Investor Presentaiton

Executive 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

View entire presentation