General Announcement::UPDATE ON THE NOTICE OF COMPLIANCE - STATUS OF THE INDEPENDENT REVIEW

spackmanentertainmentgroup

SPACKMAN ENTERTAINMENT GROUP LIMITED

(Company Registration No.: 201401201N)

(Incorporated in the Republic of Singapore on 10 January 2014)

UPDATE ON THE NOTICE OF COMPLIANCE ‐

STATUS OF THE INDEPENDENT REVIEW

1. INTRODUCTION

1. The Board of Directors (the "Board") of Spackman Entertainment Group Limited (the "Company") refers to the Notice of Compliance issued by SGX RegCo on 3 September 2020 and the announcements made on 20 October 2020, 12 January 2021, 16 April 2021 and 4 October 2021 in relation to the updates on the Independent Review (collectively "Announcements").
2. Unless otherwise defined, all capitalised terms used but not defined in this announcement shall have the same meanings ascribed to them in the Announcements.

2. RECEIPT OF THE FIRST DRAFT OF THE INDEPENDENT REVIEW REPORT FOR MAXWELLISATION PROCESS

1. The ARMC wishes to update that the first draft of the independent review report has been issued to the relevant parties for maxwellisation process.
2. The relevant parties have completed their review of the first draft of the independent review report and are in the process of finalising their comments on it.
3. The completion date of the final independent review report can only be determined at a later stage.

3. OTHER MATTERS

3.1 The Company will make further announcement(s) as and when there are material developments on this matter.

Shareholders and potential investors of the Company are advised to read this announcement and any further announcements made by the Company carefully. Shareholders and potential investors of the Company are advised to refrain from taking any action with respect to their securities in the Company which may be prejudicial to their interests, and to exercise caution when dealing in the securities of the Company. Shareholders and potential investors of the Company should consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take.

By Order of the Board

Na Kyoungwon

Chief Operating Officer, President and Executive Director

2 December 2021

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited (the "SGX‐ST"). The Sponsor has not independently verified the contents of this announcement.

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 Mr Mah How Soon, Registered Professional, RHT Capital Pte. Ltd., 6 Raffles Quay #24‐02, Singapore 048580, sponsor@rhtgoc.com

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