 198904222M)

PROPOSED DISPOSAL BY MATEX INTERNATIONAL LIMITED OF 60% OF THE SHARE CAPITAL IN MATEX CHEMICALS (TAIXING) CO., LTD.- EXTENSION OF LONG STOP DATE

The Board of Directors ("Board") of Matex International Limited (the "Company" and together with its subsidiaries the "Group") refers to the Company's announcement on 7 April 2021 in relation to the proposed disposal of 60% of the registered capital in Matex Chemicals (Taixing) Co,. Ltd. (万得化工

(泰兴)有限公司) ("MCT") ("Proposed Disposal") by the Company to Shengzhou Lv Huan Digital Offset

Printing Co., Ltd. (嵊州市绿环数码胶印有限公司) ( "Purchaser"). The Proposed Disposal was approved

by shareholders of the Company ("Shareholders") at an extraordinary general meeting held on 28 April 2021. Further details of the Proposed Disposal are set out in the circular to Shareholders dated 13 April 2021 ("Circular").

Unless otherwise defined, all capitalised terms used herein shall bear the meanings ascribed to them in the Circular.

Under the Agreement, if the conditions to the Proposed Disposal are not satisfied by the Long-Stop Date of 31 December 2021, then either party to the Agreement has the right to terminate the Agreement and refund any monies already paid by the Purchaser without interest.

The Board wishes to announce that the Parties to the Agreement have mutually agreed to extend the Long-Stop Date to 30 June 2022 and had on 30 November 2021 signed a supplemental agreement to give effect to the above. This is to allow more time for the fulfillment of the conditions to the Proposed Disposal, in particular, to give more time to the Other Shareholders of MCT to obtain their respective approvals for the sale of their total equity of 40% in MCT.

Save for the extension of the Long-Stop Date, all other other terms of the Agreement remain unchanged.

Shareholders and potential investors are advised to exercise caution in trading their shares in the Company as the Proposed Disposal is subject to conditions precedent and there is no certainty or assurance as at the date of this announcement that the Proposed Disposal will be completed. In the event that shareholders and potential investors are in doubt when dealing in the shares of the Company, they should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers. Further announcement(s) will be made as appropriate when there are material developments to the Proposed Disposal.

By Order of the Board

Dr. Tan Pang Kee

Chief Executive Officer / Managing Director

30 November 2021

1

This announcement has reviewed by the Company's Sponsor, Provenance Capital Pte. Ltd (the "Sponsor"), for compliance with the SGX-ST Listing Manual Section B: Rules of Catalist. It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Wong Bee Eng, Chief Executive Officer, at 96 Robinson Road, #13-01, SIF Building, Singapore 068899, Telephone: [phone], Email: [e-mail]

2