News - Announcement Pursuant to Rule 706A of SGX Listing Manual

Singapore, 25 February 2022 – Pursuant to Rule 706A of the Listing Manual of the Singapore Exchange Securities Trading Limited, Singapore Technologies Engineering Ltd (“ST Engineering”) wishes to announce the following transactions that occurred during the financial period from 1 July 2021 to 31 December 2021.

(A) Incorporation

(i)

Name	ST Engineering Holdings GmbH
Country of Incorporation	Germany
Date of Incorporation	26 July 2021
Issued Capital	€26,000
Principal Activities	Investment Holding
Interest held by ST Engineering	Before - 0% After - 100%
Remark	Became a wholly-owned subsidiary of ST Engineering

(ii)

Name	Juniper Aviation Investments Pte. Ltd. (“JAI”)*
Country of Incorporation	Singapore
Date of Incorporation	20 July 2021
Issued Capital	US$7,400,002 (Ordinary shares – US$2; Redeemable Preference shares – US$7,400,000)
Principal Activities	Investment Holding
Interest held by ST Engineering	Before - 0% After - 50%
Remark	JAI became a joint venture of ST Engineering.

* Refer to ST Engineering’s announcement released on 4 August 2021

(iii)

Name	Juniper Aviation Holdings Limited (“JAH”)
Country of Incorporation	Cayman Islands
Date of Incorporation	5 August 2021
Issued Capital	US$3,000,001
Principal Activities	Investment Holding
Interest held by ST Engineering	Before - 0% After - 50%
Remark	JAH, a wholly-owned subsidiary of JAI which is in turn a joint venture of ST Engineering. JAH became an associated company of ST Engineering.

(iv)

Name	Juniper Aviation Capital Limited (“JAC”)
Country of Incorporation	Ireland
Date of Incorporation	19 October 2021
Issued Capital	US$1
Principal Activities	Provision of inter-company loans to associated aircraft leasing companies
Interest held by ST Engineering	Before - 0% After - 50%
Remark	JAH, a wholly-owned subsidiary of JAI which is in turn a joint venture of ST Engineering. JAH became an associated company of ST Engineering.

(v)

Name	ST Engineering URS, Inc.
Country of Incorporation	United States of America
Date of Incorporation	13 August 2021
Issued Capital	US$500,002
Principal Activities	Provision of Passenger Information Systems for rail systems
Interest held by ST Engineering	Before - 0% After - 100%
Remark	Became an indirect wholly-owned subsidiary of ST Engineering.

(vi)

Name	ST Engineering Urban Solutions USA, Inc.
Country of Incorporation	United States of America
Date of Incorporation	27 September 2021
Issued Capital	US$10
Principal Activities	Investment Holding Company
Interest held by ST Engineering	Before - 0% After - 100%
Remark	Became an indirect wholly-owned subsidiary of ST Engineering.

(vii)

Name	ST Engineering Chile SpA
Country of Incorporation	Chile
Date of Incorporation	6 October 2021
Issued Capital	Chilean pesos $1,215,000
Principal Activities	Specialises in the design, development and delivery of products, solutions and services for Smart City connectivity, integrated mobility and security
Interest held by ST Engineering	Before - 0% After - 100%
Remark	Became an indirect wholly-owned subsidiary of ST Engineering.

(viii)

Name	Capella 3 Leasing Limited
Country of Incorporation	Ireland
Date of Incorporation	13 October 2021
Issued Capital	US$1
Principal Activities	Aircraft Leasing
Interest held by ST Engineering	Before - 0% After - 100%
Remark	Became an indirect wholly-owned subsidiary of ST Engineering.

(ix)

Name	Capella 4 Leasing Limited
Country of Incorporation	Ireland
Date of Incorporation	16 November 2021
Issued Capital	US$1
Principal Activities	Aircraft Leasing
Interest held by ST Engineering	Before - 0% After - 100%
Remark	Became an indirect wholly-owned subsidiary of ST Engineering.

(x)

Name	InnoEdge Labs Pte. Ltd.
Country of Incorporation	Singapore
Date of Incorporation	24 November 2021
Issued Capital	S$2
Principal Activities	Conduct R&D in cyber domains for the provision of consultancy & services
Interest held by ST Engineering	Before - 0% After - 100%
Remark	Became an indirect wholly-owned subsidiary of ST Engineering.

(B) Acquisition

(i)

Name	Sicamb S.p.A. (“Sicamb”)
Country of Incorporation	Italy
Issued Capital	€14,849,986
Principal Activities	Manufacturing, repair and overhaul of ejection seats and aero structure components for military and civil aircraft
Date of Transfer	24 November 2021
Consideration	€1,999,981
Rationale	To strengthen the supply chain for its passenger-to-freighter business and enhance its manufacturing capabilities.
Interest held by ST Engineering	Before - 0% After – 23.25%
Remark	Became an associated company of ST Engineering.

(C) Amalgamation

(i)

Names of Entity	ST Engineering Aerospace Supplies Pte. Ltd. (“STASupplies”)
Date of Amalgamation	2 July 2021
Issued Capital	S$15,000,000
Principal Activities	Repair management and warehouse services for aircraft equipment, parts & components
Rationale	The exercise was a result of ongoing business reviews to streamline and synergise capabilities, and to consolidate resources within the Commercial Aerospace business.
Interest held by ST Engineering	Before – 100% After – 0%
Remark	STA Supplies was amalgamated with ST Engineering Aerospace Systems Pte. Ltd. (an indirect wholly-owned subsidiary of ST Engineering) with the latter being the surviving entity after the amalgamation.

(ii)

Name of Entity	Glowlink Communications Technology, Inc. (“Glowlink”)
Date of Merger	31 December 2021
Issued Capital	US$16,244,262
Principal Activities	Design, develop and market two-way spectral monitoring, geolocation, and interference mitigation technologies for international markets
Rationale	The exercise was a result of ongoing business reviews to streamline and synergise capabilities, and to consolidate resources within the Satellite Communications business area.
Interest held by ST Engineering	Before – 100% After – 0%
Remark	Glowlink, a California corporation and a wholly- owned subsidiary of iDirectGov, merged with and into iDirectGov, a Delaware limited liability company and a wholly-owned subsidiary of ST Engineering with iDirectGov being the surviving entity and the separate corporate existence of Glowlink ceasing to exist, in accordance with the laws of the State of Delaware and the laws of the State of California.

(D) Change in interest

(i)

Name	Keystone 1 Limited (“Keystone 1”)
Country of Incorporation	United Kingdom
Issued Capital	US$8,949,570
Principal Activities	Aircraft Leasing
Transaction	ST Engineering Aerospace Resources (Ireland) Limited, an indirect wholly-owned subsidiary of ST Engineering has sold the entire equity interest in the capital of Keystone 1 to JAH which is in turn a wholly-owned subsidiary of JAI, a joint venture of ST Engineering.
Date of Transfer	28 December 2021
Consideration	US$16,000,000
Rationale	The exercise was a result of ongoing business reviews to streamline and synergise capabilities.
Interest held by ST Engineering	Before – 100% After – 50%
Remark	Became an associated company of ST Engineering.

(E) Dissolution

(i)

Name	Keystone 3 Limited (“Keystone 3”)
Country of Incorporation	Ireland
Shareholder	Keystone Holdings (Global) Pte. Ltd., a joint venture of ST Engineering
Principal Activities	Aircraft leasing
Date of Dissolution	30 September 2021
Rationale	Ceased operation.
Interest held by ST Engineering	Before – 50% After – 0 %
Remark	Ceased to be an associated company of ST Engineering.

The above transactions do not have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

*****

For investor relations enquiries, please contact ir@stengg.com

Announcement Pursuant to Rule 706A of SGX Listing Manual

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