Detailed Information for Shareholders

The Board of Raffles Education Limited confirmed in its latest announcement that the company continues to execute its strategy to strengthen its balance sheet via debt financing. On 10 December 2025, the company completed the placement of S\$1,000,000 in principal amount of unlisted, non-convertible bonds to Ng San Tiong, identified as the Fourth Tranche Subscriber.

With this transaction, the company has now cumulatively issued S\$4,000,000 in bonds to four separate subscribers. This is a significant milestone, representing 40% of the total proposed bond issue of S\$10,000,000. Previous tranches were successfully placed with three other subscribers.

The bond issuance is part of a broader capital-raising exercise, which was first announced in June 2025 and has seen several rounds of subscriptions throughout the year. The company has committed to keeping shareholders updated on further material developments regarding the remainder of the bond program.

Price Sensitive Factors & Implications for Shareholders

• Financing and Liquidity: The successful completion of multiple tranches suggests continued investor confidence in the company and its creditworthiness. The influx of funds may enhance liquidity and enable Raffles Education Limited to pursue growth initiatives, meet debt obligations, or finance operational needs.
• Potential Impact on Share Price: The increase in debt may affect the company’s financial leverage, and investors should consider the implications for future profitability and risk. Any further material announcements regarding the remaining S\$6,000,000 of bonds could impact market perception and share price.
• Investor Advisory: Shareholders are advised to exercise caution when trading the company’s shares and to seek professional advice before making investment decisions. The company specifically notes that investors should refrain from actions that may be prejudicial to their interests and to consult their stockbrokers for guidance.

Next Steps & Shareholder Guidance

Raffles Education Limited will continue to update shareholders as further tranches are issued or if there are any material developments in relation to the bond program. The company’s proactive approach to transparency emphasizes its commitment to investor communications during this capital-raising period.

Shareholders are encouraged to monitor company announcements closely and to approach investment decisions with due diligence, especially in light of ongoing financing activities.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Shareholders and investors are strongly encouraged to carry out their own research and consult qualified financial advisors before making any investment decisions relating to Raffles Education Limited. The information provided is based on company disclosures as of 11 December 2025 and may be subject to change.

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