The board of directors of Forise International Limited refers to the company's earlier announcements dated 22 March 2022 and 28 March 2022 in relation to its entry into a joint venture agreement with Raffles Emi Pte. Ltd., pursuant to which the Parties had agreed to establish a joint venture company (JV Company). Name of the JV Company: Raffles Neobank Solutions Pte.

Ltd. ("Raffles Neobank"). Country of incorporation: Singapore. Date of incorporation: 1 April 2022.

Issued and paid-up capital: SGD 100,000. Number of shares: 100,000 ordinary shares. The company's: 51,000 ordinary shares, representing 51.0% of the issued and paid-shareholding interests up share capital of Raffles Neobank.

Remi's shareholding: 49,000 ordinary shares, representing 49.0% of the issued and paid- interests up share capital of Raffles Neobank.