Wah Lee Industrial : The 2021 Shareholders' Annual Meeting Notice

Wah Lee Industrial Corp.

Notice of 2021 Annual General Shareholders' Meeting

1. The 2021 Annual General Shareholders' meeting of WAH LEE INDUSTRIAL CORP. (the Company) will be convened at 9:30 a.m., Friday, May 28, 2021 at #279, Liuhe 2nd Rd., Qianjin Dist., Kaohsiung City (1F, Forests Dynasty Room, Holiday Garden Hotel) Shareholder registration will begin at 9:00 am at the site of the shareholders' meeting.
2. Meeting Agenda:
3. 1. Reporting Items:
   1. 2020 Business Report.
   2. 2020 Audit Committee's Review Report.
   3. 2020 Distribution of Employees' Bonus and Remuneration to directors.
   4. 2020 Loan Endorsement and Guarantee.
   5. 2020 Lending Funds to Other Parties.
   6. 2020 Summary of Investments in Mainland China.

1. Acknowledged Items:

1. 2020 Business Report and Financial Statements.
2. 2020 Profit Distribution

(III) Discussion Items:

1. New share issuance for capital increase from capital surplus transfer
2. Amendments to "Articles of Incorporation"
3. Amendments of "Procedures of Assets Acquisition and Disposal"
4. Amendments of "Rules of Procedure for Shareholder Meetings"

(IV) Extemporary Motions

1. The board of directors of the Company proposes the content of dividend distribution for the Year 2020 as follows: (1) a cash dividend of NT$4.0 per share (NT$4.0 per share from earnings). (2) 4,627,803 new shares issued for capital increase from capital surplus. 20 shares are appropriated for every 1000 shares owned. Upon the approval of the Annual Meeting of Shareholders, it is proposed that the Board be authorized to resolve the ex-dividend date, ex-rights date, and other relevant issues. Upon the approval of the new share issuance for capital increase from the competent authority, it is proposed that the Board be authorized to resolve a record date. The shareholder rights and obligations of the new shares are the same as those of existing shares. The actual cash and stock payout ratio will be adjusted according to the number of actual floating shares on the ex-dividend date.
2. Other than summarized in the meeting notice, detailed information for the meeting agenda pursuant to Article 172 will be posted on Market Observation Post System (https://mops.twse.com.tw.) Please go to Basic Information/Electronic Data/ Annual Report & Shareholder Meeting Information (including Depository
   Receipt) after entering the Company's ticker and select Shareholder Meeting Information to view.
3. Pursuant to Article 165 under the Company Act, no entries in the shareholders' roster shall be altered within

the period of March 30, 2021 to May 28, 2021. For account opening (handing in the signature card), please contact to the Stock Affair Unit, Taishin International Bank.

1. For solicitation of proxies by shareholders, the Company will compile a summary statement of the Solicitor Solicitation Information and transmit it in an electronic file for disclosure by the SFI (https://free.sfi.org.tw) before April 27, 2021. The Stock Affair Unit, Taishin International Bank is the tallying and verification institution for the Company's proxies.
2. This meeting notice, with an attachment of a copy of Attendance Card and Proxy Form attached, is delivered for your attention and posted on Market Observation Post System. To attend the meeting in person, please affix a signature or stamp on Page 4, the Attendance Card, and present it at the meeting (please do not mail back). A "Proxy Form" shall be sent to the Stock Affair Unit, Taishin International Bank, five days before the meeting, if a proxy will attend for the shareholder, with the proxy's information filled and signatures or seals of the shareholder and the proxy.
3. The shareholder may cast electronic votes through the internet during the period from April 28, 2021 to May
   25, 2021. Please login to "eVote" site from Taiwan Depository & Clearing Corporation to exercise voting rights in accordance with the online instruction.【Web address: https://www.stockvote.com.tw】
4. Please bring identification documents for identity verification when necessary.
5. Thank you for your cooperation.

To

Our Shareholders

Sincerely Yours,

Board of Directors, Wah Lee Industrial Corp.