Reference is made to the Company’s announcements dated 15 July 2020, 14 August 2020, 17 September 2020, 15 October 2020 and 13 November 2020 in relation to the Investment and Collaboration Joint Venture Agreement (“Announcement”). Unless otherwise defined, the definitions set out in the Announcement shall apply herein.

The Board of Directors of MQ Tech wishes to announce that MQ Tech and JD Resources had mutually agreed to terminate the Agreement dated 15 July 2020 due to the Parties are unable to obtain the consent from the potential seller.

This announcement is dated 15 December 2020.