ROOLIFE GROUP LTD — Capital/Financing Update 2023

Aug 29, 2023

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30 AUGUST 2023

AGREEMENT & 1[st] ORDER OF $950k FOR SHANGHAI NO. 1 PHARMACEUTICALS CO

• RLG Marketplace enters into agreement to source and supply food, health and well-being, nutritional and beauty care products, to be sold online and in-store by Shanghai No.1 Pharmaceuticals Company

• Shanghai stock exchange listed Shanghai No.1 Pharmaceuticals Company (600833.SS) is engaged in pharmaceutical wholesaling and retailing and operates an extensive network of regular chain drug stores, mainly in Shanghai, and a large online market place. It is part of the large state-owned Bailian Group

• Agreement is anchored by a maiden $950,000 order with revenue to be recognised next quarter

• Further extends RLG’s sales channels and portfolio in the health & well-being and food and beverage sector in China exclusively distributing Remedy Drinks, New Zealand Honey Co, Fiji Kava, Hydralyte and RLG’s own VORA protein range

• Agreement adds more online and physical stores and pharmacies in China, greatly expanding RLG’s reach here

e-Commerce company RooLife Group Ltd ( ASX:RLG ) (“ RLG ” or “ Company ”), through its RLG Marketplace Pty Ltd subsidiary, has entered into an agreement to source and supply products to be sold in China both online and through physical pharmacies and stores of Shanghai No.1 Pharmaceuticals Co., Ltd (“ Shanghai No. 1 Pharmacy ”).

The agreement between RLG Marketplace Pty Ltd and Shanghai Pharmacy’s No. 1 Pharma (Hong Kong) Limited, is to source and to supply a range of goods including food, health and well-being, nutritional and beauty care products, which are to be sold in China through Shanghai No. 1 Pharmacy’s stores.

The products are to be sold in China online and in the extensive physical store network of Shanghai No.1 Pharmaceuticals Co., Ltd, which is a diversified pharmaceutical distribution enterprise and part of the Bailian Group, which operates both wholesale and retail businesses. Shanghai No. 1 Pharmacy advises it has been appointed as one of the first three pilot "dual-channel" (online and offline) pharmacies in Shanghai.

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Bailian Group (www.bailiangroup.cn/html/english) is a large state-owned enterprise in Shanghai and controls 5 publicly listed companies including Shanghai No.1 Pharmaceuticals Co., Ltd, with business operations covering department stores, shopping malls, outlet stores, supermarkets, convenience stores and specialty retail operations.

Initial orders of food and dairy product totalling $950,000 have been received this week under the terms of the annual contract, which provides for RLG Marketplace to source and supply a range of goods, including food, health and well-being, nutritional and beauty care products.

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“Shanghai No.1 Pharmaceuticals has pharmacy stores concentrated in central urban areas and is expanding reach to other suburban areas in addition to its online operations. ”

RooLife Group CEO, Bryan Carr said: “ This latest agreement showcases the strength of our new RLG Marketplace delivering new channels to market and comes out of our recently announced partnership with AULife and importantly comes with first product orders from Shanghai No. 1 Pharmacy totalling about $950,000. It’s a great way to start and with 80% of the net profit from these product sales to drop directly to our bottom line, it highlights the value of this new partnership.

This sales and distribution agreement with Shanghai No.1 Pharmaceuticals further enhances our positioning in the health, well-being, food and beverage sector in China where we continue to grow out our online and physical store channels, servicing the high consumer demand for quality international products with China’s large, emerging middle class.

This latest arrangement is confirmation and delivery on our strategy of sales channel growth focussed on health, wellbeing, food and beverage products, adding to distribution through ALDI, Ole and Alibaba’s HEMA supermarkets in China.

We look forward to providing further updates as we secure additional sales channels and supply contracts for our health, wellbeing and food and beverage product range. ”

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ENDS

Issued by : RooLife Group Ltd Authorised by: The Board of RooLife Group Ltd

For further information, please visit the RooLife website at www.roolifegroup.com.au or contact:

Bryan Carr Managing Director Ph: +61 8 6444 1702 Email: ir@roolifegroup.com.au