The Board of Directors of Forise International Limited announced that the Company has received a purchase order from a company that specializes in Internet of Things ("IoT") devices and enterprise infrastructure management software (the "Client"), for the provision of advisory and consultancy services in Singapore, for a contract sum of SGD 63,000 on 11 July 2023. The Company has sent out the acceptance letter to officially confirm the order with the Client on 15 July 2023. Under this purchase order, the Company will provide advice and support on the implementation of a robotics solution for the cleaning industry.

Additionally, the Company will offer system architecture advisory services for integrating robots with the Client's building management system. This includes a feasibility study, software and system design/consulting, hardware sourcing, robotics algorithm design, robotics fleet operating procedures, and post-deployment testing consulting. Payments will be made by the Client as follows: 40% down payment upon receiving the purchase order, 50% progress payment upon completion of the functional checklist, and the remaining 10% progress payment 60 days after the completion of testing and commissioning.

The project is expected to be completed by the end of September 2023, barring any unforeseen circumstances. None of the Directors or substantial shareholders of the Company and their respective associates have any interest, direct or indirect, in this new contract (other than through their respective shareholdings in the Company if any) or the Client.