The board of directors (the "Board") of MMP Resources Limited (the "Company", together with its subsidiaries, the "Group") announced that the Company has on 11 June 2020 entered into a loan agreement (the "Loan Agreement") with Solar Founders Limited (the "Lender") in connection with the grant of a loan of SGD 272,000 to the Company (the "Loan"). The Lender is a private company limited by shares incorporated in Cayman Islands. The Lender holds 29% of the shares in the issued and paid-up share capital of Alliance Brands Limitedwhich in turns holds all the shares in the issued and paid-up share capital of Operation Alliance Global Limited. As at the date of this announcement, the Lender, Alliance Brands Limited and Operation Alliance Global Limited do not hold any shares in the Company. As at the date of this announcement, the director of the Company, Jason N Block, holds 25% of the interests in the Lender. The remaining 75% interests in the Lender are held by Marzio Keiling and Clay Kinney. The aforesaid director, Jason N Block, is also a shareholder of Maiora Asset Management Pte. Ltd., holding 24% of the issued share capital of Maiora Asset Management Pte. Ltd. (excluding treasury shares). Maiora Asset Management Pte. Ltd. is a registered fund management company based in Singapore, and manages Maiora Asian Structured Finance Segregated Portfolio, a substantial shareholder of the Company. The Company's entry into the Loan Agreement is beneficial to the Company and will help finance the Group's working capital and current operations. Principal Amount SGD 272,000 Interest. The Loan shall bear interest at 18% per annum and can be paid in kind or in cash.