erex Co. Ltd. announced that the groundbreaking ceremony was held on March 6, 2024 in Vietnam for the wood pellet plant "erex Sakura Biomass Tuyen Quang Plant" (hereinafter referred to as "the Project"), which the Company had been planning in the country of Vietnam. The main objective of the Project is to collect unused wood residues in Vietnam, process them into pellets, and sell them outside of Vietnam, mainly to Japan.

The Company believes that the implementation of the Project will contribute to de-carbonization, job creation for local residents in Tuyen Quang Province, and improvement of energy self- sufficiency. The ceremony was attended by about 90 people, including Mr. CHAU VAN LAM, General Secretary of the Communist Party, and other related parties. Business Operation: erex Sakura Biomass Tuyen Quang Plant.

Location: Tuyen Quang Province, Vietnam. Total Investment Amount: USD 20,400,000. Production Capacity: 150,000 tons/year.

Start of Operation: December 2024 (scheduled).