RIVERSTONE HOLDINGS LIMITED

(Company Registration Number 200510666D)

(Incorporated in the Republic of Singapore)

ACQUISITION OF INDUSTRIAL LANDS

The Board of Directors of Riverstone Holdings Limited (the "Company" or together with its subsidiaries, the "Group") is pleased to announce that the Company's wholly-owned subsidiary, Eco Medi Glove Sdn Bhd ("EMG") had entered into a Sale and Purchase Agreement to acquire 6 parcels of leasehold industrial lands with a total land area of approximately 18.33 acres located at Kawasan Perindustrian Kamunting (Kamunting Industrial Estate), Kamunting, Taiping, Perak, Malaysia ("Acquisition of Industrial Lands") from I-R & D Sdn Bhd and I-Berhad respectively for a total consideration of RM17,566,000.00 ("Purchase Consideration").

The Purchase Consideration was arrived based on commercial negotiation on a "willing buyer, willing seller" basis taking into account, inter alia, the market value of similar property in that area.

The Acquisition of Industrial Lands is to support the expansion of production capacity for gloves and Group's operations.

The relative figures computed on the bases set out in Rule 1006 of the Listing Manual do not exceed 5%. Accordingly, the Acquisition of Industrial Lands constitutes a non-discloseable transaction as defined under Chapter 10 of the Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST").

The said Acquisition of Industrial Lands was funded from internal resources.

The Acquisition of Industrial Lands is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the current financial year ending 31 December 2022.

None of the Directors or substantial shareholders of the Group has any interest, direct or indirect, in the Acquisition of Industrial Land, save through their shareholdings in the Company.

BY ORDER OF THE BOARD

Wong Teek Son

Executive Chairman/Chief Executive Officer

21 March 2022

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Riverstone Holdings Limited published this content on 21 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2022 10:17:08 UTC.