		Page
	Meeting Procedure 1
	Meeting Agenda 2
Report Items	3
	Ratification 5
	Discussion 6
	Election 9
Others	9
	Extraordinary Motions 9
Attachments
	I. Business Report of 2024 10
	II. 2024 Audit Committee's Review Report 13
	III. Report on the Implementation Status of the 2024 Sound Operation
	Plan 14
	IV. Independent Auditors' Report and Financial Statements (Including
	consolidated financial statements) of 2024 15
	V. Comparison Table of Amendments to the "Articles of
	Incorporation" of the Company 33
	VI. Comparison Table of Amendments to the"Operational Procedures
	for Loaning Funds to Others and Endorsement/Guarantee" 35
	VII. Evaluation Information on the Construction Project Contract to be

	Signed with the Related Party 37
	VIII. Evaluation Information on the Joint Construction Contracts to be
	Signed with the Related Party 42
	IX. List of Independent Director Candidates 44
	X. Table of lifting of non-competition restrictions of independent
	director candidates 45
Appendices
	I. Articles of Incorporation (Before Amendments) 46
	II. Operational Procedures for Loaning Funds to Others and
	Endorsements/Guarantees (Before Amendments) 53
	III. Regulations Governing the Election of Directors and Independent
	Directors 63
	IV. Rules of Procedure for Shareholders' Meeting 65
	V. Shareholding of Directors 75

Better Life Group Co., Ltd.

Procedure for the 2025 Annual Shareholders' Meeting

I. Call the Meeting to Order
II. Chairperson Remarks
III. Report Items
IV. Ratification
V. Discussion
VI. Election
VII. Others
VIII. Extraordinary Motions
IX. Adjournment

Better Life Group Co., Ltd. Meeting Agenda for the 2025 Annual Shareholders' Meeting

Time: 09:00 a.m. on Friday, June 27, 2025

Venue: 2F, No. 327, Sec. 1, Tiding Blvd., Neihu District, Taipei City (LILY Conference - Liren Hall) Meeting Type: Physical Shareholders Meeting

I. Call the Meeting to Order
II. Chairperson Remarks
III. Report Items
1. 2024 Business Report.
1. 2024 Audit Report by the Audit Committee.
1. 2024 Implementation of Sound Operation Plan Report.
1. 2024 Employee remuneration and Directors' remuneration distribution Report.
1. 2024 Report of Private Placement of Common Shares Status.
1. Report on 2024 Authorized Transactions with Related Parties.

IV. Ratification

1. 2024 Business Report and Financial Statement.
1. 2024 Annual Surplus Distribution Proposal.
V. Discussion
1. To amend the "Articles of Incorporation".
1. To amend the "Operational Procedures for Loaning Funds to Others and Endorsements/Guarantees".
1. Motion to Authorize for Construction Project Contracts to be Signed with the Related Party.
1. Motion to Authorize for Joint Construction Contract to be Signed with the Related Party.

VI. Election:

Proposal for the election of one additional independent director.

VII. Others:

Proposal of lifting the non-competition clauses of newly-elected directors.

VIII. Extraordinary Motions
IX. Adjournment

【Report Items】

I. 2024 Business Report.

Explanation: The 2024 Business Report is provided in Attachment I on pages 10 to 12 of this handbook.

II. 2024 Audit Report by the Audit Committee.

Explanation: The 2024 Audit Committee's Audit Report is provided in Attachment II on page 13 of this handbook.

III. 2024 Implementation of Sound Operation Plan Report.

Explanation: The Implementation Status of the 2024 Sound Operation Plan is provided in Attachment III on page 14 of this handbook.

IV. 2024 Employee remuneration and Directors' remuneration distribution Report.

Explanation: Pursuant to Article 30 of the Company's Articles of Incorporation, at least 4% of the current year's pre-tax net income, before deducting employee and director remuneration, shall be allocated as employee remuneration, and no more than 4% shall be allocated as director and supervisor remuneration. According to the Company's 2024 profitability, it is proposed to allocate 4% of the pre-tax net income, amounting to NT\$1,577,310, as employee remuneration, and NT\$0 as director remuneration. The remuneration will be distributed in cash.

V. 2024 Report of Private Placement of Common Shares Status.

Explanation: The Company's 2024 Annual Shareholders' Meeting approved a private placement of common shares within a limit of 50 million shares. As of May 2, 2025, the one-year period has expired without execution. The unexecuted portion will no longer be carried out.

VI. Report on 2024 Authorized Transactions with Related Parties.
Explanation: The following is a summary of the Company's transactions with related parties during the year, which the Company's Board of Directors has approved in the most recent Annual Shareholders' Meeting:
(I) Purchase of land held for construction site Executed

Estimated Transaction Counterparties	Nature	Case	Authorized Transaction Amount	Executed Transaction Amount
Puyuan Development Co.,Ltd.	Purchase of land held for construction site	Zhongyun Section (Note)	Not more than NT\$226,697 thousand	NT\$226,690 thousand

(Note 1) Refers to the purchase of a 1/2 land holding of construction land at Lot Nos. 187 and 190, Zhongyun Section, Zhongli District, Taoyuan City and jointly invested with them in the construction of this project.
(II) Execution of Construction and Joint Development Agreements Not Yet Executed

【Hwa Ya Section】The construction agreement and the joint development agreement for the 【Zhengyi Section】 in Zhongshan District, Taipei City have not yet been signed, as certain contract details remain to be confirmed or require adjustments.

【Ratification】

Proposal 1: proposed by the board of directors

Cause: 2024 Business Report and Financial Statements.

Explanation:

(I) The Company's 2024 parent company only financial statements and consolidated financial statements have been audited by CPA Pan, Chun-Ming and CPA Chen, Tsung-Che of KPMG Taiwan.
(II) For the business report, the independent auditors' audit reports and the aforesaid financial statements, please refer to Attachment I on pages 10-12 and Attachment IV on pages 15-32 of this handbook.

Resolution:

Proposal 2: proposed by the board of directors Cause: 2024 Annual Surplus Distribution Proposal.

Explanation:

(I) The Company's Annual Surplus Distribution Table for 2024 is as follows:

Better Life Group Co., Ltd. 2024 Annual Surplus Distribution Table

	Unit: NTD
Item	Amount
Undistributed earnings at the beginning of the period	(273,302,296)
Add: Net income before tax for the period	300,955,794
Less: Legal reserve	(2,765,350)
Undistributed earnings at the end of the period	24,888,148

Board Chairperson: Lin, Jui-Shan Manager: Huang, Wen-Cheng Accounting Manager: Huang, Wen-Cheng

(II) Considering the Company's operational plans and future capital requirements, no dividends are proposed for distribution.

Resolution:

【Discussion】

Proposal 1: Proposed by the board of directors Cause: To amend the "Articles of Incorporation". Explanation:

(1) In response to the Financial Supervisory Commission's announcement regarding Article 14, Paragraph 6 of the Securities and Exchange Act, the Company proposes to amend its Articles of Incorporation accordingly.
(II) For the comparison table of amendments, please refer to Attachment V on page 33 of this handbook.

Resolution:

Proposal 2: Proposed by the board of directors

Cause: To amend the "Operational Procedures for Loaning Funds to Others and Endorsements /Guarantees".

Explanation:

(I) To align with the Company's actual operations, it is proposed to amend certain provisions of the "Operational Procedures for Loaning Funds to Others and Endorsements/Guarantees."
(II) For the comparison table of amendments, please refer to Attachment VI on page 35 of this handbook.

Resolution:

Proposal 3: proposed by the board of directors

Cause: Motion to Authorize for Construction Project Contracts to be Signed with the Related Party.

Explanation:

(I) In accordance with Article 7 of the Company's "Regulations Governing the Acquisition and Disposal of Assets," it is proposed to the shareholders' meeting to authorize the Company to sign construction project contracts with the Company's related parties within the next year for the construction projects and transaction amounts listed in Explanation (II).

(II) The Company's proposed transaction counterparties, construction projects and estimated transaction amount are as follows. For relevant evaluation information, please refer to Attachment VII on pages 37- 41 of this handbook:

Unit: NT\$ thousand

Estimated Transaction	Construction	Estimated transaction
Counterparties	Projects	amount (tax included)
Pucheng Construction Co., Ltd.	Hwa Ya Section	(Note) 3,318,110
Pucheng Construction Co., Ltd.	Lixing Section	1,198,360
Pucheng Construction Co., Ltd.	Xinzhoumei Section	1,184,585
Pucheng Construction Co., Ltd.	Zhongyun Section	411,645
Pucheng Construction Co., Ltd.	Yong Jing Project	194,640

(Note) The amount originally proposed at the 2024 Annual Shareholders' Meeting was NT\$1,526,970 thousand. The amount has been revised due to design adjustments for this project.

(III)Upon resolution by the Shareholders' Meeting, the Chairman shall be authorized to handle subsequent contract signing and related matters in accordance with Explanation (II) above, to be completed within one year from the date of the resolution.

Resolution:

Proposal 4: Proposed by the board of directors

Cause: Motion to Authorize for Joint Construction Contract to be Signed with the Related

Party.

Explanation:

(I) This proposal was originally approved at the 2024 Annual Shareholders' Meeting, authorizing the Chairman to enter into a joint construction agreement with the related party, BAO MA ASSET DEVELOPMENT & MANAGEMENT CO., LTD. (as detailed in the table below). However, as the terms of the joint construction agreement between the parties have not yet been finalized, it is proposed that the authorization be extended for

an additional year. For related evaluation materials, please refer to Attachment VIII on page 42 of this handbook.

Proposed Transaction Counterparties	Nature	Case	Projected joint construction allocation conditions
BAO MA ASSET DEVELOPMENT & MANAGEMENT CO., LTD	Joint construction and allocation of housing units contract	Zhengyi Section (Note)	Allocation to landowners: 56.67% Allocation to the Company: 43.33%

(Note) This project is located in 1th subsection of Zhengyi Section, Zhongshan District, Taipei City. The planned development scope of this case has a base area of approximately 403.23 pings and approximately 15 landowners. Among them, five parcels of land including 706-1 and others (area of approximately 232.02 pings) are owned by the related party, BAO MA ASSET DEVELOPMENT & MANAGEMENT CO., LTD.

(II) Upon approval by the Shareholders' Meeting, it is proposed that the Chairman be authorized to handle subsequent matters related to contract execution in accordance with the above description, to be completed within one year from the date of the resolution.

Resolution:

[Election]

Proposed by the board of directors

Cause: Proposal for the election of one additional independent director. Explanation:

(I) To align with corporate governance and operational needs, it is proposed that one additional Independent Director be elected. In accordance with Article 17 of the Company's Articles of Incorporation, the candidate nomination system shall be adopted, and the Shareholders' Meeting shall elect from the list of nominated candidates. The term of the newly elected Independent Director shall commence on June 27, 2025, and end on June 20, 2026.
(II) For the list of Independent Director candidates, please refer to Attachment IX on page 44 of this handbook. For the Company's "Regulations Governing the Election of Directors and Independent Directors," please refer to Appendix III on page 63 of this handbook. (III) Please elect.

Results:

[Others]

Proposed by the board of directors

Cause: Proposal of lifting the non-competition clauses of newly-elected directors .

Explanation:

(I) Based on Article 209 of the Company Act, directors who act for themselves or others within the Company's business scope shall explain the major content of their actions to the shareholders' meeting and obtain the approval.
(II) Considering that the directors newly elected by the current Shareholders' Meeting may invest in and operate other companies with the same or similar business scope as the Company, which may cause competition. It is proposed that the Shareholders' Meeting approve lifting the non-compete clause in accordance with Article 209 of the Company Act. Please refer to Attachment X on page 45 of this handbook for the table of lifting of non-competition restrictions of independent director candidates.

Resolution:

【Extraordinary Motions】

【Adjournment】

Better Life Group Co., Ltd.

2024 Business Report

I. 2024 Operating Result

(I) 2024 Operating Result

The 2024 consolidated operating revenue of the Company is NT\$625,467 thousand, an increase of NT\$479,951 thousand from the last year's consolidated operating revenue of NT\$145,516 thousand. The 2024 parent-only operating revenue is NT\$621,276 thousand, an increase of NT\$481,655 thousand from the last year's parent-only operating revenue of NT\$139,621 thousand.

The 2024 consolidated comprehensive income (loss) for the year is at an income of NT\$303,827 thousand, and the consolidated net income for the period is NT\$300,956 thousand, and the earnings per share is NT\$2.96.

(II) Budget Implementation Status: Not applicable.
(III) Financial Revenue/Expenditure and Profitability Analysis

The consolidated financial revenue/expenditure and profitability analysis of the Company in the last two years are as follows:

Item	Year	2024	2023
	Net operating income	625,467	145,516
Financial revenue/expenditure	Gross profit	293,398	665
	Net profit (loss) for the period	300,956	(110,116)
	Return on assets (ROA) (%)	17.39	(6.37)
	Return on shareholders' equity (%)	30.77	(16.58)
	Operating income to paid-in capital ratio (%)	19.12	(5.18)
Profitability	Net income before tax to paid-in capital ratio (%)	29.64	(10.40)
	Net profit margin (%)	48.12	(75.67)
	Earnings per share (EPS) (NT\$)	2.96	(1.55)

Unit: In Thousand New Taiwan Dollars, %

(IV) Research and Development

To thoroughly understand the real estate market, the Company has actively collected various land and real estate market information, in order to plan and design the most quality product and to satisfy consumer demands. In addition, the Company also implements rigorous control on the construction quality, project progress and cost, in order to achieve both profit and quality at the same time.

II. 2025 Business Plan Overview

(I) Operational Directives

The Company will continue to uphold the philosophy of "Commitment, Style, Perfection" and establish professional team with extensive construction experience, in order to achieve the corporation mission of sustainable operation.

(II) Important Production and Sales Policies
" Song Yong" project, located in Xinyi District, Taipei City, it has been completed in the fourth quarter of 2024 and is progressively handed over.
" Pauian Pau-Garden" project,located in Songshan District,Taipei City, is currently under construction, it is expected to be completed and handed over in the third quarter of 2025, and will continue its pre-sale.
" Yong Jing Park" urban renewal project, located in Zhongshan District, Taipei City, is currently under the review of urban renewal business plan.
" Hwa Ya science park" project, located in Guishan District, Taoyuan City, Currently applying for construction license, it is expected to obtain the construction license and launch the project in 2025.
" Shitan Section" urban renewal project, located in Neihu District, Taipei City, the urban renewal project plan is currently under review.
" Zhongyun Section" project, located in Zhongli District, Taoyuan City, it is expected to obtain the construction license and launch the project in 2025.
" Lixing Section" project, located in Linkou District, New Taipei City, it is expected to obtain the construction license and launch the project in 2025.
" Xinzhoumei Section" project, located in Beitou District,Taipei City, it is expected to obtain the construction license and launch the project in 2025.
" Qingpu-Better Life Garden" project, 1 store unit will continue to be sold in 2025.
" Mountain in the Cloud" project, located in Huacheng area of Xindian District, New Taipei City, 3 villas will continue to be sold in 2025.
III. Impacts of External Competitive Environment, Legal Environment and Overall Operating Environment on Company's Future Development Strategy:
(I) Future Development Strategy:
- (1) Through in-depth study of individual project characteristics, the Company will focus on the construction quality and after-sale service, in order to enhance product differentiation and refinement, thereby achieving irreplaceability of products.
- (2) Strengthen the Company's brand value and competitiveness, in order to increase profit margin and to achieve maximum profit for the Company.
- (3) Cooperate with the asset revitalization policy of the Company along with the consideration of the industrial development trend, the Company will continue to evaluate the feasibility for investing in green energy industry.
(II) Analysis of Impacts of External Competitive Environment, Legal Environment and Overall Operating Environment:
- (1) In response to the government's promotion in urban renewal policy, the Company will continue to actively launch urban renewal projects.
- (2) Pay attention to industrial latest news, any changes to regulations and overall political and economic environment, and formulate the most appropriate course of action.
- (3) Focus on construction quality, enhance customer service, in order to improve customer satisfaction. In addition, the Company expects to establish quality brand image and provide high quality products in order to achieve win-win situation for both customers and the Company.

Chairman: Lin, Jui-Shan Managerial Officer: Huang, Wen-Cheng Accounting Officer: Huang, Wen-Cheng

Audit Committee's Review Report

The Board of Directors has prepared the Company's 2024 Parent Only and Consolidated Financial Statements (including Balance Sheets, Statements of Comprehensive Income, Statements of Changes in Equity and Statements of Cash Flows), which have been audited by KPMG Taiwan CPA Jiun-Ming Pan and CPA Tzung-Je Chen, and the audit report is hereby issued.The aforementioned Financial Statements, Business Report and Earnings Distribution Proposal have been reviewed and considered to be complied with relevant rules by the undersigned, the Audit Committee of the Company. Pursuant to Article 14-4 of the Securities and Exchange Act and Article 219 of the Company Act, we hereby submit this report for review.

To:

Better Life Group Co., Ltd.

2025 Annual General Shareholders' Meeting

Audit Committee

Convener: Huang, Kuo-Shih

March 5, 2025

Better Life Group Co., Ltd.

Description of the Implementation of Sound Operation Plan in 2024

Accounting Item		Actual number Estimated number	Difference	%	Analysis of Cause
Operating revenue	625,467	674,281	( 48,814)	-7.24%	It is mainly due to the fact that part of the income from housing selection and supplementation in the Song Yong project will be postponed to Q1 2024.
Operating costs	332,069	358,191	( 26,122)		-7.29% Same as above
Gross profit	293,398	316,090	( 22,692)		-7.18% Same as above
Profit margin	46.91%	46.88%	0.03%		0.07% The amount of the difference is small and will not be analyzed.
Operating expenses	92,669	82,136	10,533	12.82%	It is mainly due to the selling expenses of the Song Yong project and the difference in the estimate of the cost of employee subscription remuneration for cash capital increase.
Expense ratio	14.82%	12.18%	2.63%		21.63% Same as above
Net operating profit (loss)	200,729	233,954	( 33,225)		-14.20% Due to the influence of the above factors.
Operating profit ratio	32.09%	34.70%	-2.60%		-7.51% Due to the influence of the above factors.
Non-operating income	134,566	133,884	682		0.51% The amount of the difference is small and will not be analyzed.
Non-operating expenses	24,137	13,350	10,787	80.80%	It is mainly due to the recognition of fair value adjustment losses on Investment properties and the assets impairment loss of subsidiaries.
Net profit (loss) before income tax	311,158	354,488	( 43,330)		-12.22% Due to the influence of the above factors.
Income tax expense	10,202	4,475	5,727	NA	It is mainly due to the difference of estimate in the basic tax amount on the gain from the disposal of securities.
Net income after tax	300,956	350,013	( 49,057)		-14.02% Due to the influence of the above factors.
Net interest rate	48.12%	51.91%	-3.79%		-7.31% Due to the influence of the above factors.

Unit: In Thousand New Taiwan Dollars

Independent Auditors' Report

To Better Life Group Co., Ltd.,

Audit opinion

We have audited the accompanying balance sheets of Better Life Group Co., Ltd., (the "Company") for the years ended December 31, 2024 and 2023 and the relevant statements of comprehensive income, changes in equity and cash flows for the years then ended, and relevant notes, including a summary of significant accounting policies (collectively referred to as the "parent company only financial statements").

In our opinion, the accompanying parent company only financial statements present fairly, in all material respects, the financial position of the Company for the years ended December 31, 2024 and 2023, and its financial performance and cash flows for the years then ended in conformity with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.

Basis for the audit opinion

We conducted our audits in accordance with the Regulations Governing the Auditing and Attestation of Financial Statements by Certified Public Accountants and auditing standards of the Republic of China. Our responsibility under those standards are further described in the paragraph "Auditor's responsibilities for the audit of the parent company only financial statements". We are independent of the Company in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We are convinced that we have acquired enough and appropriate audit evidence to serve as the basis of audit opinion.

Key audit matters

Key audit matters refer to the most vital matters in our audit of the parent company only financial statements of the Company for the year ended December 31, 2024, based on our professional judgment. These matters were addressed in our audit of the parent company only financial statements as a whole, and in forming our audit opinion. We do not express a separate opinion on these matters. Key audit matters of the parent company only financial statements of the Company are stated as follows:

I. Inventory valuation

Please refer to Note 4 (7) "inventories" to parent company only financial statements for the accounting policy of the inventory values; please refer to Note 5 to the parent company only financial statements for the uncertainty of accounting estimates and assumptions for the inventory values; please refer to Note 6(5) to parent company only financial statements for details of inventories.

Description:

The Company's inventories are an important asset for operations, accounting for about 35% of its total assets; inventory values are handled in accordance with the International Accounting Standards (IAS) 2. As the net realizable value of the Company's inventory based on Management's estimates of future sales prices and construction costs are susceptible to political and economic circumstances. if the net realizable value is not properly appraised, the financial statements will be misstated. Therefore, the test of inventory values is one of our key audit matters during the audit of the Company's financial statements.

Audit procedures

The audit procedures we have implemented for the specific aspects described in the above-mentioned key audit matters include: Obtained the assessment data of the net realizable value of the Company's inventories and randomly examined the contracts related to property sold, referred to the latest property prices registered with the Ministry of the Interior or obtained the information on transactions of nearby property to evaluate the net realizable value of the property held for sale and the land for construction. In addition, for the net realizable value of the property under construction, obtained and randomly examined the Company's return of investment analysis, compared it with the market conditions, and obtained appraisal reports, if necessary, to evaluate whether the net realizable value of inventories was appropriate.

Responsibilities of the management and the governing bodies for the parent company only financial statements

The responsibilities of the management are to prepare the parent company only financial statements with fair presentation in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and to maintain necessary internal control associated with the preparation in order to ensure that the financial statements are free from material misstatement arising from fraud or error.

In preparing the parent company only financial statements, the management is responsible for assessing the ability of the Company in continuing as a going concern, disclosing relevant matters, and adopting the going concern basis of accounting unless the management intends to liquidate the Company or cease the operations without other viable alternatives.

The Company's governing bodies (including the Audit Committee) are responsible for supervising the financial reporting process.

Auditor's responsibilities for the audit of the parent company only financial statements

Our objectives are to obtain reasonable assurance on whether the parent company only financial statements as a whole are free from material misstatement arising from fraud or error and to issue an independent auditors' report. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with the auditing standards will always detect a material misstatement when it exists. Untruthful expressions might have been caused by frauds or errors. If the amounts of misstatements, either separately or in aggregate, could reasonably be expected to influence the economic decisions of the users of the parent company only financial statements, they are considered material.

We have utilized our professional judgment and professional doubt when performing the audit work in accordance with the auditing standards of the Republic of China. We also performed the following tasks:

1. Identified and assessed the risks of material misstatement arising from fraud or error within the parent company only financial statements; designed and executed countermeasures in response to said risks, and obtained sufficient and appropriate audit evidence to provide a basis for our opinion. Fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Therefore, the risk of not detecting a material misstatement resulting from fraud is higher than the one resulting from error.
1. Understood the internal control related to the audit in order to design appropriate audit procedures under the circumstances, while not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.
1. Evaluated the adequacy of accounting policies adopted by the management and the legitimacy of accounting estimates and related disclosures made.
1. Concluded on the appropriateness of the management's adoption of the going concern basis of accounting based on the audit evidence obtained and whether a material uncertainty exists for events or conditions that may cast significant doubt over the Company's ability to continue as a going concern. If we are of the opinion that a material uncertainty exists, we shall remind users of the parent company only financial statements to pay attention to relevant disclosures in said statements within our audit report. If such disclosures are inadequate, we need to modify our opinion. Conclusions made by the CPAs are based on the audit findings obtained as of the date of audit report. However, future events or conditions may cause the Company to cease to continue as a going concern.
1. Evaluated the overall presentation, structure, and content of the parent company only financial statements (including relevant notes), and whether the parent company only financial statements adequately present the relevant transactions and events.
1. Obtained sufficient and appropriate audit evidence concerning the financial information of investees using the equity method, to express an opinion on the parent company only financial statements. We were responsible for guiding, supervising, and performing the audit and forming an audit opinion about the Company.

The matters communicated between us and the governing bodies included the planned scope and times of the audit and material audit findings (including any material defects in internal control identified during the audit).

We also provided the governing bodies with a declaration that we have complied with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China regarding independence and communicated with them all relations and other matters that may possibly be regarded as detrimental to our independence (including relevant protective measures).

From the matters communicated with the governing bodies, we determined the key audit matters for the audit of the Company's parent company only financial statements for the year ended December 31, 2024. We have clearly indicated such matters in the auditors' report. Unless legal regulations prohibit the public disclosure of specific matters, or in extremely rare cases, where we decided not to communicate over specific items in the auditors' report for it could be reasonably anticipated that the negative effects of such disclosure would be greater than the public interest it brings forth.

KPMG Taiwan

PAN JIUN MING

CPA:

CHEN TZUNG JE

Competent Security Authority Approval Document No. March 5, 2025

: Jin-Guan-Zheng-Shen-Zi #1110333933 Jin-Guan-Zheng-Shen-Zi #1000011652

Notes to Readers

The accompanying parent company only financial statements are intended only to present the financial position, financial performance and cash flows in accordance with the accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to audit such parent company only financial statements are those generally accepted and applied in the Republic of China.

The independent auditors' audit report and the accompanying parent company only financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors' audit report and parent company only financial statements, the Chinese version shall prevail.

(English Translation of Balance Sheets Originally Issued in Chinese) Better Life Group Co., Ltd.

Balance Sheets

December 31, 2024 and 2023

Unit: In Thousand New Taiwan Dollars

		2024.12.31		2023.12.31
	ġ Assets	Amount	%	Amount	%
	Current assets:
1100	Cash and cash equivalents (Note 6(1))	\$ 668,600	32	160,449	11
1150	Notes receivable, net (Notes 6(4) and (19))	100,868	5	452	-
1170	Accounts receivable, net (Notes 6(4) and (19))	37,212	2	-	-
1320	Inventories (for construction industry) (Notes 6(5), 7, 8, and 9)	714,906	35	607,350	40
1410	Prepayments (Notes 6(6), 7, and 9)	205,652	10	30,081	2
1424	Excess business tax paid	-	-	17,147	1
1476	Other financial assets - current (Note 8)	31,447	2	129,041	9
1478	Construction deposits paid (Notes 7 and 9)	39,649	2	219,082	14
1480	Incremental cost of obtaining contracts - current (Note 7)	9,868	-	41,212	3
		1,808,202	88	1,204,814	80
	Non-current assets:
1510	Financial assets measured at fair value through profit or loss – non-current	424	-	73,343	5
	(Notes 6 (2) and (22) and 8)
1517	Financial assets measured at fair value through other comprehensive income –	22,540	1	19,718	1
	non-current (Notes 6(3) and (22))
1550	Investments using the equity method (Note 6(7))	25,963	1	30,485	2
1600	Property, plant and equipment (Notes 6(8))	2,421	-	3,006	-
1755	Right-of-use assets (Note 6(10))	5,200	-	7,458	-
1760	Investment property (Note 6(9), 7 and 8)	200,110	10	177,140	12
1780	Intangible assets	-	-	21	-
1980	Other financial assets - non-current (Note 7)	737	-	1,317	-
		257,395	12	312,488	20
	Total assets	\$ 2,065,597	100	1,517,302	100

(English Translation of Balance Sheets Originally Issued in Chinese) Better Life Group Co., Ltd.

Balance Sheets (Continued)

December 31, 2024 and 2023

Unit: In Thousand New Taiwan Dollars

		2024.12.31		2023.12.31
	Liabilities and equity	Amount	%	Amount	%
	Current liabilities:
2100	Short-term borrowings (Notes 6(12) and 8)	\$ 330,980	16	90,000	6
2110	Short-term notes payable (Note 6(11) and 8)	256,206	12	-	-
2130	Contract liabilities – current (Notes 6(19) and 9)	93,019	5	226,922	15
2150	Notes payable (Note 7)	540	-	9,507	1
2170	Accounts payable (Note 7)	98,846	5	16,190	1
2200	Other payables (Note 6(20) and 7)	54,957	4	16,335	1
2230	Income tax liabilities (Note 6(15))	10,029	-	-	-
2280	Lease liabilities - current (Notes 6(15) and 7)	2,913	-	2,661	-
2321	Corporate bonds subject to redemption or exercise of sell-back rights within one year	-	-	293,819	19
	or one business cycle (Note 6(14) and 8)
2322	Long-term borrowings due within one year or one operating cycle (Notes 6(13) and 8)	-	-	2,000	-
2399	Other current liabilities - other	6,686	-	10,728	1
		854,176	42	668,162	44
	Non-current liabilities:
2540	Long-term borrowings (Notes 6(13) and 8)	-	-	43,000	3
2570	Deferred income tax liability (Note 6(16))	26,993	1	27,104	2
2580	Lease liabilities - Non current (Notes 6(15) and 7)	2,464	-	5,002	-
	! ! Total liabilities	883,633	43	743,268	49
	Equity (Note 6(17)):
3110	Common stock	1,049,705	51	1,001,858	66
3200	Capital surplus	108,353	5	52,097	4
3310	Legal reserve	4,320	-	4,320	-
3350	Undistributed earnings (or deficit to be compensated)	27,652	1	(273,304)	(18)
3400	Other equity interests	(8,066)	-	(10,937)	(1)
	! ! Total equity	1,181,964	57	774,034	51
	Total liabilities and equity	\$ 2,065,597	100	1,517,302	100

(Please refer to the notes to parent company only financial statements)

Chairman: Lin, Jui-Shan Manager: Huang, Wen-Cheng Accounting Manager: Huang, Wen-Cheng

(English Translation of Statements of Comprehensive Income Originally Issued in Chinese)

Better Life Group Co., Ltd.

Statements of Comprehensive Income

January 1 to December 31, 2024 and 2023

Unit: In Thousand New Taiwan Dollars

		2024		2023
		Amount	%	Amount	%
4000	Operating income (Note 6(19))	\$ 621,276	100	139,621	100
5000	Operating costs (Notes 6(5) and 7)	326,988	53	137,635	99
	Gross profit	294,288	47	1,986	1
6000	Operating expenses (Notes 6 (15), (17), (20) and 7):
6100	Selling expenses	42,279	7	11,493	8
6200	General and administrative expenses	47,612	8	42,648	31
		89,891	15	54,141	39
	Net operating profit (loss)	204,397	32	(52,155)
	Non-operating income and expenses (Note 6(15), (21), 7 and 9):
7100	Interest income	6,645	1	5,928	4
7010	Other income	5,315	1	21,026	15
7020	Other gains and losses	117,123	19	(60,328)	(43)
7050	Financial costs	(15,475)	(2)	(18,917)	(14)
7070	Share of profit or loss of subsidiaries, associates, and joint ventures
	recognized using equity method (Note 13)	(6,847)	(1)	296	-
	! ! Total non-operating income and expenses	106,761	18	(51,995)	(38)
7900	Net profit (loss) before income tax	311,158	50	(104,150)	(76)
7950	Less: Income tax expenses (Note 6(16))	10,202	2	5,966	4
8200	Net income(loss) for the period	300,956	48	(110,116)	(80)
8300	Other comprehensive income (Note 6(17)):
8310	Items that will not be reclassified subsequently to profit or loss
8316	Unrealized gains or losses on equity instrument investments at fair	2,822	-	-	-
	value through other comprehensive income
8349	Less: Income tax related to items not reclassified	-	-	-	-
	Total items that will not be reclassified subsequently to profit	2,822	-	-	-
	or loss
8360	Items that may subsequently be reclassified to profit or loss
8380	Share of other comprehensive income of subsidiaries, associates, and	49	-	(119)	-
	joint ventures recognized using equity method - items that may be
	reclassified to profit or loss
8399	Less: Income tax related to items that may be reclassified to profit or	-	-	-	-
	loss
	! Total items that may subsequently be reclassified to profit or loss	49	-	(119)	-
8300	Other comprehensive income for the current period	2,871	-	(119)	-
	Total comprehensive income for the current period	\$ 303,827	48	(110,235)	(80)
	Earnings (losses) per share (Note 6(18))
9750	Basic earnings (losses) per share (NTD)	\$	2.96		(1.55)
9850	Diluted earnings (losses) per share (NTD)	\$	2.72		(1.55)

(Please refer to the notes to parent company only financial statements)

Chairman: Lin, Jui-Shan Manager: Huang, Wen-Cheng Accounting Manager: Huang, Wen-Cheng

(English Translation of Statements of Changes in Equity Originally Issued in Chinese)

Better Life Group Co., Ltd.

Statements of Changes in Equity

January 1 to December 31, 2024 and 2023

Unit: In Thousand New Taiwan Dollars

						Other equity items
	Share capital		Retained earnings		difference on Exchange	(loss) on financial Unrealized gain
				Undistributed	translation of statements of financial	assets at fair value comprehensive through other
	Common stock	Capital surplus	Legal reserve	earnings	foreign operations	income	Total equity
Balance on January 1, 2023	\$ 1,002,654	22,097	4,320	(463,984)	131	(10,949)	554,269
Net loss for the period	-	-	-	(110,116)	-	-	(110,116)
Other comprehensive income for the current period	-	-	-	-	(119)	-	(119)
Total comprehensive income for the current period	-	-	-	(110,116)	(119)	-	(110,235)
Capital increase by cash	300,000	30,000	-	-	-	-	330,000
Reduction in capital to offset losses	(300,796)	-	-	300,796	-	-	-
Balance as of December 31, 2023	1,001,858	52,097	4,320	(273,304)	12	(10,949)	774,034
Net income for the period	-	-	-	300,956	-	-	300,956
Other comprehensive income for the current period	-	-	-	-	49	2,822	2,871
Total comprehensive income for the current period	-	-	-	300,956	49	2,822	303,827
Convertible corporate bond conversion	47,847	52,153	-	-	-	-	100,000
Employee share options	-	4,103	-	-	-	-	4,103
Balance on December 31, 2024	\$ 1,049,705	108,353	4,320	27,652	61	(8,127)	1,181,964

(Please refer to the notes to parent company only financial statements) Chairman: Lin, Jui-Shan Manager: Huang, Wen-Cheng Accounting Manager: Huang, Wen-Cheng

Better Life Group Co., Ltd.

Statements of Cash Flows

January 1 to December 31, 2024 and 2023

Unit: In Thousand New Taiwan Dollars

	2024	2023
Cash flow from operating activities:
Income (loss) before tax for the current period \$	311,158	(104,150)
Adjustments:
Income and expenses
Depreciation expense	3,811	4,182
Amortization expense	21	86
Net (gain) loss on financial assets and liabilities measured at fair value through profit or loss	(120,421)	14,437
Interest expense	15,475	18,917
Interest income	(6,645)	(5,928)
Dividend income	(245)	(1,294)
Share-based payment for remuneration cost	4,103	-
Share of loss (gain) of subsidiaries, associates and joint ventures accounted for using the equity method	6,847	(296)
(Gain) Loss on change in fair value of investment property	3,305	(2,615)
Gain on lease modifications	(9)	-
Other losses	-	48,509
Total income and expenses	(93,758)	75,998
! ! Changes in assets/liabilities related to operating activities:
Net change in assets related to operating activities:
Financial assets at fair value through profit or loss	193,340	-
Notes receivable	(100,416)	5,038
Accounts receivable	(37,212)	171
Inventories	(105,109)	(3,602)
Prepayments	(158,424)	(11,001)
Other financial assets	93,681	(72,110)
Construction deposits paid	179,433	4,223
Incremental cost of obtaining contracts	31,344	(1,968)
Total net change in assets related to operating activities	96,637	(79,249)
Net change in liabilities related to operating activities:
Contract liabilities	(133,903)	136,632
Notes payable	(8,967)	2,946
Accounts payable	82,656	(27,027)
Other payables	38,235	6,586
Non-current liabilities	(4,042)	(3,216)
Total net change in liabilities related to operating activities	(26,021)	115,921
Total net change in assets and liabilities related to operating activities	70,616	36,672
Total adjustments	(23,142)	112,670
Cash inflow from operations	288,016	8,520
! ! Interest received	6,645	5,928
! ! Dividend received	245	1,294
! ! Interest paid	(9,109)	(14,101)
! ! Income tax paid	(284)	(4,453)
Net cash generated (used) in operating activities	285,513	(2,812)

Better Life Group Co., Ltd. Statements of Cash Flows (Continued) January 1 to December 31, 2024 and 2023

Unit: NTD thousands

	3135!	3134!
Cash flow from investing activities:
Acquisition of investment using the equity method	(2,276)	(3,108)
Refunds from capital reduction of the invested company under the equity method	-	30,000
Acquisition of property, plant and equipment	(518)	-
Guarantee deposits paid	580	300
Acquisition of investment property	(26,275)	(14,685)
Other financial assets	3,913	(1,507)
! ! Net cash generated (used) in investing activities	(24,576)	11,000
Cash flow from financing activities:
Short-term borrowings	240,980	(225,782)
Short-term notes payable	253,961	-
Repayment of corporate bonds	(200,000)	-
Repayment of long-term borrowings	(45,000)	(2,000)
Lease principal repaid	(2,727)	(3,105)
Capital increase by cash	-	330,000
! ! Net cash inflow from financing activities	247,214	99,113
Increase in cash and cash equivalents in the current period	508,151	107,301
Balance of cash and cash equivalents at the beginning of the period	160,449	53,148
Balance of cash and cash equivalents at the end of the period	\$ 668,600	160,449

(Please refer to the notes to parent company only financial statements) Chairman: Lin, Jui-Shan Manager: Huang, Wen-Cheng Accounting Manager: Huang, Wen-Cheng

Independent Auditors' Report

To Better Life Group Co., Ltd.,

Audit opinion

We have audited the accompanying financial statements of Better Life Group Co., LTD. and the subsidiaries (Better Life Group), which comprise the consolidated balance sheet as of December 31, 2024 and 2023, and the consolidated income statement, the consolidated statement of changes in equity and the consolidated statement of cash flows for the years then ended, as well as the notes to the financial statements, including a summary of significant accounting policies.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of Better Life Group as of December 31, 2024 and 2023, and its consolidated financial performance and consolidated cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC), and SIC Interpretations (SIC) endorsed and issued into effect by the Financial Supervisory Commission (FSC).

Basis for the audit opinion

We conducted our audits in accordance with the Regulations Governing the Auditing and Attestation of Financial Statements by Certified Public Accountants and auditing standards of the Republic of China. We explain further our responsibility under the standards in the section concerning the auditor's responsibility in the audit of consolidated financial statements. The personnel in our firm, subject to independence requirements, maintains independence from Better Life Group and fulfills other responsibilities in accordance with the Norm of Professional Ethics for Certified Public Accountant and under the norms. We are convinced that we have acquired enough and appropriate audit evidence to serve as the basis of audit opinion.

Key audit matters

Key audit matters are the matters of most significance based on our professional judgment and audits of Better Life Group's consolidated financial statements for 2024. These matters have been dealt with in the audit of the consolidated financial statements as a whole and during the process of forming the audit opinion. Hence, we do not issue opinions separately on such matters. Key audit matters of the parent company only financial statements of the Company are stated as follows: I.Inventory valuation

Please refer to Note 4 (8) to the consolidated financial statements for the accounting policy of inventory valuation. Please refer to Note 5 to the consolidated financial statements for the uncertainties in relation to the accounting estimates and assumptions of inventory valuation and to Note 6 (5) to the consolidated financial statements for inventory details. Description:

Inventory is an important operating asset for Better Life Group, accounting for approximately 35% of the total assets. Inventory valuation is based on International Financial Reporting Standards No. 2. The net realizable value of Better Life Group's inventory is based on future selling prices and construction costs estimated by management and subject to the influence of the political and economic environments. Inappropriate estimates of the net realizable value will result in a misstatement of financial reports. Hence, the testing of inventory valuation was one of the significant assessments for our audits of Better Life Group's consolidated financial statements.

Audit procedures

Our main inspection procedures on the above key audit matter include the acquisition of Better Life Group's data for estimates of the net realizable value of inventory, sampling of such data to check against the contracts sold, reference to the Ministry of Interior's most recently published actual transaction prices of real estate or the transaction prices in the same proximity so as to evaluate the net realizable value of properties available for sale and land for construction. To assess whether the net realizable value of buildings under construction is reasonable, we sampled and inspected the return-oninvestment analysis by the company, compared the return-on-investment data and market prices and, where necessary, obtained the appraisal reports.

Other matters

Better Life Group's has produced its consolidated financial statements for 2024 and 2023 and for which we have issued an audit report and an unqualified opinion.

Responsibility of management and those charged with governance for consolidated financial statements

Management is responsible for the preparation of consolidated financial statements for fair presentation in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC), and SIC Interpretations (SIC) endorsed and issued into effect by the Financial Supervisory Commission. Management is also responsible for the maintenance of necessary internal control in relation to the preparation of consolidated financial statements, to ensure no material misstatement in consolidated financial statements due to frauds or errors.

When preparing the consolidated financial statements, management is also responsible for the assessment of Better Life Group's ability to continue as a going concern, disclosure of relevant matters and the adoption of the going concern basis of accounting unless management either intends to liquidate Better Life Group or cease operations or has no realistic alternative but to do so.

Those charged with governance (including the Audit Committee) in Better Life Group are responsible for overseeing the financial reporting process.

Auditors' responsibilities for the audit of the consolidated financial statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with the auditing standards will always detect a material misstatement when it exists. Untruthful expressions might have been caused by frauds or errors. Misstatements are considered material if used individually or in aggregate. They could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

1. Identify and assess the risks of material misstatement of the consolidated financial statements due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. Fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Therefore, the risk of not detecting a material misstatement resulting from fraud is higher than the one resulting from error.
1. Obtain a necessary understanding of internal control relevant to the audit in order to design audit procedures appropriate to the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Better Life Group's internal control.
1. Evaluated the adequacy of accounting policies adopted by the management and the legitimacy of accounting estimates and related disclosures made.
1. Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on Better Life Group's ability to continue as a going concern. If we conclude that a material uncertainty exists with such events or conditions, we are required to draw attention in our auditors' report to the related disclosures in the consolidated financial statements or, if such disclosures are inappropriate, to modify our opinion. Conclusions made by the CPAs are based on the audit findings obtained as of the date of audit report. However, future events or conditions may render Better Life Group unable to continue as a going concern.
1. Evaluate the overall presentation, structure and content of the consolidated financial statements, including the notes, and whether the consolidated financial statements fairly represent the underlying transactions and events.
1. Obtain sufficient and appropriate audit evidence regarding the financial information of the entities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the Group audit and for the forming of our audit opinion.

We determined the key audit matters for Better Life Group's 2024 consolidated financial statements based on our communication with those charged with governance. We have clearly indicated such matters in the auditors' report. Unless legal regulations prohibit the public disclosure of specific matters, or in extremely rare cases, where we decided not to communicate over specific items in the auditors' report for it could be reasonably anticipated that the negative effects of such disclosure would be greater than the public interest it brings forth.

KPMG Taiwan

PAN JIUN MING

CPA:

CHEN TZUNG JE

Competent Security Authority Approval Document No. : March 5, 2025

Jin-Guan-Zheng-Shen-Zi #1110333933 Jin-Guan-Zheng-Shen-Zi #1000011652

Notes to Readers

The accompanying consolidated financial statements are intended only to present the consolidated financial position, financial performance and cash flows in accordance with the accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to audit such consolidated financial statements are those generally accepted and applied in the Republic of China.

The independent auditor's audit report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and uesd in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors' audit report and consolidated financial statements, the Chinese version shall prevail.

(English Translation of Consolidated Balance Sheets Originally Issued in Chinese)! Better Life Group Co., LTD. and the Subsidiaries

Consolidated Balance Sheet

December 31, 2024 and 2023

Unit: In Thousand New Taiwan Dollars

		2024.12.31		2023.12.31
	ġ Assets	Amount	%	Amount	%
	Current assets:
1100	Cash and cash equivalents (Note 6(1))	\$ 682,956	33	175,674	11
1150	Notes receivable, net (Notes 6(4) and (18))	100,868	5	452	-
1170	Accounts receivable, net (Notes 6(4) and (18))	37,304	2	38	-
1320	Inventories (for construction industry) (Notes 6(5), 7, 8, and 9)	714,906	35	607,350	39
1410	Prepayments (Notes 6(6) and 7)	207,279	10	31,348	2
1424	Excess business tax paid	3,589	-	20,767	1
1476	Other financial assets - current (Note 8)	31,464	2	129,171	8
1478	Construction deposits paid (Notes 7 and 9)	39,649	2	219,082	15
1480	Incremental cost of obtaining contracts - current (Note 7)	9,868	-	41,212	3
1482	Costs to fulfill contracts, current	8,500	-	8,500	1
		1,836,383	89	1,233,594	80
	Non-current assets:
1510	Financial assets measured at fair value through profit or loss – non-current (Notes 6 (2) and (21) and 8)	424	-	73,343	5
1517	Financial assets measured at fair value through other comprehensive income – non-current (Notes 6 (3) and (21))	22,540	1	19,718	1
1600	Property, plant and equipment (Notes 6(7))	3,826	-	10,357	1
1755	Right-of-use assets (Note 6(9))	5,200	-	21,621	1
1760	Investment properties (Notes 6 (8) and 8)	200,110	10	177,140	12
1780	Intangible assets	-	-	21	-
1980	Other financial assets - non-current (Note 7)	1,004	-	1,938	-
		233,104	11	304,138	20
	Total assets	\$ 2,069,487	100	1,537,732	100

(English Translation of Consolidated Balance Sheets Originally Issued in Chinese)! Better Life Group Co., LTD. and the Subsidiaries

Consolidated balance sheet (continued)

December 31, 2024 and 2023

Unit: In Thousand New Taiwan Dollars

	Liabilities and equity	2024.12.31 Amount	%	2023.12.31 Amount	%
	Current liabilities:
2100	Short-term borrowings (Note 6(11) and 8)	\$ 330,980	16	90,000	6
2110	Short-term notes payable (Note 6(10) and 8)	256,206	13	-	-
2130	Contract liabilities - current (Notes 6(18) and 9)	100,019	5	233,922	15
2150	Notes payable (Note 7)	540	-	9,507	1
2170	Accounts payable (Note 7)	104,396	5	19,091	1
2200	Other payables (Note 6(19) and 7)	44,538	3	8,947	1
2230	Income tax liabilities (Note 15)	10,029	-	-	-
2280	Lease liabilities - current (Notes 6 (14) and 7)	2,913	-	6,038	-
2305	Other financial liabilities - current	153	-	613	-
2321	Corporate bonds subject to redemption or exercise of sell-back rights within one year or one business cycle (Note	-	-	293,819	20
	6(13) and 8)
2322	Long-term borrowings due within one year or one operating cycle (Notes 6(12) and 8)	-	-	2,000	-
2399	Other current liabilities - other	8,292	-	12,246	1
		858,066	42	676,183	45
	Non-current liabilities:
2540	Long-term borrowings (Notes 6(12) and 8)	-	-	43,000	3
2570	Deferred income tax liability (Note 6 (15))	26,993	1	27,104	2
2580	Lease liabilities - non-current (Notes 6 (14) and 7)	2,464	-	17,411	1
		29,457	1	87,515	6
	! ! Total liabilities	887,523	43	763,698	51

	Equity attributable to owners of the parent (Note 6 (16))
3100	Capital	1,049,705	51	1,001,858	65
3200	Capital surplus	108,353	5	52,097	3
3310	Legal reserve	4,320	-	4,320	-
3350	Undistributed earnings (deficit to be made up)	27,652	1	(273,304)	(18)
3400	Other equity interests	(8,066)	-	(10,937)	(1)
	! ! Total equity	1,181,964	57	774,034	49
	Total liabilities and equity	\$ 2,069,487	100	1,537,732	100

(Please refer to the notes to the consolidated financial statements.)

Chairman: Lin, Jui-Shan Manager: Huang, Wen-Cheng Accounting Manager: Huang, Wen-Cheng

(English Translation of Consolidated Statements of Comprehensive Income Originally Issued in Chinese)

Better Life Group Co., LTD. and the Subsidiaries Consolidated Statements of Comprehensive Income January 1 to December 31, 2024 and 2023

Unit: In Thousand New Taiwan Dollars

		2024		2023
		Amount	%	Amount	%
4000	Operating income (Note 6(18))	\$ 625,467	100	145,516	100
5000	Operating costs (Notes 6(5) and 7)	332,069	53	144,851	100
	Gross profit	293,398	47	665	-
6000	Operating expenses (Notes 6(14), (16), (19) and 7):
6100	Selling expenses	42,435	7	6,722	5
6200	General and administrative expenses	50,234	8	45,862	32
		92,669	15	52,584	37
6900	Operating profit	200,729	32	(51,919)	(37)
	Non-operating income and expenses (Note 6(7), (14) (20), 7 and 9):
7100	Interest income	6,728	1	6,040	5
7010	Other income	5,469	1	21,821	15
7020	Other gains and losses	114,198	18	(60,276)	(41)
7050	Financial costs	(15,966)	(2)	(19,816)	(14)
	! ! Total non-operating income and expenses	110,429	18	(52,231)	(35)
7900	Net profit (loss) before income tax	311,158	50	(104,150)	(72)
7950	Less: Income tax expenses (Note 6(15))	10,202	2	5,966	4
8200	Net income(loss) for the period	300,956	48	(110,116)	(76)
8300	Other comprehensive income (Note 6(16)):
8310	Items that will not be reclassified subsequently to profit or loss
8316	Unrealized gains or losses on equity instrument investments at fair value	2,822	1	-	-
	through other comprehensive income
8349	Less: Income tax related to items not reclassified	-	-	-	-
	Total items that will not be reclassified subsequently to profit or loss	2,822	1	-	-
8360	Items that may subsequently be reclassified to profit or loss
8361	Exchange difference on translation of financial statements of foreign operations	49	-	(119)	-
8399	Less: Income tax related to items that may be reclassified to profit or loss	-	-	-	-
	! Total items that may subsequently be reclassified to profit or loss	49	-	(119)	-
8300	Other comprehensive income for the current period	2,871	1	(119)	-
	Total comprehensive income for the current period	\$ 303,827	49	(110,235)	(76)
	Net income (loss) attributable to:
8610	Owners of the parent	\$ 300,956	48	(110,116)	(76)
	Other comprehensive income attributable to:
8710	Owners of the parent	\$ 303,827	49	(110,235)	(76)
	Earnings (losses) per share (Note 6(17))
9750	Basic earnings (losses) per share (NTD)	\$	2.96		(1.55)
9850	Diluted earnings (losses) per share (NTD)	\$	2.72		(1.55)

(Please refer to the notes to the consolidated financial statements.)

Chairman: Lin, Jui-Shan Manager: Huang, Wen-Cheng Accounting Manager: Huang, Wen-Cheng

(English Translation of Consolidated Statements of Changes in Equity Originally Issued in Chinese) Better Life Group Co., LTD. and the Subsidiaries

Consolidated Statement of Changes in Equity

January 1 to December 31, 2024 and 2023

Unit: In Thousand New Taiwan Dollars

Equity attributable to owners of the parent

						Other equity items
	Share capital		Retained earnings		differences in translation of Exchange	assets at fair value (loss) on financial Unrealized gain	Equity
	Common stock	Capital surplus	Legal reserve	Undistributed earnings	statements financial foreign	comprehensive through other income	attributable to owners of the parent	Total equity
Balance on January 1, 2023	1,002,654 \$	22,097	4,320	(463,984)	131	(10,949)	554,269	554,269
Net loss for the period	-	-	-	(110,116)	-	-	(110,116)	(110,116)
Other comprehensive income for the current period	-	-	-	-	(119)	-	(119)	(119)
Total comprehensive income for the current period	-	-	-	(110,116)	(119)	-	(110,235)	(110,235)
Capital increase by cash	300,000	30,000	-	-	-	-	330,000	330,000
Reduction in capital to offset losses	(300,796)	-	-	300,796	-	-	-	-
Balance as of December 31, 2023	1,001,858	52,097	4,320	(273,304)	12	(10,949)	774,034	774,034
Net income for the period	-	-	-	300,956	-	-	300,956	300,956
Other comprehensive income for the current period	-	-	-	-	49	2,822	2,871	2,871
Total comprehensive income for the current period	-	-	-	300,956	49	2,822	303,827	303,827
Convertible corporate bond conversion	47,847	52,153	-	-	-	-	100,000	100,000
Employee share options	-	4,103	-	-	-	-	4,103	4,103
Balance on December 31, 2024	1,049,705 \$	108,353	4,320	27,652	61	(8,127)	1,181,964	1,181,964

(Please refer to the notes to the consolidated financial statements.) Chairman: Lin, Jui-Shan Accounting Manager: Huang, Wen-Cheng Manager: Huang, Wen-Cheng

(English Translation of Consolidated Statement of Cash Flows Originally Issued in Chinese)

Better Life Group Co., LTD. and the Subsidiaries Consolidated Statement of Cash Flows January 1 to December 31, 2024 and 2023

Unit: In Thousand New Taiwan Dollars

	2024	2023
Cash flow from operating activities:
Income (loss) before tax for the current period	\$ 311,158	(104,150)
Adjustments:
Income and expenses
Depreciation expense	8,082	9,611
Amortization expense	21	86
Net (gain) loss on financial assets and liabilities measured at fair value through	(120,421)	14,437
profit or loss
Interest expense	15,966	19,816
Interest income	(6,728)	(6,040)
Dividend income	(245)	(1,294)
Share-based payment for remuneration cost	4,103	-
Non-financial assets impairment loss	4,229	-
(Gain) Loss on change in fair value of investment property	3,305	(2,615)
Gain on lease modifications	(1,919)	-
Other losses	-	48,509
Total income and expenses	(93,607)	82,510
! ! Changes in assets/liabilities related to operating activities:
Net change in assets related to operating activities:
Financial assets at fair value through profit or loss	193,340	-
Notes receivable	(100,416)	5,586
Accounts receivable	(37,264)	618
Inventories	(105,109)	(3,602)
Prepayments	(158,753)	(12,038)
Other financial assets	93,796	(70,869)
Construction deposits paid	179,433	4,223
Incremental cost of obtaining contracts	31,344	(7,362)
Costs to fulfill contracts	-	287
Total net change in assets related to operating activities	96,371	(83,157)
Net change in liabilities related to operating activities:
Contract liabilities	(133,903)	136,632
Notes payable	(8,967)	2,946
Accounts payable	85,278	(16,330)
Other payables	35,185	(1,297)
Non-current liabilities	(3,956)	(3,203)
Other financial liabilities	(471)	(86)
Total net change in liabilities related to operating activities	(26,834)	118,662
Total net change in assets and liabilities related to operating activities	69,537	35,505
Total adjustments	(24,070)	118,015
Cash inflow from operations	287,088	13,865
! ! Interest received	6,728	6,040
! ! Dividend received	245	1,294
! ! Interest paid	(9,600)	(15,000)
! ! Income tax paid	(284)	(4,453)
Net cash inflow from operating activities	284,177	1,746

(English Translation of Consolidated Statement of Cash Flows Originally Issued in Chinese)

Better Life Group Co., LTD. and the Subsidiaries Consolidated statement of cash flows (continued) For the three months ended December 31, 2024 and 2023

Unit: NTD thousands

	2024	2023
Cash flow from investing activities:
Acquisition of property, plant and equipment	(519)	-
Guarantee deposits paid	-	299
Acquisition of investment property	(26,275)	(14,685)
Other financial assets	4,854	(1,507)
! ! Net cash outflow from investment activities	(21,940)	(15,893)
Cash flow from financing activities:
Short-term borrowings	240,980	(225,782)
Short-term notes payable	253,961	-
Repayment of corporate bonds	(200,000)	-
Repayment of long-term borrowings	(45,000)	(2,000)
Lease principal repaid	(4,870)	(7,079)
Capital increase by cash	-	330,000
! ! Net cash inflow from financing activities	245,071	95,139
Effect of exchange rate changes on cash and cash equivalents	(26)	(23)
Increase in cash and cash equivalents	507,282	80,969
Balance of cash and cash equivalents at the beginning of the period	175,674	94,705
Balance of cash and cash equivalents at the end of the period	\$ 682,956	175,674

(Please refer to the notes to the consolidated financial statements.)

Better Life Group Co., Ltd.

Comparison Table for Amendments of "Articles of Incorporation" of the Company

		Reason of
Provision After Amendment	Provision Before Amendment	Amendment
Article 30:	Article 30:	Cooperate with
Regarding the determination on the	Regarding the determination on the	legal amendments.
proposal of earnings distribution, the	proposal of earnings distribution, the
board of directors of the Company	board of directors of the Company
shall consider the future capital	shall consider the future capital
expense budget and demand of fund	expense budget and demand of fund
of the Company and shall also	of the Company and shall also
evaluate the necessity to fulfill the	evaluate the necessity to fulfill the
demand of fund with the surplus	demand of fund with the surplus
earnings in order to determine the	earnings in order to determine the
amount of earnings to be retained or	amount of earnings to be retained or
distributed as well as the amount of	distributed as well as the amount of
distribution of dividends or bonuses	distribution of dividends or bonuses
in cash or stock to shareholders.	in cash or stock to shareholders.
For the net profit before tax of the	For the net profit before tax of the
current period before deduction of the	current period before deduction of the
remuneration of employees and	remuneration of employees and
remuneration of directors of the	remuneration of directors of the
Company, not less than 4% of such	Company, not less than 4% of such
profit shall be appropriated as the	profit shall be appropriated as the
remuneration of employees(No less	remuneration of employees, and no
than 5% of this employee	higher than 4% of such profit shall be
remuneration amount should be	appropriated as the remuneration of
allocated to rank-and-file employees),	directors and supervisors. However,
and no higher than 4% of such profit	if the Company still has accumulated
shall be appropriated as the	losses (including adjustment of
remuneration of directors and	undistributed earnings amount), an
supervisors. However, if the Company	amount shall be retained for making
still has accumulated losses (including	up the accumulated loss first. The
adjustment of undistributed earnings	subjects for the issuance of
amount), an amount shall be retained	remunerations may include
for making up the accumulated loss	employees of a holding or
first. The subjects for the issuance of	subordinate company satisfy certain
remunerations may include employees	criteria, and the board of directors is
of a holding or subordinate company	authorized to specify such criteria.
satisfy certain criteria, and the board
of directors is authorized to specify
such criteria.
(hereafter omitted)	(hereafter omitted)

Provision After Amendment	Provision Before Amendment	Reason of Amendment
Article 33: These Article of Incorporation were duly enacted on May 2, 1978…(omitted), and the 40th amendment was made on May 3, 2024, and the 41th amendment was made on June 27, 2025. These Articles of Incorporation shall take effect after having been submitted to and approved by a shareholders' meeting. Subsequent amendments thereto shall be effected in the same manner.	Article 33: These Article of Incorporation were duly enacted on May 2, 1978…(omitted), and the 40th amendment was made on May 3, 2024. These Articles of Incorporation shall take effect after having been submitted to and approved by a shareholders' meeting. Subsequent amendments thereto shall be effected in the same manner.	Newly added the amendment number and date.

Better Life Group Co., Ltd. Operational Procedures for Loaning Funds to Others and Endorsements/Guarantees Comparison Table for Provisions Before and After Amendments

Provision After Amendment	Provision Before Amendment	Description
Article 8: The Company's	Article 8: The Company's	Amended to align
counterparties for endorsements	counterparties for endorsements	with the Company's
and guarantees are as follows:	and guarantees are as follows:	actual operations and
I. Companies with business	I. Companies with which the	revisions to relevant
dealings.	Company has business	regulations.
	dealings.
II. Companies in which the	II. Companies in which the
company directly or indirectly	Company directly or indirectly
holds more than 50% of the	holds more than 50% of the voting shares.
voting shares. III.Companies that directly or	III. For joint investment in
indirectly hold more than	construction or joint
50% of the company's voting	construction, the Company and
shares.	co-builders may provide
Companies in which the Company	mutual endorsements and
directly or indirectly holds 90% or	guarantees in accordance with
more of the voting shares may	contractual agreements;
make endorsements and guarantees	mutual endorsements and
to each other, provided that the total	guarantees may also be provided between peers as
amount does not exceed 10% of the Company's net worth. However,	required for contracted
this restriction shall not apply to	construction projects; in
endorsements and guarantees made	addition, for joint-and-several
between companies in which the	guarantees made in connection
Company directly or indirectly	with the performance of
holds 100% of the voting shares.	pre-sale housing project
The Company may provide	contracts under the Consumer
endorsements and guarantees	Protection Act, the restrictions
without being subject to the	set forth in this Article shall not apply.
preceding two provisions when mutual guarantees are made in	Companies in which the Company
accordance with contractual	directly or indirectly holds 90% or
agreements between companies in	more of the voting shares may
the same industry or joint	make endorsements and guarantees
developers for the purpose of	to each other, provided that the total
undertaking construction projects;	amount does not exceed 10% of the
when, due to a joint investment	Company's net worth. However,
relationship, all investing shareholders provide endorsements	this restriction shall not apply to endorsements and guarantees made
or guarantees for the investee	between companies in which the

Provision After Amendment	Provision Before Amendment	Description
company in proportion to their shareholding; for joint-and-several guarantees made in connection with the performance of pre-sale housing project contracts under the Consumer Protection Act. For the purposes of the preceding paragraph, "investment" refers to direct investment by the Company or investment made through a wholly owned subsidiary (i.e., a company in which the Company holds 100% of the voting shares).	Company directly or indirectly holds 100% of the voting shares.
Article 10-1: Where the Company is engaged in a joint construction or co-development project, it may provide mutual guarantees with co-developers in accordance with contractual agreements. In the case of a joint investment, the Company may provide endorsements or guarantees for the investee company based on the shareholding ratio of all contributing shareholders. In addition, mutual guarantees with companies in the same industry for construction contracting purposes, for joint-and-several guarantees made in connection with the performance of pre-sale housing project contracts under the Consumer Protection Act, may also be provided. The total amount of such endorsements and guarantees shall not exceed 600% of the Company's net worth for the current period, and the amount for any single entity shall not exceed 400% of the Company's net worth for the current period. These endorsements and guarantees shall not be subject to the limitations set forth in the preceding Article.	Article 10-1: Where the Company is engaged in a joint construction or co-development project, it may provide mutual guarantees with co-developers in accordance with contractual agreements. In addition, mutual guarantees with companies in the same industry for construction contracting purposes, for joint-and-several guarantees made in connection with the performance of pre-sale housing project contracts under the Consumer Protection Act, may also be provided. The total amount of such endorsements and guarantees shall not exceed 200% of the Company's net worth for the current period, and the amount for any single entity shall not exceed 100% of the Company's net worth for the current period. These endorsements and guarantees shall not be subject to the limitations set forth in the preceding Article.	Amended to align with the Company's actual operations and revisions to relevant regulations.

According to paragraph 1 of Article 15 of the Standards for the Regulations Governing the Acquisition and Disposal of Assets by Public Companies, the items to be evaluated are as follows:

I. Construction project: Guishan Hwa Ya Section
II. Estimated amount of the project contract: NT\$ 3,318,110 thousand (tax included)
III. The purpose, necessity and anticipated benefit of the acquisition or disposal of assets:
1. The purpose and necessity of the acquisition or disposal of assets: To meet the construction needs of construction project, it is proposed to issue the construction contracts.
1. Expected benefits: Effectively control the quality and the progress of the project, and make sales and obtain profits.
IV. The reason for choosing the related party as a transaction counterparty: "Pucheng Construction Co., Ltd.," the counterparty of this planned transaction, is a construction company affiliated to Pauian Construction Group. It has rich experience in contracted construction projects and excellent construction quality and construction schedule control. Previously, it also handled the construction of the Company's projects of "Song Yong" and "Pauian Pau-Garden." It is planned to invite Pucheng Construction Co., Ltd. to participate in bidding or quotation process for outsourcing of the Company's Guishan Hwa Ya Section project. After carrying out the Company's internal control procedures related to the construction project contract award, if its conditions are the most preferable, the Company will sign a construction project contract with it.
V. With respect to the acquisition of real property or right-of-use assets thereof from a related party, information regarding appraisal of the reasonableness of the preliminary transaction terms in accordance with Articles 16 and 17: