Reference is made to the Company’s initial public offering ("IPO”) prospectus dated 27 December 2022 (“IPO Prospectus”), that was issued in conjunction with the listing of and quotation for the Company’s entire issued share capital on the ACE Market of Bursa Malaysia Securities Berhad on 16 January 2023.

The Board of Directors of Wellspire (“Board”) wishes to announce that after due deliberation, the Board has resolved to extend the timeframe for utilisation of proceeds from the IPO (“IPO Proceeds”) of RM5.96 million allocated for working capital for an additional 12 months up to 15 July 2024 (“Extension of Time”).

Further details of the Extension of Time are set out in the attachment.

This announcement is dated 28 August 2023.