Best World International : Minutes Of Annual General Meeting

BEST WORLD INTERNATIONAL LIMITED

(the "Company" or "BWIL")

(Company Registration No. 199006030Z)

(Incorporated in the Republic of Singapore)

MINUTES OF ANNUAL GENERAL MEETING

PLACE

• : Via "Live" webcast

  DATE

• : Friday, 26 February 2021

  TIME

• : 9.00 am

  PRESENT

• : Dr. Dora Hoan (Co-Chairman, Group CEO/ Managing Director) Dr. Doreen Tan (Co-Chairman, President);

  Mr. Huang Ban Chin (Executive Director and Chief Operating Officer) Mr. Lee Sen Choon (Chairman of Audit Committee and Lead Independent Director);

  In Attendance:

  Ms. Koh Hui, Senior Group Financial Controller

  Joined Meeting Virtually

  Mr. Adrian Chan (Chairman of Remuneration Committee Mr. Chester Fong (Chairman of Nominating Committee)

  ATTENDANCE

• : As set out in the attendance records maintained by the Company. (Due to the restriction on the use of personal data pursuant to the provisions of the Personal Data Protection Act 2012, the names of the shareholders present at the meeting will not be published in these minutes.)

  CHAIRMAN

• : Mr. Huang Ban Chin (Executive Director and Chief Operating Officer)

CHAIRMAN

The Board has appointed Mr. Huang Ban Chin, the Executive Director of the Company, as Chairman of the Annual General Meeting ("AGM").

The Chairman welcomed Shareholders to the Live Webcast AGM. He wished all shareholders a Happy New Year and apologised for the delayed Annual General Meeting for FY2019 due to the independent review and sincerely thanked the shareholders for their kind patience during this difficult period.

Due to the limit on the number of attendees imposed by the authorities, the other Directors namely Mr. Adrian Chan and Mr. Chester Fong who joined the meeting virtually and reported their attendance electronically.

QUORUM

As the Company Secretary has advised that a quorum was present in accordance with the Covid-19 Alternative Arrangements for Meetings Order, the Chairman declared the meeting open at 9.06 a.m.

BEST WORLD INTERNATIONAL LIMITED

Minutes of Annual General Meeting held on Friday, 26 February 2021

Page 2 of 7

OPENING ADDRESS

The Chairman introduced the Directors and Senior Group Financial Controller who were physically present in this Meeting as well as those directors who joined the meeting virtually:

• - Dr. Dora Hoan (Co-Chairman, Group CEO/ Managing Director);

• - Dr. Doreen Tan (Co-Chairman, President);

• - Mr. Lee Sen Choon (Chairman of Audit Committee and Lead Independent Director);

• - Mr. Adrian Chan (Chairman of Remuneration Committee);

• - Mr Chester Fong (Chairman of Nominating Committee); and

• - Ms. Koh Hui, Senior Group Financial Controller

QUESTIONS AND ANSWERS

The relevant questions received from shareholders have been substantially answered and will be posted on the SGXNET and the Company's corporate website on the same day. Should shareholders have further questions, they were invited to send in their questions via electronic mail [e-mail]

STATUS UPDATE ON TUAS MANUFACTURING FACILITY, SNAPSHOT OF THE CONSTRUCTION SITE AND A VIDEO CLIP ON THE BOTTLE FILLING LINE OF THE UPCOMING FACILITY

The Chairman took the opportunity to provide shareholders with a status update on the Tuas Manufacturing Facility and showed a snapshot of the construction site as at 23 February 2021 as well as an artist impression which is the final outlook of the manufacturing facility upon completion. A short video clip on the bottle filling line of the upcoming facility was also shown for shareholders' information.

NOTICE

The Notice convening the meeting was taken as read.

POLL VOTING

All resolutions at the Live Webcast AGM were voted by poll pursuant to the Company's Constitution and Listing Rule 730A(2) of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The poll voting procedures complied with the COVID-19 Alternative Arrangements for Meetings Order and as outlined in the Important Notice to Shareholders Announcement, the poll votes have been collected and the results were presented in the AGM Webcast

The Company has appointed Trusted Services Pte. Ltd. as polling agent and Tricor Evatthouse Corporate Services as Scrutineer for purpose of the poll voting. The proxies lodged have been checked by the polling agent and scrutineer.

BEST WORLD INTERNATIONAL LIMITED

Minutes of Annual General Meeting held on Friday, 26 February 2021

Page 3 of 7

CHAIRMAN APPOINTED AS PROXY

The Chairman of the AGM has been appointed as proxy by all shareholders in accordance with the COVID-19 Alternative Arrangements for Meetings Order.

BUSINESS OF AGM

The Chairman proceeded with the formal business of the Live Webcast AGM. All the resolutions and poll voting results were presented during the Live Webcast AGM.

ORDINARY BUSINESS:

RESOLUTION 1 - AUDITED FINANCIAL STATEMENTS AND AUDITOR'S REPORT

Resolution 1 as follows was taken as read:-

"That the Audited Financial Statements for the financial year ended 31 December 2019 and the Directors' Statement and Auditors' Report be received and adopted."

The Shareholders have cast their votes and with the voting results as shown below, the Chairman declared that Ordinary Resolution 1 was carried by majority:-

Ordinary Resolution	Total number of shares represented by votes for and against the relevant resolution	For	Against
Number of Shares	As a percentage of total number of votes for and against the resolution (%)	Number of Shares	As a percentage of total number of votes for and against the resolution (%)
1	374,990,685	322,651,760	86.04%	52,338,925	13.96%

RESOLUTION 2 - DIRECTORS' FEES FOR FINANCIAL YEAR ENDED 31 DECEMBER 2019

The Board had recommended the payment of the payment of Directors' fees of S$242,164 for the financial year ended 31 December 2019.

Resolution 2 as follows was taken as read:-

"That the payment of Directors' fees of S$242,164 for the financial year ended 31 December 2019 be approved."

The meeting was informed that all Directors who are entitled to the Directors' fees have accordingly abstained from voting on Resolution 2.

BEST WORLD INTERNATIONAL LIMITED

Minutes of Annual General Meeting held on Friday, 26 February 2021

Page 4 of 7

Ordinary Resolution	Total number of shares represented by votes for and against the relevant resolution	For	Against
Number of Shares	As a percentage of total number of votes for and against the resolution (%)	Number of Shares	As a percentage of total number of votes for and against the resolution (%)
2	375,659,074	375,641,074	100.00%	18,000	0.00%

RESOLUTION 3 - RE-ELECTION OF DR. DORA HOAN BENG MUI AS DIRECTOR

Article 93 of the Constitution of the Company provides for one-third of the Directors to retire by rotation at every Annual General Meeting. It was noted that the Directors who were to retire pursuant to Article 93 of the Company's Constitution were Dr. Dora Hoan Beng Mui and Mr. Adrian Chan Pengee.

Dr. Dr. Dora Hoan Beng Mui who was retiring under Article 93 of the Company's Constitution and being eligible for re-election, had consented to continue in office.

Resolution 3 as follows was taken as read:-

"That Dr. Dora Hoan Beng Mui retiring under Article 93 of the Company's Constitution be and is hereby re-elected as a Director of the Company."

The Shareholders have cast their votes and with the voting results as shown below, the Chairman declared that Ordinary Resolution 3 was carried by majority:-

Ordinary Resolution	Total number of shares represented by votes for and against the relevant resolution	For	Against
Number of Shares	As a percentage of total number of votes for and against the resolution (%)	Number of Shares	As a percentage of total number of votes for and against the resolution (%)
3	343,718,285	329,248,153	95.79%	14,470,132	4.21%

RESOLUTION 4 - RE-ELECTION OF MR. ADRIAN CHAN PENGEE AS DIRECTOR

Mr. Adrian Chan Pengee who was retiring under Article 93 of the Company's Constitution and being eligible for re-election, had consented to continue in office.

Resolution 4 as follows was taken as read:-

"That Mr. Adrian Chan Pengee retiring under Article 93 of the Company's Constitution be and is hereby re-elected as a Director of the Company."