On March 14, 2023 Pole to Win Holdings, Inc. stated in its press release that it had decided to oppose the proposals presented by Dalton Investments LLC. (i) Regarding proposal on acquisition of Treasury Stock, the company believes that share buyback as suggested in the proposal would result in decline of financial stability, loss of investment opportunities, reduction of number of shares in circulation, among other disadvantages and would not be appropriate, (ii) Regarding amendment to articles of incorporation, the company stated that appointment of independent outside directors will not lead to an improvement in effectiveness of Board of Directors and believes that it is not appropriate to add this proposal to the Articles of Incorporation which are the fundamental rules of the company.