General Announcement::Monthly Valuation of Assets and Utilisation of Cash for the Month of Nov 2021 and Quarterly Update

NauticAWT Limited

(Company Registration Number: 201108075C)

(Incorporated in the Republic of Singapore)

MONTHLY VALUATION OF ASSETS AND UTILISATION OF CASH FOR THE MONTH OF NOVEMBER 2021 AND QUARTERLY UPDATE

The board of directors (the "Board" or the "Directors") of NauticAWT Limited (the "Company") wishes to announce the following pursuant to rule 1017(1)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist (the "Catalist Rules"):-

Monthly valuation of assets and utilisation of cash

(a) The Company's assets and liabilities as at 30 November 2021 were as follows: -

	US$'000
Assets
Cash and bank balances	1
Other current assets (1)	59
Investment in an associate (2)	2,274
Total assets	2,334
Liabilities
Other current liabilities (3)	602
Total liabilities	602
Net assets	1,732

Notes:

1. 1. Other current assets comprise other receivables and prepayments.
   2. Recorded as book value at Company level and yet to perform fair value and impairment assessment. The Group is currently in process to complete the purchase price allocation exercise.
   3. Other current liabilities comprise other payables (US$140,000), loan from controlling shareholder (US$387,000) and accrued expenses (US$75,000).
2. The Company's utilisation of cash from 1 November 2021 to 30 November 2021 was as follows: -

	US$'000
Opening cash and bank balances	1
Add receipts:
Loan from controlling shareholder	14
	14
Less payments:
Other payables(1)	4
Other administrative and operating expenses	10
	14
Closing cash and bank balances	1

Note:

1. Payment of other payables including bank charges and foreign exchange differences.
   1

QUARTERLY UPDATE OF MILESTONES IN OBTAINING A NEW BUSINESS

The Company has on 30 November 2021 announced that the Company has entered into a share purchase agreement dated on 30 November 2021 (the "SPA") with World Corporation Public Company Limited in relation to proposed acquisition of World Industrial Estate Co., Ltd. ("Proposed Acquisition"). Please refer to the announcement dated on 30 November 2021 for further details on the Proposed Acquisition.

Further, the Company has on 2 December 2021 submitted an application to the SGX-ST through its sponsor for a 6-months extension to complete the Proposed Acquisition pursuant to Catalist Rule 1017(2) ("Extension Application"). The Company will provide an update on the outcome of the Extension Application in due course.

Cautionary Statement

The Board wishes to remind Shareholders that there is no assurance that the SGX-ST approve the Extension Application or that the Company will be able to complete the Proposed Acquisition within the timeframe prescribed by the SGX-ST. Shareholders are advised to read this announcement and any further announcements by the Company carefully. Shareholders should consult their stockbrokers, solicitors or other professional advisors if they have any doubts as to the actions they should take.

All figures set out in this announcement have not been reviewed or audited by the Company's auditors.

By Order of the Board

NAUTICAWT LIMITED

Dr Chirasak Chiyachantana

Non-IndependentNon-Executive Chairman

11 December 2021

This announcement has been prepared by NauticAWT Limited (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 (the "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].

2