SINGAPORE - MetaOptics Ltd (the "Company" or "MetaOptics", and together with its subsidiaries, the "Group") announces that the Company is proposing to seek a dual listing of the Company on the NASDAQ stock exchange in New York, USA (the "Proposed NASDAQ Listing").

RATIONALE

MetaOptics believes that the Proposed NASDAQ Listing will provide an additional quoted platform for the securities of the Company to be traded via an established stock exchange in the USA. The Proposed NASDAQ Listing will also enable the Company to gain access to a diversified base of shareholders and investors comprising new institutional and private investors in the USA, which in turn may allow the Company greater flexibility to access the capital markets in the North America region to conduct fund raising and other strategic investment exercises (such as potential merger and acquisition opportunities should they arise from time to time). With a wider and more diversified shareholder base, the Company also hopes to improve the trading liquidity of its securities on its trading platforms.

MetaOptics further believes that the Proposed NASDAQ Listing presents an excellent opportunity to enable the Group to build up its metalens design and fabrication capabilities in the USA and to also position the Group in close proximity to potential key customers, to support the advancement of next-generation optical technologies across several sectors.

PREPARATORY WORK

The Company has appointed and/or is in the process of appointing the relevant professional advisers, including the lead underwriter, legal adviser and external auditor, in relation to the Proposed NASDAQ Listing. Preparatory work for the Proposed NASDAQ Listing is on-going and no application has been made to the NASDAQ or any regulatory authorities, including the US Securities and Exchange Commission ("SEC") or to the Singapore Exchange Securities Trading Limited ("SGX-ST").

CAUTIONARY STATEMENT

The Proposed NASDAQ Listing is at a preliminary stage, and it is subject to, inter alia, due diligence, approval from regulatory authorities, and prevailing market conditions. There is no certainty that the Proposed NASDAQ Listing will proceed or otherwise eventually materialise.

The Company shall continue to keep its shareholders updated as appropriate.