General Announcement::Applications for Extension of Time to Meet the Requirements of Rules 1314, 1315 and 1304(1)

KS ENERGY LIMITED

(Under Judicial Management)

("Company")

(Company Registration No. 198300104G)

(Incorporated in the Republic of Singapore)

APPLICATIONS FOR EXTENSION OF TIME (A) TO MEET THE REQUIREMENTS OF RULES 1314 AND 1315 OF THE LISTING MANUAL OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ("LISTING MANUAL" AND "SGX-ST") TO EXIT FROM THE SGX-STWATCH-LIST("WATCH-LIST"), (B) TO MEET THE REQUIREMENTS OF RULE 1304(1) TO SUBMIT RESUMPTION PROPOSAL(S)

1. APPLICATION FOR EXTENSION OF TIME IN RESPECT OF RULES 1314 AND 1315

The Judicial Managers refer to the announcement made by the Company on 4 June 2018 (the "Watch- List Announcement") in relation to the inclusion of the Company on the Watch-List with effect from 5 June 2018.

As stated in the Watch-List Announcement and Rule 1315 of the Listing Manual, the Company is required to fulfill the requirements under Rule 1314 of the Listing Manual for its removal from the Watch- List within 36 months from 5 June 2018 (that is, by 4 June 2021), failing which the SGX-ST may either delist the Company or suspend trading of the Company's shares with a view to delisting the Company.

The Judicial Managers wish to announce that an application has been submitted on 23 July 2021 for a waiver or extension of time for the Company to comply with the requirements under Rule 1314 and Rule 1315 of the Listing Manual. Further information on the said application and the outcome will be announced in due course.

1. APPLICATION FOR EXTENSION OF TIME IN RESPECT OF RULE 1304

The Judicial Managers further refer to the announcements made on 12 August 2020, 13 October 2020 and 6 April 2021 relating to the suspension of trading of the shares of the Company, the grant of the Judicial Management Orders and the extension of the Judicial Management Orders to 11 October 2021.

Trading in the shares of the Company ("Shares") on the SGX-ST has been suspended since 12 August 2020. Under Rule 1304(1) of the Listing Manual, the Company is required to submit a resumption proposal to the SGX-ST with a view to resuming trading in the Shares ("Resumption Proposal") within 12 months of the date of the Company's suspension (that is, by 11 August 2021).

The Judicial Managers have been taking active steps to rehabilitate the Company and are currently engaging in discussions with a few potential investors, who have expressed preliminary interests in the Company or its listing status. In view of the timeline imposed under Rule 1304(1) of the Listing Manual, the Judicial Managers have applied to the SGX-ST on 23 July 2021 for an extension of time to submit a Resumption Proposal ("Resumption Proposal Extension Application") to enable the Judicial Managers to continue with discussions with the interested parties for a potential investment in the Company. The Resumption Proposal Extension Application is also presently under review by the SGX- ST, and the Judicial Managers will provide further updates on its outcome in due course.

SUBMITTED BY THE JUDICIAL MANAGERS

For and On Behalf of the Company

Andrew Grimmett and Lim Loo Khoon

Judicial Managers

23 July 2021