The board of directors of Forise International Limited announced that the company incorporated the following wholly-owned subsidiary: Name of the Company: Forise International (M) Sdn Bhd. Country of incorporation: Malaysia. Issued and Paid-up capital: MYR 100,000.

Number of shares: 100,000 ordinary shares. Principal activities: Provision of innovative corporate advisory services including but not limited to strategic planning, business analysis, business development advisory, Artificial Intelligent and Blockchain related advisory, digital solutions advisory, corporate restructuring advisory, management consultancy and commercial factoring solutions advisory. The incorporation of the subsidiary was funded through the Company's 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 financial year ending 31 December 2022.