Willas-Array Electronics (Holdings) Limited — AGM Information 2023

Jul 21, 2023

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Singapore Exchange Securities Trading Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Singapore Exchange Securities Trading Limited assumes no responsibility for the correctness of any of the statements made, reports contained or opinions expressed in this announcement.

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WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED 威雅利電子(集團)有限公司

(Incorporated in Bermuda with limited liability)

(Hong Kong stock code: 854) (Singapore stock code: BDR)

OVERSEAS REGULATORY ANNOUNCEMENT

This overseas regulatory announcement is issued pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Please refer to the following pages of the document which has been published by Willas-Array Electronics (Holdings) Limited (the “Company”) on the website of Singapore Exchange Securities Trading Limited on July 21, 2023.

For and on behalf of Willas-Array Electronics (Holdings) Limited Leung Hon Shing

Executive Director and Company Secretary

Hong Kong, July 21, 2023

As at the date of this announcement, the Board comprises two Non-executive Directors, namely Xie Lishu (Chairman) and Huang Shaoli; two Executive Directors, namely Hon Kar Chun (Managing Director) and Leung Hon Shing; and three Independent Non-executive Directors, namely Lim Lee Meng, Tang Wai Loong Kenneth and Tong Kai Cheong.

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Singapore Exchange Securities Trading Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Singapore Exchange Securities Trading Limited assumes no responsibility for the correctness of any of the statements made, reports contained or opinions expressed in this announcement.

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WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED 威雅利電子(集團)有限公司

(Incorporated in Bermuda with limited liability)

(Hong Kong stock code: 854) (Singapore stock code: BDR)

RESPONSES TO SUBSTANTIAL AND RELEVANT QUESTIONS RECEIVED FROM SHAREHOLDERS IN RESPECT OF THE ANNUAL GENERAL MEETING TO BE HELD ON JULY 28, 2023

The board of directors (the “ Board ”) of Willas-Array Electronics (Holdings) Limited (the “ Company ” and together with its subsidiaries, the “ Group ”) refers to (i) the circular of the Company dated July 3, 2023 (the “ Circular ”) and (ii) the notice of the annual general meeting of the Company dated July 3, 2023, in particular, the invitation to Shareholders to submit questions in advance of the 2023 AGM.

Unless the context otherwise requires, capitalized terms used in this announcement have the same meaning as defined in the Circular.

The Company thanks Shareholders for the questions raised. The Company sets out herein the substantial and relevant questions that it has received from Shareholders as at 5:00 p.m. on July 12, 2023 and the accompanying responses of the Company.

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Questions from Shareholders

1. Can the new controlling shareholder (as defined under the SGX-ST Listing Manual), Mr. Xie Lishu, elaborate on his plan to bring the business to the next level? Company’s response: Mr. Xie has experience in the electronics industry for more than 26 years, specializing in the automotive segment.

Since joining the Board on May 20, 2023 in his new role as the non-executive director and the Chairman, Mr. Xie has been engaged with our senior management to understand more about our business and culture. The Company understands from Mr. Xie that moving forward, he has four key areas of focus that he as the new Chairman believes will contribute to the long-term performance of the Company:

1. Reviewing and making enhancements to our automotive segment to improve efficiency and drive sales;

2. Recommending more local suppliers in China to increase supply chain resilience and broaden the Group’s product and brand portfolio;

3. Considering and recommending the optimization of the Group’s financial and manpower resources; and

4. Building a cohesive and passionate workforce.

2. Can the Board elaborate on the roles and responsibilities for the Non-executive Directors Mr. Xie Lishu and Ms. Huang Shaoli?

Company’s response: For the purpose of answering this question, Non-executive Directors (“ NEDs ”) do not include independent non-executive Directors (" INEDs ”). NEDs do not hold any executive office and are not engaged in the daily operations of the Company. They add value by providing a broad perspective of the Company’s business and interests. Taking into account the specific situation of the Company and the requirements under both the Singapore CG Code and the Hong Kong CG Code, the NEDs are mainly responsible for the followings:

1. participating in board meetings to challenge, help develop proposals on and provide objective insights on issues of strategy, policy, performance, accountability, resources, key appointments and standards of conduct;

2. taking the lead where potential conflicts of interests arise where appropriate subject to the prerequisite that the NEDs are not involving in such conflicts; and

3. scrutinising the Company’s performance in achieving agreed corporate goals and objectives, and monitoring performance reporting. In this regard, the NEDs may, together with INEDs and led by the lead INED, meet regularly to consider the foregoing without the presence of management.

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By Order of the Board Willas-Array Electronics (Holdings) Limited Hon Kar Chun

Executive Director and Managing Director

Hong Kong/Singapore, July 21, 2023

As at the date of this announcement, the Board comprises two Non-executive Directors, namely Xie Lishu (Chairman) and Huang Shaoli; two Executive Directors, namely Hon Kar Chun (Managing Director) and Leung Hon Shing; and three Independent Non-executive Directors, namely Lim Lee Meng, Tang Wai Loong Kenneth and Tong Kai Cheong.

In the case of inconsistency, the English text of this announcement shall prevail over the Chinese text.

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