General Announcement::CLARIFICATION TO PRESS RELEASE OF 11 OCTOBER 2021

MEGROUP LTD.

(Company Registration No. 201804996H)

(Incorporated in the Republic of Singapore)

CLARIFICATION TO PRESS RELEASE OF 11 OCTOBER 2021

The board of directors (the "Board") of MeGroup Ltd. (the "Company") refers to the Company's press release dated 11 October 2021 and wish to make the following clarifications.

With reference to the used car dealership which the Company intends to start from 1 January 2022, such dealership is for the sale of various automobile brands.

With reference to the manufacturing facility in Kulim Hi-tech Park, the Company would like to clarify that it will set up a new manufacturing facility in Kulim Hi-tech Park, which will see the expansion of MeGroup's components manufacturing line. MeGroup will continue to produce NVH and non-NVH parts, and supply them to various automobile brands, including Mazda.

Mr Wong Cheong Chee, Executive Chairman and Chief Executive Officer of MeGroup Ltd., and Ms Carol Wong, Executive Director of MeGroup Ltd., would like to sincerely apologise for any misunderstanding caused.

By Order of the Board

Wong Cheong Chee

Executive Chairman and Chief Executive Officer

11 October 2021

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, UOB Kay Hian Private Limited (the "Sponsor"), for compliance with the relevant rules 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 assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Mr. Lance Tan, Senior Vice President, at 8 Anthony Road, #01- 01, Singapore 229957, telephone: [phone].

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