The Board of Directors of Shanaya Limited announce that its wholly-owned subsidiary, Shanaya Environmental Services Pte Ltd. has on 23 December 2021 signed a business collaboration agreement with TRIA Pte. Ltd. to explore synergistic opportunities in organic recycling (aerobic and anaerobic digestion) for food waste and packaging waste (collectively, "Food Packaging Waste"). The inking of BCA establishes a collaborative framework for both SES and TRIA to enter into a definitive supply and service agreement within 12 months from the date of BCA which shall entail the following: TRIA shall conduct a 6-month trial for the organic recycling of packaging waste and food waste for a fast-food chain ("Trial") whereby waste collection arrangement shall be made for selected outlets in Singapore. Under the Trial, TRIA shall provide digestion technologies including installing an aerobic digester ("Digester") at SES's premises. SES shall provide collection service for the Food Packaging Waste and operate the Digester under the Trial at an agreed fee payable by TRIA.