On behalf of the Board of Directors of HEB ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company intends to undertake-

i) Proposed bonus issue of up to 181,241,384 free warrants in HEB ("Warrant(s) B") on the basis of 1 Warrant B for every 3 existing ordinary shares in HEB ("HEB Share(s)" or  "Share(s)") held by shareholders of the Company whose names appear in the Record of Depositors of the Company on an entitlement date, to be determined and announced later ("Entitlement Date") ("Proposed Bonus Issue of Warrants"); and

ii) Proposed private placement of up to 20% of the total number of issued HEB Shares at a up to 20% discount to the 5-day volume weighted average price ("VWAP") to third party investor(s) to be identified later, at an issue price to be determined and announced later ("Proposed Private Placement").

(Collectively referred to as the "Proposals").

Further details of the Proposals are set out in the attachment enclosed.

This announcement is dated 17 August 2022.