General Announcement::Loan Agreement with MKY Capital

(Incorporated in the Republic of Singapore)

(Company Registration No. 200009059G)

LOAN AGREEMENT WITH MKY CAPITAL PTE. LTD. ("MKY")

- UPDATE TO SHAREHOLDERS ON PRE-TRIAL CONFERENCE

The board of directors (the "Board") of mDR Limited (the "Company", together with its subsidiaries, collectively the "Group") refer to the Company's announcements dated 17 May 2021, 27 September 2021, 28 September 2021, 26 November 2021 and 8 December 2021 in relation to the Loan Agreement with MKY (collectively, the "Announcements"). Unless otherwise defined, capitalised terms used herein shall have the same meanings as ascribed to them in the Announcements.

Further to the Announcements, the Board wishes to update shareholders that the Company had on 13 December 2021 received a summons for injunction ("Injunction Summons") filed by MKY, in which, amongst others, MKY sought an order to restrain the Company, whether by itself or through its agents (including, without limitation, the appointed receivers of the Mortgaged Property being Mr. Abuthahir Abdul Gafoor and Ms. Yessica Budiman of AAG Corporate Advisory Pte Ltd), from selling, disposing of, or otherwise dealing with the Mortgaged Property pending final determination of the Originating Summons.

At the pre-trial conference held on 15 December 2021, the Court, amongst other directions and orders, directed:

1. the timelines to file the affidavits for both the Originating Summons and the Injunction Summons;
2. that the next pre-trial conference is fixed on 19 January 2022 at 2:30 p.m.; and
3. that the hearing of the Originating Summons and the Injunction Summons on 10 February 2022 at 2:30 pm.

The Company is presently seeking legal advice on the appropriate course(s) of action in relation to the Originating Summons and Injunction Summons.

The Company will provide further details, where necessary, in subsequent announcement(s) in accordance with the listing rules of the Singapore Exchange Securities Trading Limited to keep shareholders updated on any material developments. Shareholders and potential investors of the Company are advised to exercise caution when dealing or trading in the shares of the Company and are advised to read this announcement and any further announcements by the Company carefully. Shareholders and potential investors who are in any doubt about the contents of this announcement or as to the action they should take, should consult their stockbroker, bank manager, solicitor, accountant or other professional advisers immediately.

BY ORDER OF THE BOARD

Madan Mohan

Company Secretary

18 December 2021