The Board announced that on 2 March 2023 (after trading hours), the Company and MMML, an indirect wholly-owned subsidiary of the Company entered into the Collaboration Agreement with the Sonora Government and H. City Hall in relation to a proposed infrastructure investment project to construct and develop infrastructures, including factory, warehouse, residential units, roads, and other relevant infrastructure, at the land of 150 hectares situated in Mexico as provided by H. City Hall within a period of five years. Under the Collaboration Agreement, it is intended that the Land shall be transferred to a fiduciary fund to be created in Mexico and formalized by means of a trust arrangement (the Trust). The Trust shall be controlled by the Mainland Companies in favour of H. City Hall for a period of five years (the "Fulfillment Period") and to utilize the Land for the following purposes (a) constructing and operating a factory of more than 150,000 sq.ft.

with at least 800 employees within the first 24 months; (b) constructing a warehouse of more than 200,000 sq.ft. within the second 24 months; and (c) commencing the construction of residential units, roads and infrastructure, fences and walls at the Land in the last 12 months.