The Board of Directors (“Board”) of Techfast wishes to announce that its wholly owned subsidiary, Fast Energy Sdn Bhd (“Fast Energy”) had on 2 June 2021 entered into a JVA with Wise Marine Pte Ltd (“Wise Marine”) and Fultonn Marine Sdn Bhd (“Fultonn Marine”) (collectively referred to as the “Parties”) where the Parties have agreed to engaged in joint ventures to purchase suitable product tankers (“Tanker”) and carry out oil and gas trading activities.

Further details of the Joint Venture Agreement are set out in the attachment below.

This announcement is dated 2 June 2021.