{"url_path":"/sec/wbuy/10-k/2026/item-16g","section_key":"item-16g","section_title":"Item 16G Corporate Governance**","topic":"sec","document":{"doc_type":"20-F/A","doc_date":"2026-05-13","source_url":"https://www.sec.gov/Archives/edgar/data/1946703/0001213900-26-055484-index.html","accession_number":"0001213900-26-055484","cik":"0001946703","ticker":"WBUY","issuer_name":"WEBUY GLOBAL LTD","edgar_url":"https://www.sec.gov/Archives/edgar/data/1946703/0001213900-26-055484-index.html","primary_entity_key":"0001946703","primary_entity_name":"WEBUY GLOBAL LTD"},"word_count":536,"has_tables":true,"body_markdown":"**Item\n16G. Corporate Governance**\n\n \n\nAs a company listed on the Nasdaq Capital Market,\nwe are subject to the Nasdaq corporate governance listing standards. However, Nasdaq Listing Rule 5615(a)(3) permits a foreign private\nissuer like us to follow the corporate governance practices of its home country in lieu of certain requirements of the Nasdaq Listing\nRules. Certain corporate governance practices in the Cayman Islands, which is our home country, may differ significantly from the Nasdaq\ncorporate governance listing standards.\n\n \n\nOn November 26, 2025, we obtained a home country\npractice opinion from our Cayman Islands counsel, Conyers Dill & Pearman Pte. Ltd., pursuant to Nasdaq Listing Rule 5615(a)(3), permitting\nus to follow Cayman Islands home country practice in lieu of certain Nasdaq corporate governance requirements.\n\n \n\nAlthough we are permitted to rely on such home\ncountry practice exemptions, we currently comply with certain Nasdaq corporate governance requirements, including Rule 5605(b)(1), which\nrequires that a majority of our board of directors be independent, and Rule 5605(c), relating to audit committee composition and independence\nrequirements. In addition, our audit committee complies with Rule 10A-3 under the Exchange Act.\n\n \n\nWe currently follow home country practice in lieu\nof certain Nasdaq corporate governance requirements, including:\n\n \n\n(i)Rule 5605(b)(2), which requires regularly scheduled meetings at which only independent directors are present;\n\n \n\n(ii)Rule 5605(e), which requires director nominees to be selected or recommended solely by independent directors\nor a nominations committee comprised solely of independent directors;\n\n \n\n(iii)Rule 5620(a), which requires listed companies to hold an annual meeting of shareholders within one year\nafter the end of each fiscal year. We did not hold an annual general meeting of shareholders in 2025, although we held an extraordinary\ngeneral meeting of shareholders on March 21, 2025;\n\n \n\n(iv)Rule 5620(b), relating to proxy solicitation and proxy statements for shareholder meetings;\n\n \n\n(v)Rule 5620(c), relating to quorum requirements for shareholder meetings;\n\n \n\n(vi)Rule 5630(a), relating to the review and oversight of related party transactions by an independent body\nof the board of directors;\n\n \n\n(vii)Rule 5635(a), relating to shareholder approval requirements for certain issuances in connection with acquisitions\nof stock or assets of another company;\n\n \n\n(viii)Rule 5635(b), relating to shareholder approval requirements for issuances resulting in a change of control;\n\n \n\n(ix)Rule 5635(c), relating to shareholder approval requirements for equity compensation plans and arrangements;\nand\n\n \n\n(x)Rule 5635(d), relating to shareholder approval requirements for certain issuances of 20% or more of our\noutstanding ordinary shares or voting power at a price less than the minimum price as defined under Nasdaq rules.\n\n \n\nIn the future, we may rely on other home country\npractice exemptions available to foreign private issuers under Nasdaq rules. Because we chose to certain follow home country practices,\nour shareholders will be afforded less protection than they otherwise would enjoy under Nasdaq corporate governance listing standards\napplicable to U.S. domestic issuers.\n\n \n\nSee “Item 3. Key Information - D. Risk Factors\n- Risks Related to Our Capital Structure and Class A Ordinary Shares - We are a foreign private issuer within the meaning of the rules\nunder the Exchange Act, and as such we are exempt from certain provisions applicable to U.S. domestic public companies” and “Item\n6. Directors, Senior Management and Employees – 6.C. Board Practices - Foreign Private Issuer Exemption.”\n\n \n\n2\n\n \n\n**PART III**"}