SLB DEVELOPMENT LTD. — Director's Dealing 2025

Apr 15, 2025

PROPOSED PRIVATISATION OF SLB DEVELOPMENT LTD. BY WAY OF A SCHEME OF ARRANGEMENT

DEALINGS DISCLOSURE ANNOUNCEMENT

1. INTRODUCTION

United Overseas Bank Limited (" UOB ") refers to the joint announcement dated 24 January 2025 (the " Joint Announcement ") issued by the respective boards of directors of SLB Development Ltd. (the " Company ") and Lian Beng Group Pte. Ltd. (the " Offeror ") in relation to the proposed privatisation of the Company through the acquisition (the " Acquisition ") by the Offeror of all the issued and paid-up ordinary shares (" Shares ") of the Company held by the shareholders of the Company (other than the Shares held by the Offeror), by way of a scheme of arrangement (the " Scheme ") in accordance with Section 210 of the Companies Act 1967 of Singapore and the Singapore Code on Take-overs and Mergers (the " Code ").

As stated in paragraph 12 of the Joint Announcement, UOB is the sole financial adviser to the Offeror in connection with the Scheme.

All capitalised terms used but not defined in this announcement (" Announcement ") shall have the same meanings given to them in the Joint Announcement, unless otherwise expressly stated or the context otherwise requires.

2. DEALINGS IN SHARES

Pursuant to Rule 12.1 of the Code, UOB wishes to announce, for and on behalf of the Offeror, the following dealings (the " Dealings ") in Shares by a person deemed to be acting in concert with the Offeror:

Name of deemed concert party	Date of dealing	Total number of shares sold	Percentage of issued share capital of the Company constituted by the total number of Shares disposed1	Price per Share sold (excluding brokerage commission, clearing fees, stamp duties and Goods and Services Tax)
Mr. Ang Yew Lai2	21 March 2025	500,000	0.05%	S$0.225

1 The percentage shareholding interest referred to in this Announcement is rounded to two (2) decimal places and is based on 913,000,000 Shares which was obtained from publicly available information.

2 Mr. Ang Yew Lai is deemed under the Code to be a "concert party" of the Offeror in relation to the Scheme as he is the

Name of deemed concert party	Date of dealing	Total number of shares sold	Percentage of issued share capital of the Company constituted by the total number of Shares disposed1	Price per Share sold (excluding brokerage commission, clearing fees, stamp duties and Goods and Services Tax)
	9 April 2025	500,000	0.05%	S$0.220

The resultant total number of Shares owned or controlled by Mr. Ang Yew Lai after the Dealings is 100,000 Shares, representing approximately 0.01% of the total number of Shares. Based on the latest information available to the Offeror, the resultant total number of Shares owned controlled or agreed to be acquired by the Offeror and persons acting or deemed to be acting in concert with the Offeror is 719,122,900 Shares, representing approximately 78.76% of the total number of Shares.

3. DIRECTORS' RESPONSIBILITY STATEMENT

The directors of the Offeror (including those who may have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and opinions expressed in this Announcement (other than those relating to the Company or any opinion expressed by the Company) are fair and accurate and that there are no other material facts in relation thereto not contained in this Announcement, the omission of which would make any statement in this Announcement misleading. The directors of the Offeror jointly and severally accept responsibility accordingly.

Where any information in this Announcement has been extracted or reproduced from published or otherwise publicly available sources or obtained from a named source (including the Company), the sole responsibility of the directors of the Offeror has been to ensure, through reasonable enquiries, that such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this Announcement. The directors of the Offeror do not accept any responsibility for any information relating to or any opinion expressed by the Company.

cousin of the directors of the Offeror.

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Issued by UNITED OVERSEAS BANK LIMITED

For and on behalf of LIAN BENG GROUP PTE. LTD.

15 April 2025

Any inquiries relating to this Announcement, the Acquisition or the Scheme should be directed during office hours to the UOB helpline at (65) 6539 7066.

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Forward-Looking Statements

All statements other than statements of historical facts included in this Announcement are or may be forward-looking statements. Forward-looking statements include but are not limited to those using words such as "aim", "seek", "expect", "anticipate", "estimate", "believe", "intend", "project", "plan", "strategy", "forecast", "target" and similar expressions or future or conditional verbs such as "will", "would", "shall", "should", "could", "may" and "might". These statements reflect the Offeror's current expectations, beliefs, hopes, intentions or strategies regarding the future and assumptions in light of currently available information.

Such forward-looking statements are not guarantees of future performance or events and involve known and unknown risks and uncertainties. Accordingly, actual results may differ materially from those described in such forward-looking statements. Shareholders and investors should not place undue reliance on such forward-looking statements, and neither the Offeror nor UOB undertakes any obligation to update publicly or revise any forward-looking statements.

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