Notice of EGM – 249D

Business of the Meeting

Agenda

1. Resolution 1 - Appointment of Mr Qu Guangsheng as a director of the Company

To consider and, if thought fit, to pass, the following resolution as an ordinary resolution:

"That Mr Qu Guangsheng, having consented to act, be elected to the office of director of the Company."

2. Resolution 2 - Appointment of Mr Deng Lian Jun as a director of the Company

To consider and, if thought fit, to pass, the following resolution as an ordinary resolution:

"That Mr Deng Lian Jun, having consented to act, be elected to the office of director of the Company."

3. Resolution 3 - Appointment of Mr Yang Chong Yi as a director of the Company

To consider and, if thought fit, to pass, the following resolution as an ordinary resolution:

"That Mr Yang Chong Yi, having consented to act, be elected to the office of director of the Company."

Dated: 26 October 2021

By order of the Board

Zhiwei Gu

Executive Chairman

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Voting in person

To vote in person, attend the Meeting at the time, date and place set out above.

Voting by proxy

To vote by proxy, please complete and sign the enclosed Proxy Form and return by the time and in accordance with the instructions set out on the Proxy Form.

In accordance with section 249L of the Corporations Act, Shareholders are advised that:

• each Shareholder has a right to appoint a proxy;
• the proxy need not be a Shareholder of the Company; and
• a Shareholder who is entitled to cast 2 or more votes may appoint 2 proxies and may specify the proportion or number of votes each proxy is appointed to exercise. If the member appoints 2 proxies and the appointment does not specify the proportion or number of the member's votes, then in accordance with section 249X(3) of the Corporations Act, each proxy may exercise one-half of the votes.

Shareholders and their proxies should be aware that changes to the Corporations Act made in 2011 mean that:

• if proxy holders vote, they must cast all directed proxies as directed; and
• any directed proxies which are not voted will automatically default to the Chair, who must vote the proxies as directed.

United Kingdom (CREST Voting Instruction)

DI Holders in CREST may transmit voting instructions by utilising the CREST voting service in accordance with the procedures described in the CREST Manual. CREST personal members or other CREST sponsored members, and those CREST members who have appointed a voting service provider, should refer to their CREST sponsor or voting service provider, who will be able to take appropriate action on their behalf.

In order for instructions made using the CREST voting service to be valid, the appropriate CREST message (a "CREST Voting Instruction") must be properly authenticated in accordance with Euroclear's specifications and must contain the information required for such instructions, as described in the CREST Manual (available via www.euroclear.com/CREST).

To be effective, the CREST Voting Instruction must be transmitted so as to be received by the Company's agent (3RA50) no later than 6 December 2021 at 09:00 GMT. For this purpose, the time of receipt will be taken to be the time (as determined by the timestamp applied to the CREST Voting Instruction by the CREST applications host) from which the Company's agent is able to retrieve the CREST Voting Instruction by enquiry to CREST in the manner prescribed by CREST. DI Holders in CREST and, where applicable, their CREST sponsors or voting service providers should note that Euroclear does not make available special procedures in CREST for any particular messages. Normal system timings and limitations will therefore apply in relation to the transmission of CREST Voting Instructions. It is the responsibility of the DI Holder concerned to take (or, if the DI Holder is a CREST personal member or sponsored member or has appointed a voting service provider, to procure that the CREST sponsor or voting service provider takes) such action as shall be necessary to ensure that a CREST Voting Instruction is transmitted by means of the CREST voting service by any particular time.

In this connection, DI Holders and, where applicable, their CREST sponsors or voting service providers are referred, in particular, to those sections of the CREST Manual concerning practical limitations of the CREST system and timings.

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United Kingdom (Form of Instruction)

DI Holders are invited to attend the Meeting but are not entitled to vote at the Meeting. In order to have votes cast at the Meeting on their behalf, DI holders must complete, sign and return the Forms of Instruction forwarded to them along with the Notice to the Company's agent, Computershare UK, by 6 December 2021 at 09:00 GMT.

Should you wish to discuss the matters in this Notice of Meeting please do not hesitate to contact the Company by telephone on +61 8 6205 3012 or +44 (0) 20 3865 8430.

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Explanatory Statement

This Explanatory Statement has been prepared to provide information which the Directors believe to be material to Shareholders in deciding whether or not to pass the Resolutions.

1. Request for appointments of directors of the Company

1.1 General

Pursuant to section 249D(1) of the Corporations Act, a general meeting is required to be called upon the request of a member with at least 5% of the votes that may be cast at a general meeting of the Company. The Directors must call the general meeting within 21 days after the request is given to the Company, and the meeting must be held no later than 2 months after notice of the request has been given to the Company.

As announced on 12 October 2021, the Company received a request from Beijing Sibo Investment Management LP (Requisitioning Shareholder), a holder of at least 5% of the votes that may be cast at a general meeting of the Company, for a general meeting to be held to consider certain appointments of directors of the Company.

The Company has called and arranged to hold the Meeting to consider all the resolutions proposed pursuant to the requests by the Requisitioning Shareholder and in accordance with the provisions of section 249D(5) of the Corporations Act.

Shareholders should note that all Resolutions contained in the Notice have been proposed pursuant to a request from the Requisitioning Shareholder, and not by the Board.

Shareholders should also note that any Director appointment is subject to the approval of the Company's Nomad. This is consistent with the requirements of the AIM Rules for Nominated Advisers which oblige a Nomad to consider any changes to the board of directors the AIM company proposes to make, including: a) investigating and considering the suitability of proposed new directors, and b) considering the effect any changes will have on the efficacy of the Board as a whole for the Company's needs, in each case having in mind that the Company is admitted to trading on a UK public market.

If the Nomad is not comfortable with the appropriateness of a proposed Director or the efficacy of the Board as a whole as a result of the proposed changes then such changes should not be made.

Following ongoing discussions, the Company's Nomad (WH Ireland Limited) has advised the Directors that it has yet to conduct it investigations of the individuals proposed as directors and there is a risk it would conclude it does not believe the Company is appropriate to be admitted to trading on AIM if the proposed board changes set out in the Company's circular were affected. Accordingly, if the board changes set out in this Notice are approved the Company's Nomad may tender its resignation with immediate effect.

Pursuant to Rule 1 of the AIM Rules for Companies if a Company ceases to have a Nomad the Exchange will suspend trading in its AIM securities with immediate effect. If a new Nomad is not appointed within one month of the date of resignation of the original Nomad, this will result in the Company's ordinary shares being delisted from AIM and the Company's admission to AIM being cancelled.

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