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 2020

The Board of Directors (the "Board") of Best World International Limited (the "Company" and together with its subsidiaries, the "Group") refers to the Company's announcements dated:

1. 6 April 2021, 21 April 2021, 15 May 2021 and 16 August 2021 in relation to the Company's applications to SGX RegCo and ACRA for an extension of time to hold the annual general meeting ("AGM") for the financial year ended 31 December 2020 ("FY2020"); and
2. 10 August 2021 and 25 August 2021 in relation to the Company's application to SGX RegCo for an extension of time to 22 September 2021 for the Company to announce the Group's unaudited financial statements for the six (6) months ended 30 June 2021 (the "2Q 2021 Further Extension"),

(collectively, the "Previous Announcements"). Unless otherwise defined, all capitalised terms used herein shall bear the meanings ascribed to them in the Previous Announcements.

Waiver

The Company is pleased to announce that based on the Company's submissions and representations to SGX RegCo, SGX RegCo has on 30 August 2021 informed the Company that it has no objection to the Company's application for an extension of time to 30 September 2021to convene the FY2020 AGM (the "Waiver") with regard to compliance with Rule 707(1) of the Listing Manual, subject to the following:

1. the Company announcing the Waiver granted, the reasons for seeking the Waiver, the conditions as required under Rule 107 of the Listing Manual and if the Waiver conditions have been satisfied. If the Waiver conditions have not been met on the date of the announcement, the Company must make an update announcement when the conditions have all been met; and
2. the Company convening the FY2020 AGM by 30 September 2021.

Shareholders should note that the Waiver will not be effective if any of the conditions have not been fulfilled. Following the disclosures in the Company's announcements dated 16 August 2021 and 25 August 2021 and this announcement, the Company has complied with the requirement in condition (a) of the Waiver to announce the Waiver, the reasons for seeking the Waiver and the conditions of the Waiver. The Company will make an update announcement when the conditions of the Waiver have all been met.

Application to ACRA

The Company will make the necessary application to ACRA for the corresponding extension of time to hold the FY2020 AGM under Section 175(2) of 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 2Q 2021 Further 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 Waiver, the FY2020 AGM and the 2Q 2021 Further Extension.

BY ORDER OF THE BOARD

Huang Ban Chin

Director and Chief Operating Officer

30 August 2021