Further to the Company’s earlier announcements dated 13 August 2020, 17 August 2020 and 12 October 2020, the Board of Directors of WSC (“Board”) wishes to announce that the Ministry of International Trade and Industry (MITI) has via its letter dated 13 October 2020 approved the Proposed Disposal of 70% ordinary shareholdings in SPRL to LMHSB by STHT. The letter was received by SPRL on 16 October 2020.

In connection to the above, all the Conditions Precedent of the SPA dated 13 August 2020 executed between STHT and LMHSB have been satisfied. Hence, the parties have agreed that the SPA has become unconditional on the date of this announcement.

(For consistency, the abbreviations used throughout this announcement shall have the same meaning as defined in the announcements dated 13 August 2020, 17 August 2020 and 12 October 2020.)

This announcement is dated 19 October 2020.