The Board of Directors of Dagang NeXchange Berhad announced that the Company had on 27 June 2022 entered into a Memorandum of Understanding with Ajlan & Bros Holding Group with the intent to explore the possibility of entering into joint arrangements in the following areas Technology sector, Software products and platforms for facilitating trade, Oil and gas production and trade and Software development and system integration and consultation services. The entry into the MOU forms a basis of commitment to the Parties to create a mutual understanding of the strategy and business needs of all organizations to enable broader understanding for the benefits and opportunities of working with each other and how the Parties can leverage on each other's expertise to explore the possibility of entering into a joint arrangement for the Collaboration. a) The Parties will endeavour to negotiate to enter into a formal agreement, in the terms and conditions to be mutually agreed by the Parties.

b) Either Party may nominate its related entities to participate in the joint arrangements and/or enter into any formal agreement. c) The MOU shall not give rise as a commitment and/or an offer by any of the Parties or their related entities to enter into any formal agreement for the joint arrangements. The MOU shall not bind DNeX, Abilitii nor any of their respective related entities to enter into any formal agreement with each other.

(d) Once the objective of the MOU has been fulfilled, the Parties will consider entering into: i) A Joint Venture Agreement to establish a joint venture in the Kingdom of Saudi Arabia to achieve the objectives. The Parties will leverage their own strengths and contribute financial resources, technical capabilities, and client relationships to support the formation and growth of the joint venture in each respective sector presented above upon successful conclusion of the objective of the MOU for the respective sector; or ii) A Subscription Agreement to establish investment by Abilitii on specific venture undertaken by DNeX through issuance of new shares in DNeX's respective business venture which in turn will result in Abilitii being a shareholder in the respective venture whereby the proceeds from such subscription will be utilized by DNeX for the purpose that will be agreed between both Parties; or any other business arrangement that benefits both DNeX and Abilitii. The MOU is valid for a period of one (1) year from 27 June 2022 and may be further extended by mutual agreement in writing by the Parties.