The Board of Directors of YKGI Limited announced that the Company had, on 9 March 2023, entered into a non-binding memorandum of understanding ("MOU") with Pin Si Kitchen Pte. Ltd. ("Pin Si Kitchen") to establish a working relationship between Pin Si Kitchen and the Group (singularly, "Party" or jointly as "Parties") agree to collaborate in activities for the following areas: the manufacturing of cooked food preparations (e.g. frozen dinners) business; the food catering business; and any merger or acquisition opportunities. Whilst the MOU is not legally binding, the MOU sets out an expression of the current intention of the Parties, and neither Party will incur nor be bound to any legal obligation or expense hereunder to the other Party until and unless a definitive agreement is negotiated, approved by the necessary management levels of each Party and executed and delivered by authorised representatives of both Parties.

If necessary and the situation arises, the Parties shall, negotiate in good faith, and use reasonable endeavors to enter into definitive agreements in the future.