WMSHIPYARD Corporate Disclosure — 17 December 2019

Emphasis of Matter: (1) Without qualifying our opinion, we draw attention on the matter disclosed: As disclosed in the note no. 6, in the financiall statements, Inventories balance has been shown as Tk. 3,642,680,992 resulting from valuation of Inventories at the year end as certi?ed by the management. Due to inherent limitation involved in performing such valuation to determine market value of inventories held at the reporting date, management used average cost instead of cost (cont.1)