Issuer's Early Redemption (Call Option)::Mandatory

OUE Limited

Company Registration No. 196400050E

Incorporated in Singapore

_____________________________________________________________________________

1.50 PER CENT. CONVERTIBLE BONDS DUE 2023 CONVERTIBLE INTO ORDINARY SHARES OF OUE LIMITED

- REDEMPTION AT THE OPTION OF THE ISSUER

The Board of Directors of OUE Limited (the "Company") refers to the 1.50 per cent. convertible bonds due 2023 (the "Convertible Bonds") which are convertible into ordinary shares of the Company and which were issued by the Company on 13 April 2018 and listed on the Singapore Exchange Securities Trading Limited on 16 April 2018.

The Company wishes to announce that pursuant to Condition 8.2.3 of the Terms and Conditions of the Convertible Bonds as set out in the trust deed relating to the Convertible Bonds dated 13 April 2018, it has today given notice of its intention to redeem all of the outstanding S$2,250,000 in aggregate principal amount of Convertible Bonds on 13 October 2021 (the "Redemption Bonds"). The Redemption Bonds comprise approximately 1.45% of the aggregate principal amount of Convertible Bonds originally issued.

The Redemption Bonds will be redeemed and cancelled on 13 October 2021. Upon cancellation of the Redemption Bonds, there will be no outstanding Convertible Bonds.

By Order of the Board

OUE LIMITED

Kelvin Chua

Company Secretary

10 September 2021