Worldgate Global Logistics Ltd. announced is in advanced discussions to establish a joint venture with Suiyong Int'l Co., Limited. It is intended that the JV Company will be established by the Company and Suiyong Int'l with a shareholding ratio of 51:49, respectively, and that the JV Company will become the general partner of a limited partnership fund ("LPF") to be set up in accordance with the Limited Partnership Fund Ordinance. The parties intend that the LPF will mainly be engaged in the investment in the field of green energy and environmental protection, including asset-backed securities of green energy projects, such as projects developed pursuant to the Company's collaboration with Shuifa Huaxia Group Co.

Ltd. under the memorandum of understanding entered into between the Company and Shuifa Huaxia on 25 January 2022.