Reference made to the announcement made by Dagang NeXchange Berhad (“DNeX” or the “Company”) in relation to the Memorandum of Understanding (“MOU”) with Ajlan & Bros Holding Group [Registration No. 1010433031] on 27 June 2022, the Board of Directors (the “Board”) of DNeX wishes to announce that the Company had on 29 August 2022 entered into a MOU with Ajlan & Bros Holding Group (collectively referred to as the “Parties” and each a “Party”) with the intent to explore initiatives in semiconductor manufacturing.

Notwithstanding the above, the MOU dated 27 June 2022 between the Parties will continue to be in effect as the Parties are continuously exploring the possibility to enter into join arrangements in the following areas:

a) Technology sector;

b) Software products and platforms for facilitating trade;

c) Oil and gas production and trade; and

d) Software development and system integration and consultation services.

Please refer to the attachment for further details.

This announcement is dated 29 August 2022.