Sarine Technologies Ltd.

Major Shareholding Notification • Mar 27, 2023

SECURITIES AND FUTURES ACT (CAP. 289) SECURITIES AND FUTURES (DISCLOSURE OF INTERESTS) REGULATIONS 2012

NOTIFICATION FORM FOR SUBSTANTIAL SHAREHOLDER(S)/UNITHOLDER(S) IN RESPECT OF INTERESTS IN

FORM 3 (Electronic Format)

Explanatory Notes

• 1. Please read the explanatory notes carefully before completing the notification form.
• 1. This form is for a Substantial Shareholder(s)/Unitholder(s) to give notice under section 135, 136, 137, 137J (as applicable to sections 135, 136 and 137) or 137U (as applicable to sections 135, 136 and 137) of the Securities and Futures Act (the "SFA").
• 1. This electronic Form 3 and a separate Form C, containing the particulars and contact details of the Substantial Shareholder(s)/Unitholder(s), must be completed by the Substantial Shareholder(s)/Unitholder(s) or a person duly authorised by the Substantial Shareholder(s)/Unitholder(s) to do so. The person so authorised should maintain records of information furnished to him by the Substantial Shareholder(s)/Unitholder(s).
• 1. This form and Form C, are to be completed electronically and sent to the Listed Issuer via an electronic medium such as an e-mail attachment. The Listed Issuer will attach both forms to the prescribed SGXNet announcement template for dissemination as required under section 137G(1), 137R(1) or 137ZC(1) of the SFA, as the case may be. While Form C will be attached to the announcement template, it will not be disseminated to the public and is made available only to the Monetary Authority of Singapore (the "Authority").
• 1. Where a transaction results in similar notifiable obligations on the part of more than one Substantial Shareholder/Unitholder, all of these Substantial Shareholders/Unitholders may give notice using the same notification form.
• 1. A single form may be used by a Substantial Shareholder/Unitholder for more than one transaction resulting in notifiable obligations which occur within the same notifiable period (i.e. within two business days of becoming aware of the earliest transaction). There must be no netting-off of two or more notifiable transactions even if they occur within the same day.
• 1. All applicable parts of the notification form must be completed. If there is insufficient space for your answers, please include attachment(s) by clicking the paper clip icon on the bottom left-hand corner or in item 11 of Part II or item 10 of Part III. The total file size for all attachment(s) should not exceed 1MB.
• 1. Except for item 5 of Part II and item 1 of Part IV, please select only one option from the relevant check boxes.
• 1. Please note that submission of any false or misleading information is an offence under Part VII of the SFA.
• 1. In this form, the term "Listed Issuer" refers to -
• (a) a company incorporated in Singapore any or all of the shares in which are listed for quotation on the official list of a securities exchange;
• (b) a corporation (not being a company incorporated in Singapore, or a collective investment scheme constituted as a corporation) any or all of the shares in which are listed for quotation on the official list of a securities exchange,such listing being a primary listing;
• (c) a registered business trust (as defined in the Business Trusts Act (Cap. 31A)) any or all of the units in which are listed for quotation on the official list of a securities exchange;
• (d) a recognised business trust any or all of the units in which are listed for quotation on the official list of a securities exchange, such listing being a primary listing; or
• (e) a collective investment scheme that is a trust, that invests primarily in real estate and real estate related assets specified by the Authority in the Code on Collective Investment Schemes, and any or all the units in which are listed for quotation on the official list of a securities exchange, such listing being a primary listing ("Real Estate Investment Trust").
• 1. For further instructions and guidance on how to complete this notification form, please refer to section 7 of the User Guide on Electronic Notification Forms which can be accessed at the Authority's Internet website at http://www.mas.gov.sg (under "Regulations and Financial Stability", "Regulations, Guidance and Licensing", "Securities, Futures and Fund Management", "Forms", "Disclosure of Interests").

	Part I - General
1.	Name of Listed Issuer:
	Sarine Technologies Ltd.
2.	Type of Listed Issuer:
	Company/Corporation
	Registered/Recognised Business Trust
	Real Estate Investment Trust
3.	Is more than one Substantial Shareholder/Unitholder giving notice in this form?
	No (Please proceed to complete Part II)
	Yes (Please proceed to complete Parts III & IV)
4.	Date of notification to Listed Issuer:

27-Mar-2023

	Part III - Substantial Shareholder(s)/Unitholder(s) Details
	[To be used for multiple Substantial Shareholders/Unitholders to give notice]
	Substantial Shareholder/Unitholder A			Delete This Part III Substantial Shareholder/Unitholder
1.	Name of Substantial Shareholder/Unitholder:
	FIMI Opportunity 7, L.P.
2.	Is Substantial Shareholder/Unitholder a fund manager or a person whose interest in the securities of the Listed Issuer are held solely through fund manager(s)? Yes No
3.	Notification in respect of:
	Becoming a Substantial Shareholder/Unitholder
	Change in the percentage level of interest while still remaining a Substantial Shareholder/Unitholder
	Ceasing to be a Substantial Shareholder/Unitholder
4.	Date of acquisition of or change in interest:
	23-Mar-2023
5.	Date on which Substantial Shareholder/Unitholder became aware of the acquisition of, or the change in, interest		(if different from item 4 above, please specify the date):
	23-Mar-2023
6.	Explanation (if the date of becoming aware is different from the date of acquisition of, or the change in, interest):
7.	Quantum of total voting shares/units (including voting shares/units underlying rights/options/warrants/convertible debentures {conversion price known}) held by Substantial Shareholder/Unitholder before and after the transaction:
	Immediately before the transaction	Direct Interest	Deemed Interest	Total
	No. of voting shares/units held and/or underlying the rights/options/warrants/convertible debentures:	5,463,583	0	5,463,583
	As a percentage of total no. of voting shares/units:	1.564	0	1.564
	Immediately after the transaction	Direct Interest	Deemed Interest	Total
	No. of voting shares/units held and/or underlying the rights/options/warrants/ convertible debentures :	31,259,931	0	31,259,931
	As a percentage of total no. of voting shares/units:	8.934	0	8.934

8.	Circumstances giving rise to deemed interests (if the interest is such): [You may attach a chart in item 10 to illustrate how the Substantial Shareholder/Unitholder's deemed interest arises]
9.	Relationship between the Substantial Shareholders/Unitholders giving notice in this form: [You may attach a chart in item 10 to show the relationship between the Substantial Shareholders/Unitholders]
	FIMI Opportunity 7, L.P. and FIMI Israel Opportunity 7, Limited Partnership are two partnerships which comprise one private equity fund.
	The General Partner (and the Managing Partner) of the foregoing partnerships is FIMI 7 2020 Ltd.
	FIMI 7 2020 Ltd. (and consequently the private equity fund) is controlled by its controlling shareholder, Mr. Ishay Davidi.
10.	Attachments (if any):
	(The total file size for all attachment(s) should not exceed 1MB.)
11.	If this is a replacement of an earlier notification, please provide:
	(a) SGXNet announcement reference of the first notification which was announced on SGXNet (the "Initial Announcement"):
	(b) Date of the Initial Announcement:
	(c) 15-digit transaction reference number of the relevant transaction in the Form 3
	which was attached in the Initial Announcement:
12.	Remarks (if any): The total number of shares acquired by the Substantial Shareholders described above is 25,796,348.
	Substantial Shareholder/Unitholder B Delete This Part III Substantial Shareholder/Unitholder
1.	Name of Substantial Shareholder/Unitholder:
	FIMI Israel Opportunity 7, Limited Partnership
2.	Is Substantial Shareholder/Unitholder a fund manager or a person whose interest in the securities of the Listed Issuer are held solely through fund manager(s)? Yes No
3.	Notification in respect of:

• Becoming a Substantial Shareholder/Unitholder
• Change in the percentage level of interest while still remaining a Substantial Shareholder/Unitholder
• Ceasing to be a Substantial Shareholder/Unitholder
• 1. Date of acquisition of or change in interest:

23-Mar-2023

• Date on which Substantial Shareholder/Unitholder became aware of the acquisition of, or the change in, interest (if different from item 4 above, please specify the date): 5.
  • 23-Mar-2023
• 1. Explanation (if the date of becoming aware is different from the date of acquisition of, or the change in, interest):
• Quantum of total voting shares/units (including voting shares/units underlying rights/options/warrants/convertible debentures {conversion price known}) held by Substantial Shareholder/Unitholder before and after the transaction: 7.

Immediately before the transaction	Direct Interest	Deemed Interest	Total
No. of voting shares/units held and/or underlying the rights/options/warrants/convertible debentures:	5,463,583	0	5,463,583
As a percentage of total no. of voting shares/units:	1.564	0	1.564
Immediately after the transaction	Direct Interest	Deemed Interest	Total
No. of voting shares/units held and/or underlying the rights/options/warrants/ convertible debentures :	31,259,931	0	31,259,931

Circumstances giving rise to deemed interests (if the interest is such): [You may attach a chart in item 10 to illustrate how the Substantial Shareholder/Unitholder's deemed interest arises] 8.

Relationship between the Substantial Shareholders/Unitholders giving notice in this form: [You may attach a chart in item 10 to show the relationship between the Substantial Shareholders/Unitholders] 9.

10.		Attachments (if any):
		(The total file size for all attachment(s) should not exceed 1MB.)
11.		If this is a replacement of an earlier notification, please provide:
	(a)	SGXNet announcement reference of the first notification which was announced on SGXNet (the "Initial Announcement"):
	(b)	Date of the Initial Announcement:
	(c)	15-digit transaction reference number of the relevant transaction in the Form 3 which was attached in the Initial Announcement:
12.		Remarks (if any):
		Substantial Shareholder/Unitholder C
1.		Name of Substantial Shareholder/Unitholder:
		FIMI 7 2020 Ltd.
2.	Yes No	securities of the Listed Issuer are held solely through fund manager(s)?
3.		Notification in respect of:
		Becoming a Substantial Shareholder/Unitholder
		Ceasing to be a Substantial Shareholder/Unitholder
4.		Date of acquisition of or change in interest:
		23-Mar-2023
5.		Delete This Part III Substantial Shareholder/Unitholder Is Substantial Shareholder/Unitholder a fund manager or a person whose interest in the Change in the percentage level of interest while still remaining a Substantial Shareholder/Unitholder Date on which Substantial Shareholder/Unitholder became aware of the acquisition of, or the change in, interest (if different from item 4 above, please specify the date):

• 1. Explanation (if the date of becoming aware is different from the date of acquisition of, or the change in, interest):
• Quantum of total voting shares/units (including voting shares/units underlying rights/options/warrants/convertible debentures {conversion price known}) held by Substantial Shareholder/Unitholder before and after the transaction: 7.

Immediately before the transaction	Direct Interest	Deemed Interest	Total
No. of voting shares/units held and/or underlying the rights/options/warrants/convertible debentures:		5,463,583	5,463,583
As a percentage of total no. of voting shares/units:	0	1.564	1.564
Immediately after the transaction	Direct Interest	Deemed Interest	Total
No. of voting shares/units held and/or underlying the rights/options/warrants/ convertible debentures :		31,259,931	31,259,931

Circumstances giving rise to deemed interests (if the interest is such): [You may attach a chart in item 10 to illustrate how the Substantial Shareholder/Unitholder's deemed interest arises] 8.

Relationship between the Substantial Shareholders/Unitholders giving notice in this form: [You may attach a chart in item 10 to show the relationship between the Substantial Shareholders/Unitholders] 9.

1. Attachments (if any):

(The total file size for all attachment(s) should not exceed 1MB.)

• 1. If this is a replacement of an earlier notification, please provide:
  2. SGXNet announcement reference of the first notification which was announced on SGXNet (the "Initial Announcement"): (a)

	(b)	Date of the Initial Announcement:
	(c)	15-digit transaction reference number of the relevant transaction in the Form 3 which was attached in the Initial Announcement:
12.		Remarks (if any):
		Substantial Shareholder/Unitholder D Delete This Part III Substantial Shareholder/Unitholder
1.		Name of Substantial Shareholder/Unitholder:
		Ishay Davidi
2.	Yes	Is Substantial Shareholder/Unitholder a fund manager or a person whose interest in the securities of the Listed Issuer are held solely through fund manager(s)?
	No
3.		Notification in respect of:
		Becoming a Substantial Shareholder/Unitholder
		Change in the percentage level of interest while still remaining a Substantial Shareholder/Unitholder
		Ceasing to be a Substantial Shareholder/Unitholder
4.		Date of acquisition of or change in interest:
		23-Mar-2023
5.		Date on which Substantial Shareholder/Unitholder became aware of the acquisition of, or the change in, interest (if different from item 4 above, please specify the date):
		23-Mar-2023
6.		Explanation (if the date of becoming aware is different from the date of acquisition of, or the change in, interest):
7.		Quantum of total voting shares/units (including voting shares/units underlying rights/options/warrants/convertible debentures {conversion price known}) held by Substantial Shareholder/Unitholder before and after the transaction:
		Immediately before the transaction Direct Interest Deemed Interest Total

No. of voting shares/units held and/or underlying the rights/options/warrants/convertible debentures:	0	5,463,583	5,463,583
As a percentage of total no. of voting shares/units:	0	1.564	1.564
Immediately after the transaction	Direct Interest	Deemed Interest	Total
No. of voting shares/units held and/or underlying the rights/options/warrants/ convertible debentures :		31,259,931	31,259,931
As a percentage of total no. of voting	0	8.934	8.934

• Circumstances giving rise to deemed interests (if the interest is such): [You may attach a chart in item 10 to illustrate how the Substantial Shareholder/Unitholder's deemed interest arises] 8.

• Relationship between the Substantial Shareholders/Unitholders giving notice in this form: [You may attach a chart in item 10 to show the relationship between the Substantial Shareholders/Unitholders] 9.

• Attachments (if any):

(The total file size for all attachment(s) should not exceed 1MB.)

• 1. If this is a replacement of an earlier notification, please provide:
  2. SGXNet announcement reference of the first notification which was announced on SGXNet (the "Initial Announcement"): (a)

	(b)	Date of the Initial Announcement:
	(c)	15-digit transaction reference number of the relevant transaction in the Form 3 which was attached in the Initial Announcement:
12.		Remarks (if any):

Additional Substantial Shareholder/Unitholder ("B", "C" etc) where the information in Part I and Part IV is the same for the additional Substantial Shareholder/Unitholder

Add New Part III Substantial Shareholder/Unitholder

	Part IV - Transaction details
--	-------------------------------	--

1.	Type of securities which are the subject of the transaction (more than one option may be chosen): Voting shares/units Rights/Options/Warrants over voting shares/units Convertible debentures over voting shares/units (conversion price known) Others (please specify):
2.	Number of shares, units, rights, options, warrants and/or principal amount of convertible debentures acquired or disposed of by Substantial Shareholders/Unitholders:
	25,796,348
3.	Amount of consideration paid or received by Substantial Shareholders/Unitholders (excluding brokerage and stamp duties):
	US\$ 9,028,722
4.	Circumstance giving rise to the interest or change in interest:
	Acquisition of:
	Securities via market transaction
	Securities via off-market transaction (e.g. married deals)
	Securities via physical settlement of derivatives or other securities
	Securities pursuant to rights issue
	Securities via a placement
	Securities following conversion/exercise of rights, options, warrants or other convertibles
	Disposal of:
	Securities via market transaction
	Securities via off-market transaction (e.g. married deals)
	Other circumstances:
	Acceptance of take-over offer for the Listed Issuer
	Corporate action by the Listed Issuer which Substantial Shareholders/Unitholders did not participate in (please specify):
	Others (please specify):

Item 5 is to be completed by an individual submitting this notification form on behalf of the Substantial Shareholders/Unitholders.

1. Particulars of Individual submitting this notification form to the Listed Issuer:

(a) Name of Individual:

Gillon Beck

• (b) Designation (if applicable):
• (c) Name of entity (if applicable):

Transaction Reference Number (auto-generated):

0	2	5	8	3	0	5	4	0	7	4	6	0	5	3
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	--