The Board of Directors of Artroniq Berhad announced that Artroniq and/or its nominated subsidiary had on 15 March 2023 accepted a letter of award from Panda Commercial Bank PLC based in Cambodia for the research and development blockchain based financial services including but not limited to the development of the basic blockchains, functional API, web and mobile related solutions applicable for Panda Commercial Bank ("Contract"). The agreed price for the Contract shall be USD 10,000,000.00 (inclusive of withholding tax of 14%) ("Contract Price"). The scope of work shall be as follows: a) Planning and Analysis.

Documentations & requirements gathering stage prior to the start of work. b) Design. Requirements are elaborated into charts and all details related to the software development need to be determined and approved before start of work.

c) Development. Setting up development team and the necessary infrastructure such as servers, software and other equipment required. Development of the agreed requirements into actual products.

d) Responsible for product testing and user acceptance testing (UAT). e) Ensure successful product deployment upon the product approval by end users. f) Responsible for product maintenance and support to ensure minimal downtime for period of 3 months upon product launching.

The tenure of the Contract is 2 years starting from 15th March 2023 to 31st March 2025. The Contract may be terminated at any time by either party upon 60 days written notice to the other party.