We refer to the announcements dated 20 June 2022 and 24 June 2022 in relation to the Redeemable Preference Shares Subscription Agreement. Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

The Board of Directors' of MQ Tech wishes to announce that the 8% pa is the coupon rate. As for the redemption amount is the principal amount plus interest of 8% pa.

The announcement is dated 29 June 2022.