Reference is made to the Company’s announcement made 6 August 2020 in relation to the MOU. Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcement dated 6 August 2020.

The Board of Directors of Advancecon Holdings Berhad (“Advancecon” or “the Company”) wishes to announce that Advancecon Solar Sdn Bhd (“Adv Solar”), a wholly-owned subsidiary of the Company and Mydin have on 2 April 2021 mutually agreed to terminate the MOU with immediate effect after taking into consideration of infeasibility of the project (“Termination”).

Upon the Termination, the MOU shall have no further force or effect and neither party shall have any claim whatsoever against the other, whether directly or indirectly in respect of the MOU.

The Termination will not have any material financial impact on Advancecon.

This announcement is dated 5 April 2021.