Announcement regarding staff benefits and management

Announcement

12 July 2023

As it appears in some media that Bitkub has reduced a number of employees as well as some staff benefits, Bitkub Capital Group Holdings Company Limited (“Company”) would like to clarify that due to the overall economy that has been in a downturn and is in a sluggish state, it has widely affected the business operators. The Company and its affiliates (“Bitkub Group”) hereby adjusted the policy for managing expenses of the Bitkub Group in order to ensure that the business management of the Bitkub Group is consistent and suitable for the current situation.

However, please be informed that the reduction ratio of employees is small compared to the total number of employees in the Bitkub Group. As for Bitkub Online Co., Ltd. (“Bitkub Online”), the reduction rate is 1.81% of the total number of employees in Bitkub Online, while the rate of its affiliates in the Bitkub Group is 5.47% of the total number of employees in the Bitkub Group (other than Bitkub Online). The adjustment of staff benefits as reported in some media is only a partial reduction from other various benefits that the Company provides to its employees.

The Bitkub Group has always handled and taken into account cost-saving measures inside the Bitkub Group with honesty and transparency, while also always taking the interests of its stakeholders and employees into consideration. The Bitkub Group has also considered the approach that will have the least impact on the employees. However, as we have no control over the external factors, numerous business operators might have also been impacted which the Company is monitoring the situation actively. The Bitkub Group will continue to adhere to the principles of good corporate governance and consider all relevant stakeholders, all valued customers, and employees. Please remain confident in the business of the Bitkub Group.

Best Regards,

Bitkub Capital Group Holdings Company Limited

On bahalf of Bitkub Group