HONG KONG SAR - Media OutReach - 23 March 2021 - GP Industries Limited ("GP Industries") is pleased to announce that its major wholly-owned subsidiary, GP Batteries International Limited ("GP Batteries") has earned Gold Zero Waste to Landfill (ZWTL) Validation from UL for its manufacturing facility located in Tebrau, Malaysia, making it the first plant in the country to earn gold level validation. The plant has achieved a 96% diversion rate with 4% thermal processing and energy recovery and it is the third GP Batteries plant in Malaysia to earn the ZWTL Validation. The achievement of UL ZWTL Validation for all plants in Malaysia represents yet another milestone for GP Batteries and its commitment to advance its sustainability performance.

In 2020, GP Batteries earned Silver ZWTL Validation for three facilities in the Asia Pacific region. Since then, it has continued to increase waste diversion in those plants, improving its year-over-year performance. GP Batteries' Tebrau plant is the first plant in Malaysia to earn the Gold ZWTL Validation, meeting the requirement of waste diversion levels of 95%�99%. Based on lessons learned during the waste diversion validation process that took place at their other plants, GP Batteries was able to implement best practices and process improvements at the Tebrau plant that helped increase waste diversion and achieve the gold level validation.

GP Batteries' project teams in Malaysia and China are dedicated to the Zero Waste To Landfill initiative and despite unique challenges in each location, GP Batteries has worked with UL to continue to advance its ZWTL efforts and hope more facilities can achieve the validation.

President of GP Batteries, Victor Chong commented, "Sustainability has always been one of our major focuses in developing products and manufacturing capabilities. The achievement of Gold Validation for our newest plant in Malaysia demonstrates our commitment in waste reduction. We are proud that our efforts have enabled us to achieve greater waste diversion rates thus further advancing our sustainability performance."

"GP Batteries' achievement of Gold ZWTL Validation for its newest plant in Malaysia, combined with its continued improvement of waste diversion performance in its other three plants, demonstrates its ongoing commitment to improving sustainability performance," said Doug Lockard, Vice President and General Manager, Retail and Consumer Products, UL.

About GP Industries

Listed in Singapore since 1995, GP Industries Limited ("GP Industries") is the main industrial investment vehicle of Gold Peak. It is an international manufacturing and marketing group comprising batteries and electronics businesses.

In addition to its investments in GP Batteries International Limited, GP Industries is also engaged in the development, manufacture and marketing of electronics and acoustics products. To learn more about the company, please visit GP Industries' website at www.gp-industries.com

About Gold Peak

Gold Peak Group is an Asian multinational group which owns high-quality industrial investments via GP Industries Limited, its major industrial investment vehicle. The Group has built renowned brand names for its major product categories, such as GP batteries, KEF premium consumer speakers and CELESTION professional speaker drivers.

The parent company, Gold Peak Industries (Holdings) Limited ("Gold Peak", stock code: 40), was established in 1964 and has been listed on the Stock Exchange of Hong Kong since 1984. Currently, Gold Peak holds an approximately 85.5%* interest in GP Industries which is publicly listed in Singapore.

Gold Peak Group has manufacturing, research and development, marketing and distribution operations in more than ten countries around the world.

To learn more about the company, please visit Gold Peak's website at www.goldpeak.com

( * shareholding % as at 23 March 2021)