Natural Cool Holdings Limited has incorporated a wholly-owned subsidiary to acquire 51.0% of the shares in the capital of iFocus Pte Ltd. for the purposes of the Proposed Acquisition. The details of the subsidiary are as follows: Name: Futura Innovation Pte. Ltd. (Futura Innovation).

Place of Incorporation: Singapore. Registered Capital: SGD 2.00. Shareholding Interest: 100%.

Principal Activities: Provision of electronics-related industrial design services and development of software and applications. The incorporation of Futura Innovation was funded through internal resources and is not expected to have any material impact on the net tangible assets per share and earnings per share of the Group for the current financial year ending 31 December 2022.