The Board of Directors of WSC wishes to announce that Wasco Capital Pte. Limited (“WCapital”), an indirect wholly-owned subsidiary of the Company, had been struck off on 9 May 2022 from the Register of the Singapore Accounting and Corporate Regulatory Authority (“ACRA”). The notice of striking-off was obtained by WSC from ACRA on 17 May 2022.

WCapital was incorporated in Singapore on 17 November 2009 with an issued and paid-up share capital of USD1.00 comprising 1 ordinary share of USD1.00 each and is 100% owned by Wasco Energy Ltd, a direct wholly-owned subsidiary of the Company.

The striking-off of WCapital will not have any effect on the share capital and shareholdings of the substantial shareholders of the Company and will not have any financial impact on the gearing, earnings and net assets of WSC Group for the financial year ending 31 December 2022.

None of the Directors, major shareholders, chief executive of WSC and/or persons connected to them have any interest, direct or indirect, in the striking-off of WCapital.

This announcement is dated 17 May 2022.