The Board of Directors of ManagePay Systems Berhad announced that the Company had on 20 July 2023 entered into a Memorandum of Understanding with PT Finnet Indonesia and Eddid Financial Holdings Limited to form a tripartite partnership to explore capital markets and the financial technologies opportunities Fintech in Indonesia and the Parties have also agreed to further determine the terms and conditions to establish a joint venture in Indonesia as respective vehicle and licence to implement the Purposes and other commercial arrangements and agreements to be reached. Finnet has appointed MPay as the agent for the payout partner (money forwarder) for outbound remittance from Indonesia to Eddid and for inbound remittance from Eddid to Indonesia. Salient Terms of the MOU: 3.1 Eddid shall market the new financial social network application of Eddid, ViV (or any other name to be able to register in Indonesia, and the application under development whereas, of the date of the MOU a prototype), in Indonesia and by cross-linking ViV with Finnet?s e-payment application (Finpay).

3.2 Finnet has the right in Indonesia to provide cross-border remittance service to Indonesian clients of Eddid or its respective licensed entity when they open securities trading accounts with Eddid ONE, being Eddid?s multi-assets trading application. 3.3 Finnet shall appoint (as a partnership scheme) MPay as the agent for the payout partner (money forwarder) for outbound remittance from Indonesia to Eddid and for inbound remittance from Eddid to Indonesia. 3.4 This MOU shall be in effect for a period of one (1) year upon signing, or until formal agreements are signed at which time this MOU shall be superseded.