INTRODUCTION

The Board of Directors of Bioalpha Holdings Berhad (“Bioalpha” or “the Company”) wishes to announce that its wholly-owned subsidiary, Bioalpha International Sdn. Bhd. (“BISB”) had on 2 December 2020 entered into a Collaborative Agreement (“CA”) with Ritamix Global Limited (“Ritamix”) for BISB to manufacture and supply health supplement products for Ritamix to market in China (including Hong Kong) and South East Asia.

INFORMATION ON RITAMIX

Ritamix Global Ltd is a company listed on the main market of Hong Kong Stock Exchange (“HKEX”) with more than 37 years of track record, principally engaging in (i) distribution of animal feed additives and, to a lesser extent, human food ingredients; and (ii) manufacturing of animal feed additives premixes. The Company sourced over 300 brand products from over 70 suppliers of different brand names to promote and distribute their products in Malaysia. They also produced over 150 own brand animal feed additives premixes for sales in Malaysia and overseas.

SALIENT TERMS OF THE CA

Pursuant to the CA, BISB will act as the contract manufacturer for Ritamix in the development of health supplement products not limited to immunity and longevity products. The products are formulated and owned by Ritamix. Ritamix shall market and distribute the products in China (including Hong Kong) and South East Asia.

RATIONALE

The CA being incurred is part of the ordinary course of business.

INTERESTS OF DIRECTORS AND/OR SUBSTANTIAL SHAREHOLDERS AND/OR PERSON CONNECTED THEM

None of the Directors nor major shareholders of Bioalpha, or persons connected with them, has any interest, direct or indirect, in the CA.

FINANCIAL EFFECTS

The CA will not have any effect on the issued share capital and the substantial shareholders’ shareholdings in Bioalpha as the CA does not involve any issuance of new shares of Bioalpha. It is also not expected to have material effect on the net assets and gearing of Bioalpha Group for the financial year ending 31 December 2020.

APPROVAL REQUIRED

The CA is not subject to the approval of the shareholders of Bioalpha or any regulatory authorities.

STATEMENT BY BOARD OF DIRECTORS

The Board of Director of Bioalpha, having taken into consideration all aspects of the CA is of the opinion that the CA is in the best interest of Bioalpha Group.

This announcement is dated 2 December 2020.