SLB DEVELOPMENT LTD. — M&A Activity 2025

Apr 16, 2025

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

DISCLOSURE OF SHAREHOLDINGS

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.

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. DISCLOSURE OF SHAREHOLDINGS

As mentioned in the Joint Announcement, in the interests of confidentiality, save for the parties set out in the Joint Announcement, the Offeror had not made any enquires in respect of certain other persons who are or may be deemed to be acting in concert with it in connection with the Scheme. Similarly, in the interest of confidentiality, UOB (as the financial adviser to the Offeror) had not made any enquiries in respect of the other members of its group.

Following enquiries made by the Offeror subsequent to the release of the Joint Announcement, UOB wishes to announce, for and on behalf of the Offeror, that based on information received by the Offeror as at 16 April 2025, the following parties who are presumed to be acting in concert with the Offeror in connection with the Scheme hold the following Shares, which represent in aggregate more than 0.5% of the total number of issued Shares:

S/No	Name	No. of Shares	%1
1.	Lee Ke Juan	500,000	0.05
2.	Lim Hee Sing	250,000	0.03
3.	Lim Shi Ni	250,000	0.03
4.	Yeong Suan Yong	150,000	0.02
5.	Yeong Sze Ting Yvonne	150,000	0.02
6.	Ong Pei Fang	125,000	0.01
7.	Than King Huat	100,000	0.01
8.	Chuah Seong Yean	1,000,000	0.11
9.	Ang Sin Liu	6,659,900	0.73
10.	Ang Yew Lai	100,000	0.01
TOTAL		9,284,900	1.02

As set out in the Joint Announcement, the Offeror and its concert parties will abstain from voting on the Scheme.

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.

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. Any discrepancies in the figures included in this Announcement between the amounts shown and the totals thereof are due to rounding. Accordingly, figures shown as totals in this Announcement may not be an arithmetic aggregation of the figures that precede them.

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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.

Issued by UNITED OVERSEAS BANK LIMITED

For and on behalf of LIAN BENG GROUP PTE. LTD. 16 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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