LS 2 Holdings Limited announced that the Company, had on 2 September 2022 entered into a non-binding memorandum of understanding with TEMASEK POLYTECHNIC ("TP") in relation to establish a working relationship on the provision of training and consultancy service in digitalization and industrial transformation for the Environmental Services industry. The Group and TP (jointly referred to as the "Parties" and singular as "Party") agree to collaborate in activities for the following areas: Development and commercialization of innovative engineering solutions in the area of environmental services; and Curation and delivery of Continuing Education & Training ("CET") courses and training materials in process, technology and organisation aspects of digitalisation and industrial transformation. Whilst the MOU is not legally binding, the MOU sets out expression of the current intention of the Parties, and neither Party will incur nor be bound to any legal obligation or expense hereunder to the other Party until and unless a definitive agreement is negotiated, approved by the necessary management levels of each Party and executed and delivered by authorized representatives of both Parties.

Further announcements will be released via SGXNet as and when there are material developments. TP is neither a shareholder of the Company nor related to the Company and its subsidiaries or any of their respective directors, executive officers, and substantial shareholders. None of the Directors, controlling shareholders or substantial shareholders of the Company has any interest, direct or indirect, in the MOU, other than through their respective shareholdings in the Company.