General Announcement::UPDATE TO JOINT VENTURE AND SHAREHOLDERS AGREEMENT

MONEYMAX FINANCIAL SERVICES LTD.

(Company Registration No.200819689Z)

(Incorporated in the Republic of Singapore)

UPDATE TO JOINT VENTURE AND SHAREHOLDERS AGREEMENT ENTERED INTO BETWEEN

CASH ONLINE SDN BHD AND MR. CHONG MEI SANG

The board of directors ("Board") of MoneyMax Financial Services Ltd. (the "Company" and together with its subsidiaries, the "Group") refers to the Company's announcements dated 20 June 2014 and 24 January 2017 in relation to the joint venture and shareholders agreement ("JVA") and addendum to the JVA entered into between the Company's wholly-owned subsidiary, Cash Online Sdn Bhd ("COL"), and Mr. Chong Mei Sang ("Mr. Chong"). COL and Mr. Chong each hold a 51.0% and 49.0% shareholding interest respectively in certain entities carrying on the business of pawn broking in Malaysia ("JV Cos").

The Board wishes to inform shareholders that the Company was informed of Mr. Chong's passing on 6 October 2021.

As at the date of this announcement, the Board does not expect the Group's operations in Malaysia undertaken by the JV Cos to be affected by the passing of Mr. Chong. The Company will make further announcements to update shareholders should there be any material update in relation to this matter.

By Order of the Board

MoneyMax Financial Services Ltd.

Dato' Sri Dr. Lim Yong Guan

Executive Chairman and Chief Executive Officer

8 October 2021

This announcement has been prepared by the Company and has been reviewed by the Company's sponsor, United Overseas Bank Limited (the "Sponsor"), for compliance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST. 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 Mr Lim Hoon Khiat, Director, Equity Capital Markets, who can be contacted at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624, telephone: [phone].