On March 30, 2023, The Board of IOUpay Limited announced that it has received a notice signed by Clee Capital Pty Ltd, Finran Pty Ltd, Liquipure Aust Pty Ltd, Rookesbury Pty Ltd, First State Pty Limited, the notice states that Clee Capital Pty Ltd is requisitioning a shareholder?s meeting under section 249D of the Corporations Act 2001. The Company stated that the notice requests the Company to hold a general meeting to consider the resolutions: (1) to remove the individuals, Lee Chin Wee, Dato Khairul Idham Bin Ismail, Paul William Russell, and Chong Kwong Yang as Directors of the Company and (2) to appoint the individuals, Gregory Woszczalski, David William Halliday, and Mohammad Azizuddin Shahruddin as Directors of the Company. In addition, the Company stated that the notice of requisition also included a resolution for the removal of Dato?

Wan Asmadi Wan Ahmad as a Director, who resigned as a director on March 5, 2023, so it has not been included in the Notice of Meeting. The Company recommends shareholders to vote against all the resolutions at the Company?s special meeting of shareholders scheduled to be held on May 3, 2023.