The Board of Directors of KPower ("Board") wishes to announce that the Company’s wholly-owned subsidiary, Powernet Industries Sdn. Bhd. had on 14 June 2022 entered into a sale and purchase agreement with Magnitude Resources Sdn. Bhd. (“MRSB” or “Purchaser”) for the proposed disposal of industrial land held under Lot 10231, GM 7196, Mukim Bentong, Daerah Bentong, State of Pahang, together with buildings erected thereon (including fixtures and fittings) bearing postal address No. 53, 3 ¾ Mile, Jalan Bentong-Kuala Lumpur, 28700, Bentong, Pahang, for a total cash consideration of Ringgit Malaysia Twelve Million (RM12.0 million) only.

Please refer to the attachment for further details.