General Announcement::Collaboration with NUS for Low-Carbon Energy Research Funding Initiative Grant

DYNA-MAC HOLDINGS LTD.

Co. Reg. No. 200305693E

(Incorporated in Singapore)

Dyna-Mac collaborates with National University of Singapore (NUS) to attain grant for Low- Carbon Energy Research Funding Initiative (LCER FI)

The Board of Directors of Dyna-Mac Holdings Ltd. ("Dyna-Mac" and together with its subsidiaries, the "Group") wishes to announce that the Group has collaborated with NUS to secure a grant under the Low- Carbon Energy Research Funding Initiative (LCER FI). [Source: 12 Projects Awarded $55 Million to Accelerate Decarbonisation in Singapore (ema.gov.sg)]

This grant is awarded to support the development and demonstration of projects on low-carbon energy technology solutions. The Group will be working closely with NUS as an Industry Collaborator.

The project aims to achieve an improved process for methane pyrolysis, i.e. catalytic cracking and separating natural gas/methane into H2 gas and solid carbon. It examines development of a novel bi- functional catalytic membrane reactor (CMR) process, where ultra pure H2 and highly-ordered carbon nanotubes (CNTs) are co-produced via methane (natural gas) pyrolysis process with zero carbon dioxide (CO2) emission.

The potential benefit is that methane pyrolysis is a potential pathway to producing low-carbonH2 in Singapore. The process is currently costly and energy intensive. If successful, this can reduce the cost of H2 production in Singapore whilst producing valuable carbon products at the same time.

The Group is currently pursuing opportunities in the global hydrogen and ammonia market, which is adjacent to its core capabilities. In connection with the above, the Group is looking to tap its modular construction capabilities to the fabrication of hydrogen modules.

The above grant is not expected to have a material impact on the Group's earnings per share and net tangible assets for the current financial year ending 31 December 2021.

BY ORDER OF THE BOARD

Lim Ah Cheng

Chief Executive Officer & Executive Director

Date: 27 October 2021