#1Leader Environmental Technologies Limited ("Leader”) Investor Presentation 11 October 2022#2Disclaimer This Presentation does not constitute, or form any part of any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities in Leader Environmental Technologies Limited ("Leader" or "Company", and together with its subsidiaries, the "Group") in Singapore or any other jurisdiction nor shall it or any part of it form the basis of, or be relied on in connection with, any investment decision, contractual commitment whatsoever in this or any jurisdiction. The information contained in this Presentation has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be place on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this Presentation. Neither the Company nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this Presentation or its contents or otherwise arising in connection with the Presentation. You are cautioned not to place undue reliance on these forward- looking statements, if any. If you are in doubt as to the action you should take, you should consult your legal, financial, tax or other professional adviser(s) immediately. This Presentation may contain forward-looking statements that involve risk and uncertainty because they relate to future events and circumstances. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. The forward-looking statements reflect the current views of Management on future trends and developments. The information and opinions mentioned in this Presentation is provided as at the date of this Presentation and are subject to change without notice. These factors include but are not limited to: Changes in general economic, political or market conditions of the businesses; Currency exchange rate fluctuations; ■ The successful execution of internal performance plans, including cost reduction and productivity efforts; ■ Product performance risks, as well as project development and management risks; ■ Customer, supplier and subcontractor performance or contract negotiations, including financing issues; ■ Competition and consolidation in the industries the Company operates in; ■ The outcome of political and legal processes including the availability of financing for certain projects; ■ Research and development costs in connection with new products; Legal, financial and governmental risks related to international transactions; Legal and investigatory proceedings and other economic, political and technological risks and uncertainties; ■ The full impact of the COVID-19 pandemic and the resulting health and economic crisis. The Directors collectively and individually accept full responsibility for the accuracy of the information given in this Presentation and confirm after making all reasonable enquiries that, to the best of their knowledge and belief, this Presentation constitutes full and true disclosure of all material facts about the CBs, Investor and the Group, and the Directors are not aware of any facts the omission of which would make any statement in this Presentation misleading. Where information in this Presentation has been extracted from published or otherwise publicly available sources or obtained from a named source, the sole responsibility of the Directors has been to ensure that such information has been accurately and correctly extracted from those sources and/or reproduced in this Presentation in its proper form and context. 2#3Contents Executive Summary Salient Convertible Bond ("CB") Terms Merits of Proposed Issue About InnoVision Capital • Appendices 。 Appendix A: Shareholdings 。 Appendix B: About Company 3#4Executive Summary#5Executive Summary US$15mm CB in view of securing more projects to increase Shareholders' Value with Business Expansion and Growth • • • • The Company seeks to issue up to US$15 million in aggregate principal amount of redeemable zero-coupon convertible bonds ("Bonds"), convertible into fully-paid ordinary shares in the capital of the Company ("Shares") at an initial conversion price of S$0.10 per new Share ("Conversion Price") ("Conversion Share"). The Company intends to use the majority of proceeds raised to secure more sludge treatment projects and Al water management projects. The sludge treatment projects are expected to generate one-off engineering, procurement and construction (EPC) income during the construction of the projects, and upon completion, generate recurring income for the Group over the lifespan of the projects, which is generally between 25 to 30 years. The Al water management projects are expected to generate recurring income for the Group during the contract period, which is generally between five to ten years. Assuming these projects are successful, they will be EPS accretive and value accretive to the Group. The additional capital raised from the Proposed Issue will position the Group favourably to build a sizable portfolio of sludge treatment projects and Al water management projects by taking on more such projects with external financing from PRC financial institutions, which typically provide funding on a 40:60 equity-debt ratio basis. 5#6Salient CB Terms#7Salient Convertible Bond ("CB") Terms (1/2) Issue Size Subscriber Conversion Price Cash Coupon Enlarged Share capital ownership of Bondholder (after full conversion of Bonds) Conversion Period Up to US$15mm (approximately S$21.43mm¹) InnoVision Pomelo LP ("Investor") S$0.10² Zero-coupon and shall not bear any interest whatsoever 12.25% Bondholder has the right, at its option, to convert all its Bonds at any time up until the date falling five Business Days before the Final Maturity Date into Shares Maturity Date Three years + two years (at option of the Company) Redemption Yield and Conditions Note: Redemption Events as follows: A change in the current holder of the offices of Executive Chairman of the Board or Chief Executive Officer of the Board other than as a result of death, loss of physical or mental capacity (evidence of which shall require the written opinion of a licensed medical practitioner) or pursuant to legal or regulatory requirements; "Delisting", "Change of Control", or "Merger"; On Maturity Date, unless previously redeemed or converted. Redemption Yield: 8% compounded annually 1) Based on an agreed fixed exchange rate of US$1 to S$1.4284 in the Investment Agreement, being the closing exchange rate on the last business day prior to the signing of the Investment Agreement as quoted by Bloomberg L.P. 2) Initial Conversion Price subject to adjustments under the Investment Agreement 7#8Salient Convertible Bond ("CB") Terms (2/2) Appointment of Nominee Director The Bondholder shall, at all times, have the right to appoint a nominee onto the board of the Company as a non-independent and non-executive director. Upon receiving a written request from the Bondholder and subject to the recommendation of the nominating committee of the Company, the approval of the Board, and in compliance with applicable requirements under the Constitution of the Company and the Listing Rules, the Company will procure the appointment of one such director nominated by the Bondholder onto the Board. Deputy Chairman Management Lock Up Conversion Price Adjustment Ms Pan Shuhong will be appointed as a non-independent and non-executive Director and Deputy Chairwoman of the Board within six months from the First Bonds Closing, and in the event that Ms Pan is ever re-designated as Executive Chairwoman of the Board, the Company will deliver to the Bondholder within one month from her re-designation, a moratorium undertaking not to sell or transfer 25% of her Shares for so long as the Bonds exist. For the avoidance of doubt, Ms Pan is not a nominee of the Investor, and her appointment has been specifically required by the Investor. Each of Dr. Lin Yucheng (Executive Chairman), Mr. Ngoo Lin Fong (Executive Director / Finance Director), Mr. Li Li (Chief Executive Officer), Dr. Yan Huaiguo (Chief Technical Officer) and Dr. Guo Chenghong (Deputy Chief Technical Officer) executing a moratorium undertaking (in the case of Dr. Lin Yucheng) not to sell or transfer his Shares and (in the case of the others) not to sell or transfer more than 25% of each of their Shares for so long as the Bonds exist. Standard anti-dilution adjustments including any consolidation, subdivision, or reclassification of Shares. If Company pays a cash dividend, the Investor will be entitled on an as-converted basis. 8#9Merits of Proposed Issue#10Merits of CB (1/2) 1. Rationale of CB Increase Shareholders' Value with Business Expansion and Growth • • Details The Group has secured a public-private-partnership project with a total amount of RMB114.75 million in Bazhou city, Hebei Province, China for the design, construction and operation of a 120 tons/day sludge treatment plant and the recycling of the treated sludge into bricks for a concessionary period of 30 years. The Group has also acquired a 70% stake in the capital of Zhejiang Bofeng Environmental Technology Co., and will utilise the Group's own proprietary technology patents to provide oil sludge treatments to key customers, including the China National Offshore Oil Corporation. The Company intends to use majority of proceeds raised to secure more sludge treatment projects and Al water management projects. The sludge treatment projects are expected to generate one-off engineering, procurement and construction (EPC) income during the construction of the projects, and upon completion, generate recurring income for the Group over the lifespan of the projects, which is generally between 25 to 30 years. The Al water management projects are expected to generate recurring income for the Group during the contract period, which is generally between five to ten years. Assuming these projects are successful, they will be EPS accretive and value accretive to the Group. 10#11Merits of CB (2/2) Rationale of CB 2. 3. Details Capital Raised at a Premium to Prevailing Market Price The Conversion Price of S$0.10 represents an attractive premium of 73.9%, 88.7%, 78.6%, 53.6% and 44.1% over the Volume Weighted Average Price (VWAP) for trades done in 7 Oct 20221, last 1M, 3M, 6M and 12M respectively. InnoVision Capital's Expertise, Network, Support and Value-Add to Group's Continued Development and Success • InnoVision Capital and its team are experienced, have proven track record, and possess deep knowledge in green economy space in Asia. They will add value to the Group in terms of operational management expertise and strategic network, as well as in corporate governance and best-in-class internal processes, to support the Group's continued development and success. Note: 1) Full market day prior to the date on which the Investment Agreement was signed 11#12About InnoVision Capital#13InnoVision Capital has strong credentials and experienced management team INNOVISION CAPITAL 知一投资 Our Mission Our Vision Make the World a Better Place through Our Investments Establish a Top-Class Investment Organization Our Value Customer Success, Radical Truth, Embrace Changes, Team Work • Background Founded in 2016, InnoVision Capital is broadly recognised as an institutionalised Asian / PRC Private Equity 3.0 manager with strong and proven track record. As one of the successful early movers in ESG investing in pan-Asia, InnoVision Capital has been focusing on investing in the green energy / climate impact and ESG / sustainability sectors extensively. InnoVision Capital has since accumulated deep domain knowledge, outstanding deal sourcing network, strong industry resources and long- term proven track record investing in the green energy / climate impact and ESG / sustainability sectors, and is well positioned to capitalise on the global push for green economy. Lane Fu Zhao Founder & CEO Bachelor in Mathematics and Physics from Tsinghua University with First Class Honours Performance InnoVision Capital's total asset under management approximates RMB16bn, including a co-general partner fund with Guizhou Railway Investment Group. InnoVision Capital has to date invested in, amongst others, companies such as Beike (NYSE: BEKE), JD Logistics (SEHK: 02618), China Securities Co., Ltd (SEHK: 06066, SHSE: 601066), WuXi AppTec (SHSE 603259, SEHK 02359), Lvkon, Eswin, Vtown, Channel Soft, Neurophth, CATUG, iCamuno and Butel. Since inception, InnoVision Capital has had a number of successful IPOS and exits and generated consistently top quartile returns for all the funds currently under management. Key credentials of founder 19-year veteran in the private equity industry, with the last ten years prior to InnoVision Capital spent at KKR as one of the founding members of the Asia / PRC business from 2006 to 2016, and was responsible for KKR's investments in green energy / climate impact, ESG and consumer sectors in Asia / PRC. Prior to founding InnoVision Capital, Mr. Zhao has led and played a significant role in numerous successful deals, such as United Envirotech Ltd, Far East Horizon Limited, China Modern Dairy Holdings Ltd, Ping An Insurance Company of China, Ltd., China Mengniu Dairy Company Limited, China International Capital Corporation, and Belle International Holdings Limited. In 2011, during his time at KKR, Mr. Zhao led KKR's first ESG investment in Asia to invest into SGX-ST Main Board listed United Envirotech Ltd, of which Dr Lin Yucheng ("Dr Lin"), the Company's current Executive Chairman, had founded. United Envirotech Ltd was subsequently acquired by CITIC Environment (International) Company and consortium in 2015 at an implied market capitalisation of approximately S$1.9bn and was renamed CITIC Envirotech Ltd, and was eventually privatised by the CITIC Group in 2020. 13#14Appendices#15Appendix A: Shareholdings Shareholder As at the date of this Presentation Immediately upon issue of 214,260,000 Conversion Shares pursuant to full conversion of the Bonds Direct Interest Deemed Interest Direct Interest Deemed Interest No. of Shares %1 No. of Shares %1 No. of Shares %2 No. of Shares %2 Directors Dr Lin Yucheng 414,779,500 27.02 Ngoo Lin Fong 18,717,000 1.22 Lim Kuan Meng Mak Yen-Chen Andrew 414,779,500 23.71 18,717,000 1.07 Lee Suan Hiang³ 5,000,000 0.33 3,000,000 0.20 5,000,000 0.29 3,000,000 0.17 Substantial Shareholder (other than Directors) Pan Shuhong4 165,000,000 10.75 3,199,000 0.21 165,000,000 9.43 3,199,000 0.18 InnoVision Pomelo LP 214,260,000 12.25 Notes: 1) Based on the issued share capital of the Company, comprising 1,534,878,360 Shares (excluding treasury shares and there being no subsidiary holdings) as at the date of this Presentation. 2) Based on the enlarged Share capital of the Company, comprising 1,749,138,360 Shares (excluding treasury shares and subsidiary holdings) after the full conversion of the Bonds. 3) Lee Suan Hiang is deemed to have an interest in 3,000,000 Shares held through his nominee, DBS Nominees Pte. Ltd. 4) Pan Shuhong is deemed to be interested in 3,199,000 Shares held through her nominee, OCBC Securities Private Limited. 15#16Appendix B: Business Highlights (1/9) Company Proprietary Technologies KEY ENVIRONMENTAL CONCERNS ? Sludge is a by-product of wastewater treatment process Traditional sludge treatment-to-landfill disposal method leads to secondary pollution Huge shortage of landfill sites in China and globally In China, >60 million MT of sludge was produced in 2020* Rising wastewater discharge standards in China Our Treatment-as-a-Service Sludge Treatment Technologies Al Water Technologies 9 patented technologies to breakdown sludge treatment particles This reduces the total sludge treatment mass Optimum Heat & Pressure Dehydration 历史数据 运行参数 水质数据 拟合比对 | 清洗输出 算法模型 前馈输出 断面数据 智能取样检测在线仪表系统 数据仿真校准虚拟仪表 后馈优化 全流程可视 全断面可控 全参数可预测 稳定达标排放 后馈优化 智能专家诊断 智能优化 操作指令 结果输出 优化运营 预测结果 推荐参数 实时调整运行操作 节能减耗和碳减排 Untreated Sludge Lysis Solution (>80% H2O) Treated Sludge (<40% H2O) о Treated Sludge can be incinerated to generate energy By-product of treated sludge treatment can be recycled to produce building materials etc. Through the application of the technologies: Average accuracy of water quality prediction will be over 90% Energy consumption will be reduced by 10- 35%, and drug consumption is reduced by 10- 70% Overall process visibility and precision management Source: Intelligence Research Company (2019), 污水处理行业, 市场运营态势及投资前景评估报告, Special report on AlWater technology 智能水务技 术专项报告(2022) 16#17Appendix B: Business Highlights (2/9) Company Highlights Transforming into a Green High-Tech Environmental Treatment-as-a-Service Provider 00 Proven Leadership & Execution Track Record in the Environmental Sector Capabilities to solve the Pressing Sludge Problems in China • Under leadership of Dr. Lin Yucheng, a well-regarded authority on the environmental sector with >30 years of business experience Founder and former-CEO of CITIC Envirotech (formerly known as United Envirotech Ltd) ("CEL") for 13 years United Envirotech Ltd transformed into a vertically-integrated waste- water solutions provider and was divested to CITIC at valuation of SGD1.9 billion Served as adviser to Singapore government on the environment and water industry Experience in completing environmental protection projects in China In China, >60 million MT of sludge treatment was produced in 2020. China's sludge treatment treatment market has exceeded RMB50 billion since 2017 and is forecasted to increase at a rate of 10% p.a.* Sludge treatment is expected to be a multi-billion nascent industry in China since 2017 Local governments recognise of the sludge treatment problems and willing to pay for sludge treatment treatment solutions The Company have the proven and effective sludge treatment treatment technologies to solve sludge treatment-related problems Source: Intelligence Research Company (2019), 污水处理行业, 市场运营态势及投资前景评估报告 17#18Appendix B: Business Highlights (3/9) Company Core Business - Treatment-as-a-Service Sludge Treatment Supply integrated sludge treatment solutions for municipal and industrial sludge treatment using proprietary our technologies Innovative sludge treatment, pre-treatment and efficient energy recovery system to achieve the objectives of zero-waste discharge and resource recovery • Al Water Treatment Artificial intelligence algorithm and machine learning applied in the actual operations during wastewater treatment to predict the water quality of key sections of the process Real-time closed-loop workflow will increase controllability and predictability for optimal results and ability for quick response operation risks to Greentech Investments Equity investments in start-ups in technologies, high-tech products & services for environment protection 18#19Appendix B: Board of Directors (4/9) Board of Directors Dr Lin Yucheng Executive Chairman • • Dr Lin has founded and invested in a variety of environment-related businesses space for the last 30 year. He is also a Environmental, Health and Safety ("EHS") consultant whom is one of the pioneers in applying Membrane Bioreactor (MBR) technology for treating chemical and petrochemical wastewater in China. He has advised the Singapore government on environment and water topics and was awarded received an award by the Chinese Central Party Academy in 2010. • Mr Ngoo Lin Fong Executive Director • Mr Ngoo is responsible for the strategic financial planning, investments, mergers & acquisitions and fund raising for the Group. Mr Ngoo was previously the Chief Financial Officer ("CFO") of CITIC Envirotech Ltd and prior to that, he was the Audit Manager at Deloitte & Touche LLP. He has more than 25 years of financial and accounting experience. Mr Lim Kuan Meng . Lead Independent Non-Executive Director Mr Lim Kuan Meng is currently the Managing Partner of 2 practices where he manages a number of clients whose businesses include wastewater treatment. • Mr Lim was previously admitted as a Partner in Deloitte & Touche LLP where he overlooked some of the most reputable listed companies on the SGX. • Mr Lim is also an independent non- executive director of Triyards Holdings Ltd and have sat on the board of Falcon Energy Group. 19#20Appendix B: Board of Directors (5/9) Board of Directors Mr Mak Yen-Chen Andrew Independent Non-Executive Director • • Mr Andrew Mak is a practising lawyer with more than 26 years of experience in legal practice with focuses on corporate finance transactions. He is currently a consultant with Fortis Law Corporation and an independent director of Falcon Energy Group Limited and Far East Group Limited. He is also a member of the Advisory Board of Executives' Global Network (Singapore), as well as a board member of The Singapore Lyric Opera Limited. Mr Mak was awarded the Public Service Medal (PBM) by the President of Singapore in the 2012 Singapore National Day honours list. Mr Lee Suan Hiang Independent Non-Executive Director • • Mr Lee Suan Hiang had a varied career in both the public and private sectors, as Deputy Managing Director of the Economic Development Board and Chief Executive of SPRING Singapore. He was also Chairman of PSB Corporation, President of EDB Society and Deputy Chairman of the International Federation of Arts Councils. He has received a number of awards including the National Day Public Administration Gold Medal in 1998 and Public Service Medal in 2019, World Academy of Productivity Science Fellowship Award in 2000, World SME Association Award in 2001, Japan External Trade Organisation Award in 2002. 20 20#21Appendix B: Management (6/9) Management • Mr Li Li CEO Mr Li Li was appointed as Chief Executive Officer ("CEO") on 1 Sep 2021. He is responsible for the strategic planning, operations, engineering solution and business development of the Group. He was involved in various membrane-based industrial wastewater treatment projects in sludge treatment and hazardous waste treatment in the past 30 years and has received many prestigious awards for his contribution. For the past decade, he served as a Senior Deputy CEO of CITIC Envirotech Ltd. Dr Yan Huaiguo Chief Technology Officer . . Dr Yan Huaiguo is responsible for engineering design and implementation for projects, as well as technology applications. Dr Yan with his expertise in sludge treatment treatment, membrane- based industrial wastewater treatment has won numerous national and provincial excellent design awards. Having led in major projects with outstanding results, Dr Yan gained media coverage in China for his achievements in upgrading and expanding treatment technology. with wastewater innovative Dr Guo Chenghong Deputy CTO . • Dr Guo Chenghong joined the Company as Deputy Chief Technology Officer ("CTO") in August 2020. He is currently responsible for technology development and application. He is specialist with more than 14 years of experience in sludge treatment, wastewater and solid waste treatment. • He has successively published numerous international patents on sludge anaerobic treatment treatment in China. 21#22Appendix B: Management (7/9) Management Mr Lim Poh Yeow • CFO . Mr Lim Poh Yeow joined the Company in May 2008 as Group Chief Financial Officer ("CFO") where he oversees the Group's financial reporting, tax, regulatory compliance and corporate secretarial matters. He has more than 17 years of experience in finance and accounting with prior experience working as an auditor in Ernst & Young LLP, an accountant at Arrow Asia Pac Ltd, a company in the semi-conductor industry. He was a financial controller and CFO in Sinogas Holdings Pte Ltd and Xinde Food Holdings Pte Ltd respectively, assisting both companies in their listing applications. . Mr Shi Yingjun • Deputy General Manager Mr Shi Yingjun provides technological support for projects, overseeing the implementation and overall operations. With his vast knowledge and experience in municipal sludge treatment treatment and solid waste management, Mr Shi is also directly involved in developing sludge treatment CTH technology which can achieve significant energy saving, reduction in consumption and carbon emission in line with the global focus of carbon neutralization. 22 22#23Appendix B: Management (8/9) Management • • Mr Guo Haijun General Manager, Sales & Operations Mr Guo Haijun oversees the Business Development and Marketing function. He has almost 20 years' experience in the environmental protection industry and his expertise is in wastewater treatment, municipal sludge treatment and hazardous waste management and advance membrane technology. In his previous employment, Mr Guo has directed wastewater treatment projects for major China petrochemical companies and many domestic chemical parks in his previous engagement. As the Deputy General Manager, he successively led his team to clinch major projects for the company. 23#24Appendix B: Appointment Highlight (9/9) Ms Pan Shuhong will be appointed as a non-independent and non-executive Director and Deputy Chairwoman of the Board within 6 months from the First Bonds Closing • Pan Shuhong • Ms Pan's field of expertise includes specialisation in electrochemistry and water treatment using advanced membrane technology. Ms Pan has prior extensive experience as a director or executive officer of an issuer listed on the SGX-ST, having presided over the board of directors of Mainboard-listed Memstar Technology Ltd as its executive chairwoman from 2007 to 2014 and as non-executive chairwoman thereafter until its delisting in 2020, as well as served as the Group Chief Operating Officer of CITIC Envirotech between 2014 and 2019. 24 24#25Thank You