Waiver :: Application For Extension Of Time To Comply With Rule 707(1) Of The Listing Manual

BEST WORLD INTERNATIONAL LIMITED

Company Registration No. 199006030Z

APPLICATION FOR EXTENSION OF TIME TO COMPLY WITH RULE 707(1) OF THE LISTING MANUAL TO HOLD THE ANNUAL GENERAL MEETING FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021

The Board of Directors (the "Board") of Best World International Limited (the "Company" and together with its subsidiaries, the "Group") has submitted an application to SGX RegCo for an extension of time from 29 April 2022 to 31 July 2022, for the Company to hold the annual general meeting ("AGM") by, for the financial year ended 31 December 2021 ("FY2021") in accordance with Rule 707(1) of the Listing Manual of the Singapore Exchange Securities Trading Limited (the "Listing Manual"), (the "Extension").

Basis for the Extension

The change of the Company's auditors to Nexia TS Public Accounting Corporation ("Nexia") was approved by the Company's shareholders ("Shareholders") during the Extraordinary General Meeting held by the Company on 31 December 2021 ("31 December 2021 EGM"). Accordingly, the audit work for FY2021 could only commence after the appointment of Nexia as the Company's auditors at the 31 December 2021 EGM. Nexia has informed the Company that they anticipate only being able to complete audit procedures and finalise the FY2021 audit work in or around May 2022. After factoring in discussions with the Company's audit committee and management, it is expected that the audited financial statements for FY2021 will be finalised in or around June 2022. Accordingly, the earliest practicable date that the documents for the AGM are expected to be ready for issuance to Shareholders is in or around June 2022, and the earliest practicable date that the AGM may be convened is in or around June or July 2022.

The Company will devote significant resources to assist Nexia to complete the FY2021 audit as quickly as possible and will provide Nexia with the information and documents required to finalise the FY2021 audit.

Application to ACRA

The Company will also make the necessary application to the Accounting and Corporate Regulatory Authority of Singapore ("ACRA") for the corresponding extension of time for the AGM under Section 175(2) of the Companies Act 1967 of Singapore (the "Companies Act") and to lodge its annual return under Section 197(1B) of the Companies Act.

Further Announcements

Shareholders should note that as at the date of this announcement, there is no certainty or assurance that the Extension will be granted by SGX RegCo. The Company will make further announcements to update Shareholders as and when there are material developments in relation to the Extension.

BY ORDER OF THE BOARD

Huang Ban Chin

Director and Chief Operating Officer

2 March 2022