On behalf of the Board of Directors of Greenyield, Hong Leong Investment Bank Berhad wishes to announce that the Company had on 21 March 2022 entered into the following:

(i) a conditional share sale agreement (“SSA”) for the acquisition by the Company of 11,700,000 ordinary shares in GRHM, representing 65.0% equity interest in GRHM, from Greenyield Holdings Sdn Bhd (“GHSB”), Premium Commodities Sdn Bhd, Tham Foo Keong, Tham Foo Choon, Tham Kin-On and Foong Sai Cheong for a purchase consideration of up to RM87,809,653, subject to the adjustments as set out in the SSA (“Proposed Acquisition”); and

(ii) a shareholders’ agreement with GHSB (being a shareholder of GRHM which will hold the remaining 35.0% equity interest in GRHM upon completion of the Proposed Acquisition), to record certain commitments and regulate their rights as shareholders of GRHM.

In addition, the Company is also proposing to amend the existing constitution of the Company to facilitate the creation and issuance of the ICPS (as defined in the attachment) pursuant to the Proposed Acquisition (“Proposed Amendments”).

(The Proposed Acquisition and Proposed Amendments are collectively referred to as the “Proposals”.)

Please refer to the attachment for further details on the Proposals.

This announcement is dated 21 March 2022.