PRESS RELEASE AUGUST 19, 2024 In response to Justice For Myanmar’s report, Singapore Stock Exchange Regulation took regulatory actions against ETC on February 26 2021 and the company suspended trading. To address questions from the SGX regulator, ETC commissioned independent reviews into payments to the Myanmar military and its legal compliance. In October 2021, Justice For Myanmar and the Australian Centre for International Justice published a legal memo from international law experts Felicity Gerry KC, International Criminal Court counsel, and Daye Gang of the Victorian Bar in Australia, which found that international law and guidance places due diligence obligations on the Singapore Stock Exchange and possible associated liability in international law on the Monetary Authority of Singapore and the Singapore Government for companies doing business with the Myanmar military. The legal memo found that Singapore has an international legal obligation “to investigate, prevent and cease transactions that amount to wrongful acts”, which are applicable to business transactions with the Myanmar military and its business interests, and that legal remedies would be “easily pursued and enforced” against SGX if the Myanmar military’s financial organs are found to be in breach of international laws and/or compliance regulations, including international human rights and humanitarian law. In July 2023, ETC announced that they had entered into a sales agreement with the Singapore company, Grand Ally Investments, and recently extended the long-stop date to December 31, 2024. As ETC and Grand Ally are both registered in Singapore, Singapore remains exposed to Golden City’s business with the Myanmar military, which helps fund its ongoing war crimes and crimes against humanity. We urge Singapore to impose sanctions on the junta and its business interests and to prevent continued payments to the Myanmar military from ETC and successor investors in Golden City. If it fails to act, Singapore and its financial entities and private Singaporean financial institutions risk asset freezes as ETC’s money and assets move through US financial institutions. Governments should impose sanctions on ETC’s Myanmar partner, Jewellery Luck Group of Companies, and their owners and directors, because of their continued business relationship 2