AGV : Update On Creditor's Application For Judicial Management

AGV GROUP LIMITED

(Company Registration No. 201536566H)

(Incorporated in the Republic of Singapore on 2 October 2015)

UPDATE ON CREDITOR'S APPLICATION FOR JUDICIAL MANAGEMENT

Capitalised terms not defined herein shall have the meanings ascribed to them in the Company's announcement dated 20 January 2022 in relation to the application for the Company to be placed under judicial management (the "Earlier Announcement").

Further to the Earlier Announcement, the Board of Directors (the "Board") of AGV Group Limited (the "Company" and together with its subsidiaries, the "Group") wishes to update that a hearing for the IJM Application has been fixed on 24 January 2022 at 10.00 a.m.

Creditors or members of the Company who wish to receive copies of the JM Application, IJM Application and the affidavit in support (the "JM Documents") should write to the Creditor's solicitors at the following email address, to request copies of the same on payment of the regulated charge: [e-mail].

The Company will update shareholders as and when there are material developments on the JM Application and IJM Application and as required under the Catalist Rules.

Trading in the Company's securities on the SGX-ST had been voluntarily suspended by the Company on 24 November 2021.

BY ORDER OF THE BOARD

Chong Kwang Shih

Lead Independent Director

21 January 2022

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, Hong Leong Finance Limited. It has not been examined or approved by the Exchange and the Exchange 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 Kaeson Chui, Vice President, at 16 Raffles Quay, #01-05 Hong Leong Building, Singapore 048581, Telephone [phone].

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