General Announcement::Investment Update - Non-Subscription of Additional Shares in Fully Holdings Pte. Ltd.

HEALTHWAY MEDICAL CORPORATION LIMITED

(Company Registration No.: 200708625C)

(Incorporated in the Republic of Singapore)

INVESTMENT UPDATE - NON-SUBSCRIPTION OF ADDITIONAL SHARES IN FULLY HOLDINGS PTE. LTD.

The Board of Directors (the "Board") of Healthway Medical Corporation Limited (the "Company" and together with its subsidiaries, the "Group") refers to the announcements dated 2 July 2019 and 27 October 2020 in relation to the Company's Subscription of Shares in Fully Holdings Pte. Ltd. ("Fully Holdings"), pursuant to which the following were announced:

1. the Company has subscribed for 2,000,000 ordinary shares of Fully Holdings, at the subscription price S$1.00 per share; and
2. the Company entered into a capital contribution agreement ("CCA") dated 27 October 2020 with Fully Holdings and BLoyalty Sdn. Bhd. ("BLSB"), pursuant to which Fully Holdings may give one or more call notices to each of the Company and BLSB to offer up to 2,255,639 ordinary shares of
   Fully Holdings (the "Called Shares") for subscription, at the subscription price of S$1.33 per share.

On 30 June 2021, the Company received a call notice from Fully Holdings to offer 2,255,639 Called Shares to the Company for subscription, at the subscription price of S$1.33 per share (the "Call Notice"). The Call Notice specified a period of 120 days within which the Company shall have the right but not the obligation to complete the proposed subscription of the Called Shares.

In relation to the Call Notice, after evaluating the investment opportunity and conducting a review of the Group's cash flow needs for working capital and acquisition opportunities, the Board has decided not to participate in the subscription of the 2,255,639 Called Shares at this juncture although this may lead to a possible dilution of its shareholding in Fully Holdings. The Group may consider further investments in Fully Holdings in the future should there be any change in the business prospects.

The above is not expected to have a material impact on the earnings per share and net asset value per share of the Group for the current financial year ending 31 December 2021.

BY ORDER OF THE BOARD

Chew Pei Tsing

Company Secretary

28 October 2021

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Foo Jien Jieng, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, [e-mail].