On behalf of the Board of Directors of Yew Lee (“Board”), M&A Securities Sdn Bhd (“M&A Securities”) wishes to announce that the Company proposes to undertake the following proposals:

1. proposed bonus issue of warrants (“Warrant(s)”) on the basis of 1 Warrant for every 2 existing ordinary shares in Yew Lee (“Yew Lee Share(s)” or “Share(s)”) held by the entitled shareholders of the Company on an entitlement date to be determined and announced later (“Entitled Shareholders”) (“Entitlement Date”) (“Proposed Bonus Issue of Warrants”); and
2. proposed establishment of an employees’ share option scheme (“ESOS”) of up to thirty percent (30%) of the total number of issued shares of Yew Lee (excluding treasury shares, if any) at any point of time during the duration of the ESOS for the eligible employees and Directors of Yew Lee and its subsidiaries (excluding dormant subsidiaries, if any) (“Group” or “Yew Lee Group”) (“Proposed ESOS”).

Kindly refer to the attachment for further details on the Proposals.

This announcement is dated 25 October 2022.