Asset Acquisitions and Disposals::Completion of partial divestment of certain shares in an indirect associated company

TUAN SING HOLDINGS LIMITED

(Company Registration No. 196900130M)

(Incorporated in Singapore)

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COMPLETION OF PARTIAL DIVESTMENT OF CERTAIN SHARES IN

GULTECH (JIANGSU) ELECTRONICS CO., LTD

BY A SUBSIDIARY OF THE COMPANY'S INDIRECT ASSOCIATED COMPANY

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1. Introduction
   The Board of Directors (the "Board") of Tuan Sing Holdings Limited (the "Company") refers to the Company's announcement dated 30 April 2021 (the "Announcement").
2. Completion
   Further to the Announcement, the Board is pleased to announce that the divestment by Gultech China Pte. Ltd. ("Gultech China"), a subsidiary of the Company's associated company, Gul
   Technologies Singapore Pte. Ltd., of approximately 13% of the total shares in the issued share capital of Gultech (Jiangsu) Electronics Co., Ltd ("Gultech Jiangsu") to two groups of investors based in the People's Republic of China ("PRC"), Yonghua Capital and Wens Capital (the
   "Yonghua Wens Transaction"), has been completed.
   Additionally, as set out in the unaudited condensed interim financial statements for the half year ended 30 June 2021 as announced by the Company on 6 August 2021, Gultech China has entered into a sale and purchase agreement to divest a further stake of 2.5% of the total shares in the issued share capital of Gultech Jiangsu to the investment arm of the local authority Xishan Economic and Technology Development Zone (the "Xishan Transaction") for a consideration of RMB 83.75 million and the Xishan Transaction is currently pending completion.
   Following completion of the Yonghua Wens Transaction and the Xishan Transaction, Gultech China and Gultech Jiangsu will remain as associated companies of the Company.
   The onboarding of new shareholders as part of a broader restructuring of Gultech Jiangsu's shareholding capital is in line with its strategic review and positions Gultech Jiangsu for a possible listing in the PRC.

BY ORDER OF THE BOARD

William Nursalim alias William Liem

Executive Director/Chief Executive Officer

1 September 2021