General Announcement::Disclosure Pursuant to Catalist Rules 705(6) and 705(7) for First Quarter Ended 30 September 2021

CAPALLIANZ HOLDINGS LIMITED

(Incorporated in the Republic of Singapore)

(Company Registration No. 199905693M)

DISCLOSURE PURSUANT TO RULES 705(6) AND 705(7) OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED LISTING MANUAL SECTION B: RULES OF CATALIST (THE "CATALIST RULES")

Pursuant to Rules 705(6) and 705(7) of the Catalist Rules, the board of directors (the "Board") of CapAllianz Holdings Limited (formerly known as CWX Global Limited) (the "Company", and together with its subsidiaries, the "Group") would like to provide the following updates:

1. Rule 705(6)(a) of the Catalist Rules in relation to the use of funds/cash for the quarter and a projection on the use of funds/cash for the next immediate quarter, including material assumptions.

The expenditure incurred for mining and exploration activities during the first quarter from 1 July 2021 to 30 September 2021 ("1Q2022") is as follows:

The projected expenditure for mining and exploration activities in the second quarter from 1 October 2021 to 31 December 2021 ("2Q2022") is as follows:

1. Rule 705(6)(b) of the Catalist Rules in relation to the confirmation from the Board.
   The Board confirms that, to the best of its knowledge, nothing has come to its attention which may render the information provided in this announcement to be false or misleading in any material aspect.
2. Rule 705(7) of the Catalist Rules in relation to details of exploration (including geophysical surveys), development and/or production activities undertaken by the Company and a summary of the expenditure incurred on those activities, including explanations for any material variances with previous projections, for the period under review. If there has been no exploration, development and/or production activity respectively, that fact must be stated.
   The Group has a 20% stake in the Thailand onshore oil concessions located in Phetchabun Basin (the "Concessions"). There were no drilling activities undertaken at the Concessions in 1Q2021. The joint operators of the Concessions have scheduled a new drilling campaign for five new wells (aims to increase oil reserves and raise oil production volume), which is expected to commence in the last quarter of 2021, barring unforeseen circumstances and subject to the then situation of the COVID-19 pandemic in Thailand. This new drilling campaign is expected to be fully funded by the positive cash flow generated from the sale of oil drawn from the existing producing wells.

As the operations at the Concessions are self-funded, the Group did not and does not expect to incur any expenditure for exploration, development and production activities for 1Q2022 and 2Q2022, respectively.

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Save as disclosed above, the Group does not have any exploration, development and/or production activities for 1Q2022 and is not expected to incur any expenditure for such activities for 2Q2022.

By order of the Board

Jeffrey Pang

Chief Executive Officer and Executive Director

12 November 2021

This announcement has been prepared by CapAllianz Holdings Limited (the "Company") and its contents have been reviewed by the Company's sponsor (the "Sponsor"), ZICO Capital Pte. Ltd., in accordance with Rule 226(2)(b) 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 correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Goh Mei Xian, Associate Director, ZICO Capital Pte. Ltd. at 8 Robinson Road #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

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