Raffles subsidiary changes name to Raffles FinTech

Ms. Monita Faris reports RAFFLES FINANCIAL SHAREHOLDERS UPDATE Raffles Financial Group Ltd. has given shareholders an update of the company. Change of company name of a subsidiary -- Raffles FinTech Ltd. (RFT). The company's wholly owned subsidiary, incorporated in Hong Kong, OakTree Financial Ltd., has changed its name to Raffles FinTech Ltd. with approval from the Hong Kong company registry with effect from July 1, 2025. The change of company name is to reflect the business of the subsidiary. RFT's focus is to provide advisory and arrangement services for trade-finance facilities needed by fast-growing companies. RFT curates financing solutions to help clients finance procurement of products to fulfill sales orders and to monetize accounts receivable with factoring and bill discounting. The goal of RFT services is to help clients take on larger sales orders and enjoy a positive cash flow position. RFT currently has two major clients, one in stem cell biotech and the other in medical facility construction, that have signed on three-year advisory and arrangement service contracts. Clients are required to pay a one-time sign-on service fee to set up their supply chain financial system and also to pay a 2-per-cent monthly service fee based on the quantum of funds arranged. The company has also streamlined the corporate strategy advisory business under RFT as there is significant synergy in client servicing and cross-selling opportunities. RFT has signed up four clients to provide them with corporate strategy development and reorganization services. Clients pay a monthly retainer and a success fee when they achieve certain agreed milestones, such as uplisting on a main stock exchange and security tokens listed on a recognized digital asset exchange or listed as a public company on a major bourse. The RFT consulting team, headed by chief consulting officer Prof. Kevin Lou, has offices in Hong Kong, Shenzhen and Singapore. The team assists Dr. Charlie In, lead strategist for the corporate strategy advisory unit, in planning, designing, implementing and monitoring reorganization works for clients. The sales and purchase agreement initially signed between Xu Zhiyang and Raffles Financial Pte. Ltd. (RFP) on Nov. 4, 2022 (which had subsequently been novated by RFP to the company on July 31, 2023), was eventually novated and signed between Prof. Lou and the company on July 2, 2025. The company has agreed to this novation as it is in the best interest of the company for Prof. Lou to deliver the specific performance as spelt out in the SPA. Prof. Lou has demonstrated to the company without doubt that he and his team are able to achieve the business and profit objectives of the SPA. This is an announcement to keep shareholders updated on the activities of RFT, and it is not a statement or forecast on the company and RFT performance. About Raffles Financial Group Ltd. Raffles is listed on the Canadian Securities Exchange purchasable under the stock symbol RICH. We seek Safe Harbor.