Pursuant to Paragraph 10.06 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("MMLR"), the Board of Directors of RUBBEREX ("Board") wishes to announce that Rubberex Alliance Sdn. Bhd. (Registration No. 200501014917 (691964-A)) ("RASB" or "the Purchaser"), an indirect wholly-owned subsidiary of the Company, has on 20 November 2020 entered into a Sale and Purchase Agreement ("SPA") with Prisma Lengkap Sdn. Bhd. (Registration No. 199401013617 (299297-X)) ("Prisma" or "the Vendor") to acquire the following two (2) parcels of leasehold land held under:

(a) HS(D) 164003, PT 34587, Mukim Sungai Terap, Daerah Kinta, Negeri Perak measuring approximately 35,260 square meters; and

(b) HS(D) 164000, PT 34584, Mukim Sungai Terap, Daerah Kinta, Negeri Perak measuring approximately 12,839 square meters;

for a total cash consideration of RM11,390,133.26 ("Purchase Price") ("the Proposed Acquisition")

Please refer to the attached for further details.

This announcement is dated 20 November 2020.