DATAPULSE TECHNOLOGY LIMITED ANNUAL

Letter to Shareholders

CHAIRMAN’S STATEMENT Dear Shareholders, On behalf of the Board of Directors (the “Board”) of Datapulse Technology Limited (the “Company”, together with its subsidiaries, collectively the “Group”), I am pleased to present the Annual Report for the financial year ended 31 July 2024 (“FY2024”). I am glad to report that this year marks a significant turnaround for the Group as we have successfully emerged from a loss-making position. The resilience and dedication of our team have allowed us to navigate the challenges of recent years, particularly those posed by the COVID-19 pandemic, which directly affected our hospitality assets, including our wholly-owned hotel, Travelodge Myeongdong City-Hall (“TLMC”) in Seoul, South Korea. We also hold a 15% stake in another hotel investment in Seoul, Travelodge Myeongdong Euljiro (“TLME”), and a 5% stake in Travelodge Harbourfront Singapore (“TLHS”). Nonetheless, we remain committed to protecting shareholder value, as I am the largest shareholder and hold the majority of the stake. DIVIDEND Given that the Group has recently emerged from a BUSINESS OUTLOOK loss-making position in FY2024, it continues to be The hospitality industry in South Korea has mindful of the need to conserve cash to fund its demonstrated promising growth, driven by an increase operations and to take advantage of any opportunities in international tourism and a rising demand for leisure that may arise. The Board is not recommending the and travel experiences. Additionally, the domestic payment of a dividend for FY2024. market continues to evolve, with local hotel guests increasingly interested in diverse and unique offerings. APPRECIATION On behalf of the Board of Directors, I would also like However, the Group faces ongoing challenges, including to extend my sincere appreciation to our directors, foreign exchange risks, rising labour costs, inflationary our shareholders, business partners, and all our pressures, competition from neighbouring countries, stakeholders for their support. I would also like to and geopolitical uncertainties that may affect South thank our management team for their hard work and Korea’s tourism sector. In response, the Group will dedication. maintain its focus on enhancing hotel revenue while actively implementing strategies to manage cost pressures without compromising the quality of services provided to our guests. Furtherm