Annual Reports and Related Documents::

1. ABOUT THIS REPORT

We are pleased to present the Fourth Sustainability Report of Jasper Investments Ltd. ("Jasper" or the "Company"). This report covers the operations and overall sustainability impact of Jasper and its subsidiary, Garnet 9 Carriers Pte. Ltd. (the "Group").

Management Structure

The Board of Directors (the "Board"), with the support of the Management, will have overall responsibility for overseeing the sustainability initiatives. The Board will determine the strategic direction and will ensure that due considerations are given to sustainability matters during strategy formulation and implementation for the business and growth of the Group.

Sustainability Priorities

Several of our projects were scheduled to enter into commercial stage during 1st Quarter 2021 as the Board prepared to identify key sustainability priorities which were material to the business of the Group then. The Board and the management recognise that in connection with the Company's marine logistics transportation projects in the China Greater Bay Area that were announced ("Projects") and which were at the relevant time in the planning or early start-up stage, the immediate and primary responsibility of the management is to identify the sustainability priorities in so far as its involvement with the Projects is concerned.

Unfortunately, the pro-longed outbreak of COVID 19, in particular the outbreak of the Delta variant, has brought about detrimental impact on the businesses and operations globally and the North Asian region. With the lock-down measures imposed in the region and in China, the Projects were suspended or delayed. For and following the resumption of the Projects, the management will identify key sustainability priorities which are material to the business of the Group.

Preparation of this Sustainability Report

This report has been prepared in accordance with Rule 711A and 711B of the Listing Manual of the Singapore Exchange Securities Trading Limited for Sustainability Reporting.

Reporting Scope and Period

This Fourth Sustainability Report, which covers the period from 1 April 2020 to 31 March 2021 ("FY2021"), provides information on the Group's sustainability performance as well as its on-going strategies and practices.

ESG Reporting Framework

The Group's Sustainability Report has been prepared with reference to the Global Reporting Initiative ("GRI") Standards but has not fully adopted the GRI Standards. The GRI Standards are widely adopted globally as standards for sustainability reporting and provide businesses and organisations worldwide a framework to measure, understand and communicate their critical sustainability matters on economic, environmental, social performance to stakeholders. The Board intends to prepare the Company's Sustainability Reports in accordance with the GRI Standards, in so far as it shall be practicable to adhere to such standards in the context of the Group and its operations.

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2. MESSAGE FROM THE BOARD Vision for Sustainability

We see ourselves as a provider of infrastructure, marine logistical and transportation solutions that take responsibility of the environment, resources, and the surrounding community around us.

Mission and Values

Mission

Our mission is to become a one-stop solution provider for our clients in the provision of infrastructural development, operations and marine transportation services in North and South-East Asia. We aim to design bespoke solutions which will optimize productivity and minimize resources while complying with the local Environmental Impact Assessment Studies ("EIAS") and the Securities Investors Association Singapore ("SIAS") codes and recommendations.

Values

Our staff will demonstrate their highest regard for the Company's values through their quality of work and commitments.

• We respect, protect and develop our people.
• We create value for our stakeholders.
• We conduct our business with transparency and in compliance with local conditions.

Cognizance of the Group's social-economic responsibilities

We live in an inter-connected world. How we consume resources would matter from a long-term perspective of the sustainability of our Group, our people, our vendors and the environment that we operate in. It is an inter-related community that serves us, and in return, we need to protect it for the benefits that we intend to draw for years to come.

At Jasper, we help build core infrastructural structures to better the lives of many, but we are also mindful of our actions thus implementing each project with sustainable practices such as adhering to local EIAS and SIAS codes adopted by the project owners before each project is planned and carried out. The Group will enter, in the course of its business, into collaboration, co-operation and/or joint operations with third party principal contractors, sub-contractors, vendors and service providers. In engaging with such third parties, and as appropriate, we plan to highlight Jasper's vision for sustainability and the Group's desire to work with parties that embrace sustainability values and visions that are no less stringent than those adopted by the Group. It is the longer-term goal of the Group to streamline its selection process in relation to the employment or engagement of third-party vendors and service providers to take into consideration the sustainability values and visions of such parties.

At the individual level, we ensure there is transparency in our project management activities and exercise a high level of health and safety standards for all employees and individuals who work with or provide services and support to the Group. People are and will continue to be an asset to the Company. We are committed to creating a work culture that welcomes equality, diversity and

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inclusion. Our recruitment policy ensures staff are strictly employed based on merit and capability, regardless of their gender, age or nationality.

Board Assurance

Together as an organization, we take responsibility of the future by making the right choices. The Board never considers our sustainability work complete, and we constantly push forward to find better solutions, to adopt the best practices and mitigate any risks to the environment arising from the Group's operations. The Board will continue, as part of its strategic formulation for the Group's business, development and growth, to consider sustainability issues. The Board will determine and identify the material environmental, social and governance ("ESG") factors, revisit such determination as and when appropriate or necessary, as well as manage and monitor (or effectively delegate such management and monitoring of) the material ESG factors.

Feedback

We value feedback from our stakeholders as it allows us to continually improve our sustainability policies, processes and performance. Please kindly address all feedback to the Board. Your feedback and suggestions are important to us and will be considered as part of our on-going initiatives to improve on our future reporting.

Recognising Stakeholders' Support

The Board would like to thank all our stakeholders for their continued support and participation in our journey towards a sustainable future.

Board of Directors

Jasper Investments Ltd

28 August 2021

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3. MANAGEMENT OF SUSTAINABILITY: IT IS A CONTINUOUS LOOP

Board of Directors

Values

Principal Contractors /

Project Owners

Sustainability Governance is a continuous proactive and reactive loop involving the 4 units above.

At the outset, the Board will set the Vision, Mission and Values that the Group should adhere to and seek to fulfil.

The Board and the Management, with the assistance and support of senior Project Managers as well as third party principal contractors, sub-contractors, vendors and service providers ("Vendors"), shall translate adopted EIAS and SIAS into measurable deliverables.

It is expected that all Project Managers assigned to the Vendors' transportation resources are to report each trip in an unbiased and objective manner.

All future business endeavours will be anchored with identified sustainability factors as well.

Continuous feedback from all units of the above sustainability loop is to enable the Group to monitor achievability, modify targets and to make aware new areas for inclusion.

4. THE GROUP COMMITS TO GOOD BUSINESS ETHICS

The Group is committed to conducting its business with high ethical standards. Under the leadership of the Board, the Group will continually ensure that all applicable laws and regulations in Singapore and in any jurisdiction that the Group operates or has activities are duly complied with. Such laws and regulations include those that relate to anti-money laundering and anti-corruption. The Board will look into establishing ethical guidelines and policies which the Management and employees are expected to follow.

The Group aims to prevent corrupt practices in all aspects of its business and conduct its activities in an ethical and honest manner. Our ethical environment fosters a culture for all employees to develop

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