The board of directors of WLS Holdings Limited announced that on 8 February 2023, the Company entered into a strategic cooperation agreement with Hong Bao Hui International Holdings Limited. According to the Strategic Cooperation Agreement, both parties have tentatively agreed that the Company and Hong Bao Hui International Holdings Limited, together with its subsidiaries, will jointly develop or adopt other forms of cooperation to establish special asset disposal and set up channels for agents, and fully penetrate into the mainland market for special assets and create a brand for promotion system tool in consumption; fully expand the mainland market through the Hong Bao Hui general business system at an appropriate time. Both parties will develop a comprehensive strategic cooperation based on the principle of long-term strategic cooperation, including but not limited to equity investment, debt investment and other investments.

Both parties will continue to expand the scope of cooperation according to market conditions and may hold senior management meetings from time to time to discuss the mode, direction and progress of the cooperation and other matters relating to the cooperation projects. Reasons For Entering Into The Strategic Cooperation Agreement: Under the framework of the Strategic Cooperation Agreement, the Company and Hong Bao Hui International will strengthen the exchange and collaboration in various aspects such as business opportunities and market information for mutual complementary and sharing purposes. Both parties will work closely with each other in the areas of the development of special asset optimisation in an active manner.