Employee Stock Option/ Share Scheme::Proposed Share Option Scheme and Share Award Plan: Receipt of Approval In-Principle from the SGX-ST

Leader Environmental Technologies Limited

利德环保技术有限公司

(Incorporated in the Republic of Singapore on 15 August 2006)

(Company Registration Number: 200611799H)

PROPOSED ADOPTION OF THE LEADER ENVIRONMENTAL TECHNOLOGIES SHARE OPTION SCHEME AND THE LEADER ENVIRONMENTAL TECHNOLOGIES SHARE AWARD PLAN

• RECEIPT OF APPROVAL IN-PRINCIPLE FROM THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ("SGX-ST") FOR THE LISTING AND QUOTATION OF THE NEW SHARES TO BE ALLOTTED AND ISSUED THEREUNDER

1. INTRODUCTION

The Board of Directors (the "Board") of Leader Environmental Technologies Limited (the "Company") wishes to announce that the Company proposes to adopt:

1. a new share option scheme to be known as the Leader Environmental Technologies Share Option Scheme ("Scheme"); and
2. a new share award plan to be known as the Leader Environmental Technologies Share Award Plan ("Plan"),

subject to shareholders' approval being obtained at an extraordinary general meeting ("EGM") of the Company to be convened.

2. APPROVAL IN-PRINCIPLE BY THE SGX-ST

In view of the foregoing, the Company made an application to the SGX-ST for the listing and quotation of the new ordinary shares in the capital of the Company ("New Shares") to be allotted and issued pursuant to (i) the exercise of options under the Scheme, and (ii) vesting of awards under the Plan.

The Board is pleased to announce that on 26 November 2021, the Company has received in- principle approval from the SGX-ST for the listing and quotation of the New Shares to be allotted and issued pursuant to the foregoing on the Official List of the Main Board of the SGX-ST, subject to the following conditions:

1. compliance with the SGX-ST's listing requirements and guidelines;
2. independent shareholders' approval for the Scheme and the Plan; and
3. confirmation from the Company that:

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1. the Schemes are in compliance with Rules 843 to 861 of the Listing Manual of the SGX-ST (the "Listing Manual");
2. the Company will disclose by way of an immediate announcement after the general meeting, the details of parties who are required to abstain from voting on any resolution(s) under Rule 859 of the Listing Manual, including the number of shares held and the individual resolution(s) on which they are required to abstain from voting, pursuant to Rule 704(16)(b) of the Listing Manual;
3. all shareholders who are eligible to participate in the Scheme and the Plan have abstained from voting on all resolutions relating to the Scheme and the Plan; and
4. the terms of the Scheme and the Plan do not contravene any laws and regulations governing the Company and the articles of association of the Company.

In respect of condition (c) above, the Company will submit such confirmation to the SGX-ST in due course.

Shareholders should note that the SGX-ST'sin-principle approval is not to be taken as an indication of the merits of the Scheme and the Plan, the New Shares, the Company and/or its subsidiaries.

2. CIRCULAR

A circular to shareholders containing the full details of the Scheme and the Plan, together with the notice of extraordinary general meeting, will be issued to shareholders of the Company in due course.

BY ORDER OF THE BOARD

LEADER ENVIRONMENTAL TECHNOLOGIES LIMITED

Dr Lin Yucheng

Executive Chairman

29 November 2021

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