Updated Guidance Note on Accounting Standards for

1. Updated Guidance Note on Accounting Standards for Financial Statements SGX RegCo’s Guidance Notes ▪ On 4 May 2021, SGX provided its guidance note entitled, "Guidance Note on Accounting Standards for Financial Statements” on its expectation of the application of accounting standards for issuer’s interim/full year financial statements. ▪ Issuers are encouraged to refer to Financial Reporting Guidance 3 (“FRG 3”) and its illustrative financial statements that was issued (on 3 May 2021) by the Institute of Singapore Chartered Accountants (“ISCA”) when preparing their interim/full year financial statements.

ISCA’s FRG 3 and Illustrative Financial Statements ▪ On 3 May 2021, ISCA issued (i) FRG 3, and its (ii) illustrative financial statements, in view of Catalist Rule 705(3A) which takes effect for any interim financial period (i.e., the first, second or third quarters of the financial year) or financial year ending on or after 30 June 2021. (i) FRG 3. Aids the issuer in the preparation of their interim financial statements under SFRS(I) 1-34 and the Listing Rules., by providing the (1) Key requirements of SFRS(I) 1-34, (2) Key areas of focus, and (3) Complying with requirements of SFRS(I) and Listing Rule Appendix 7C. (1) Key requirements of SFRS(I) 1-34. (A) What is the basis of preparation for an interim financial statements under SFRS(I) 1-34? (B) Is the going concern assumption appropriate for the interim financial statements? (C) What are the key requirements in SFRS(I) 1-34 and its implications for issuers? An extract and summary is provided in Appendix 1. (2) Key areas of focus of SFRS(I) 1-34. (A) Appropriateness of significant judgements and estimates made. (B) Non-reversal of impairment loss on goodwill recognised in an interim period. (C) Estimation of weighted average annual income tax rate expected for the full year. An extract and summary is provided in Appendix 2. (3) Complying with requirements of SFRS(I) and Listing Rule Appendix 7C. An extract and summary is provided in Appendix 3.