(Company Registration No. 199904364E) "SERIES B CONVERTIBLE BONDS") CONVERTIBLE INTO ORDINARY SHARES OF EZION HOLDINGS LIMITED AMENDED SERIES 008 SUBORDINATED PERPETUAL SECURITIES (ISIN NO. SG6UH9000009) (THE "AMENDED SERIES 008 SECURITIES") CONVERTIBLE INTO ORDINARY SHARES OF EZION HOLDINGS LIMITED RESET OF CONVERSION PRICE TO REMAIN THE SAME AS S$0.2763 INTRODUCTION The board of directors ("Board") of Ezion Holdings Limited ("Ezion" or the "Company" and together with its subsidiaries, the "Group") refers to the announcements dated 7 February 2018, 12 March 2018, 6 April 2018, 7 April 2018, 13 April 2018, 24 April 2018, 30 May 2018, 13 June 2018, 1 October 2018, 13 October 2018, 12 April 2019, 11 October 2019, 9 April 2020, 12 October 2020 (the "Previous Announcements") and the circular dated 12 March 2018 (the "Circular") in relation to the Proposed Bonds Issue, the Proposed Warrants (2018- Shareholders) Issue, the Proposed Warrants (2018-Securityholders) Issue, the Proposed Series 008 Securities Conversion Shares Issue, the Proposed Interest Shares Issue, the Proposed Securityholders Consent Shares Issue, the Proposed Warrants (2018-Secured Lenders) Issue, the Proposed TLF Consent Shares Issue, the Proposed Warrants (2018- Unsecured Lenders) Issue, the Proposed Professional Fees Shares Issue, the Proposed Private Subscriber Option Shares Issue, and the notice of redemption of the Securities.