The Board of Directors ("Board") of Mencast Holdings Ltd. and together with its subsidiaries, the "Group") refers to the announcement dated 30 March 2023 in relation to the Company's joint investment with Mr. Gong Kun ("Mr. Gong") and Mr. Chen Xia ("Mr. Chen") and the incorporation of Menji International Pte. Ltd. ("Menji International") as a subsidiary of the Group (the "Announcement"). The Board wishes to announce that Menji International has incorporated a wholly-owned subsidiary in Singapore, details of which are as set out below: Name of subsidiary: Menji AM Tech Pte.

Ltd. ("Menji AM Tech"). Place of incorporation is Singapore and Date of incorporation is 23 June 2023.