WISEWAY GROUP LIMITED — M&A Activity 2024

Jul 25, 2024

==> picture [162 x 28] intentionally omitted <==

26 July 2024

ASX Announcement

Wiseway Group Limited ABN 26 624 909 682

Registered office: 39-43 Warren Avenue BANKSTOWN NSW 2200 T: +61 2 9790 7888

Acquisition of KWT International Inc

Wiseway Group Limited (ASX: WWG, “ Wiseway ’’, or “ the Group ”), one of Australia’s leading integrated freight and logistics operators, announced today that it has reached agreement to acquire KWT International Inc., a US-based logistics company with locations in Los Angeles and New York (“KWT”). This strategic acquisition marks a significant milestone in Wiseway’s ongoing efforts to expand its capabilities and footprint in the United States.

Key details

• KWT International INC : KWT was established in 2016 in the state of California, USA. KWT is exports/imports freight forwarding, 3PL warehouse, inbound customs clearance, and last mile delivery business. The KWT team has 10 staff, operating 2 warehouses located in Los Angeles and New York, with a revenue of USD11 million in last USA financial year and has a track record of delivering profits over the last three years.

The completion of the proposed acquisition is expected to be completed by August 2024 and the Company confirms there are no material conditions to be satisfied to complete the acquisition.

• Consideration: Wiseway Logistics INC. (“Wiseway USA”), the wholly owned subsidiary of Wiseway Logistics PTY LTD (“Wiseway Australia”), will issue 49% of new shares to KWT’s current shareholders, and inject USD200,000 cash to the joint venture. The cash consideration component will be funded from existing reserves. Wiseway Group will still maintain majority shareholding (51%) of Wiseway USA, who will be wholly owning KWT.

• Expansion of capabilities : The acquisition of KWT will provide Wiseway with established operational bases in two of the largest and most important logistics hubs in the United States – Los Angeles and New York. This will significantly enhance Wiseway's ability to serve its clients with comprehensive logistics solutions across the US. The acquisition will also bring the current experienced management team of KWT to Wiseway USA

Mr Roger Tong, the Group’s Chief Executive Officer, commented: “The acquisition of KWT International Inc. aligns with Wiseway's strategic objective of expanding its global reach and service offerings. With KWT's strong presence in the US market and its established customer base, Wiseway will be wellpositioned to leverage synergies and enhance its operational capabilities. This acquisition is expected to drive significant value for shareholders and provide a robust platform for future growth.”

Authorised for release by the Board of Directors of Wiseway Group Limited.

Ends

==> picture [77 x 13] intentionally omitted <==

For further information, please contact:

Investor enquiries Media enquiries Ken Tong Ken Tong Chief Operating Officer and Company Chief Operating Officer and Company Secretary Secretary E: investors@wiseway.com.au E: media@wiseway.com.au

About Wiseway Group Limited (the Company)

Wiseway (ASX: WWG) is a leading provider of integrated logistics solutions, with a global network of strategically located warehouses and facilities and a large modern fleet of trucks, aircraft and delivery vehicles.

Established in 2005 to serve the growing Australia-Asia Pacific trade industry, Wiseway has grown to become one of the top three outbound air freight logistics providers in Australia. With multiple strategically located operation hubs in Australia, the US, and the Asia Pacific, the Company provides its large base of domestic and international customers with specialist cross-border logistics services including air freight, sea freight, import, domestic transportation, warehousing, and customs clearance.

For more information, please visit www.wiseway.com.au

Page 2