On 29 March 2022, OCI International Holdings Limited (the Company) entered into a non-legally binding strategic cooperation agreement (the "Agreement") with Beijing Bicai Big Data Technology Company Limited (the "Beijing Bicai") and Bicai Big Data Technology (HK) Company Limited (the "BicaiHK"). Pursuant to the Agreement, the cooperation may be in form, including but not limited to, i) establishing a jointly owned company in Hong Kong; ii) applying digital asset service provider in Malaysia, and the letter of intent for relevant application has also been signed on the same date; and iii) developing cross-border payment system of digital currency, etc. The substance, terms and conditions of such relationship are still under negotiations between the parties.

Beijing Bicai and its subsidiaries (collectively, the "Bicai Group") are engaged in digital technology research and development and business. Bicai Group is a leading banking wealth management cloud system in China. Bicai Group provides BaaS platform, SaaS services, Open API connectivity and other technologies for digitalisation of wealth management for banks and financial subsidiaries, thus empowering and enabling banks to achieve digital wealth management.

A wholly-owned subsidiary of the Company has established a new joint venture company in Cayman Islands (the "JV") with Mr. Deng Hong Wei, a well-known software engineer and other investors, to collaborate on a Web 3.0 data real-time analysis and integration project (the "Project").