Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the announcement dated 4 July 2019 in relation to the above Settlement.

Reference is made to the announcement dated 4 July 2019.

In furtherance to the above announcement, the Board of Directors of Sunzen wishes to announce that the proceeds from the disposal of Sale Shares will be utilised for working capital of the Company and for defraying estimated expenses in relation to the Settlement. The actual breakdown of these expenses and the timeframe for full utilisation of the proceeds cannot be determined at this juncture as it will depend on the actual working capital requirements of the Company and the timeliness of the receipt of installments from the Purchaser.

This announcement is dated 9 July 2019.