The Board of Directors of Wellspire wishes to announce that Bai Li Enterprise Co., Ltd. (“Bai Li Enterprise”), a 75.01% owned subsidiary of the Company had on 23 March 2023 entered into a distribution agreement with HH International Enterprise Limited (“HH”), which shall be for the period from 23 March 2023 to 31 December 2023 (“Agreement”).

Bai Li Enterprise has been appointed by HH as the exclusive distributor of “WEILONG” brand products, where the products supplied by HH will only be marketed, distributed and sold by Bai Li Enterprise in Thailand.

Further details of the above are set out in the attachment.

This announcement is dated 23 March 2023.