Combine Will International Holdings Limited announced that the Company has incorporated the following subsidiaries to undertake its investment holding, trading as well as research and development, design and engineering activities during the financial year ended 31 December 2023: Name: PT Combine Will Investama Indonesia. Place of Incorporation: Indonesia. Share Capital: Incorporated with share capital of IDR 10,500,000,000.

Percentage of Shareholding: The Company, through its wholly-owned subsidiary Combine Will Investment Limited, indirectly owns 99% of the shareholding interest in PT Combine Will Investama Indonesia. The balance 1% is held by Ms. Valentina Belline Gunawan, the director of PT Combine Will Investama Indonesia and PT Combine Will Industrial Indonesia. Principal Activities: To undertake investment holding activities in Indonesia.

Name: Lianmei Toys Manufacturing Company Limited. Place of Incorporation: Hong Kong. Share Capital: Incorporated with an initial ordinary share capital of HKD 500,000 on 21 February 2023 with an increase of the share capital to HKD 35,000,000 through a new share issue and allotment on 25 July 2023.

Percentage of Shareholding: At incorporation, the Company indirectly owned, through its wholly-owned subsidiary Combine Will Investment Limited ("CWIL"), 100% of the shareholding interest in Lianmei Toys. As at the date of this announcement, the Company indirectly owns, through its wholly-owned subsidiary CWIL, 70% of the shareholding interest in Lianmei Toys. Principal Activities: To undertake trading and manufacturing plush toys activities.