On behalf of the Board of Directors of Reneuco, UOB Kay Hian Securities (M) Sdn Bhd is pleased to announce that Reneuco RE Sdn Bhd ("Reneuco RE"), a wholly-owned subsdiary of Reneuco, had on 19 October 2022, entered into a conditional share sale agreement ("SSA") with OHP Ventures Sdn Bhd for the acquisition by Reneuco RE of 10,000 ordinary shares in Adat Sanjung Sdn Bhd ("ASSB"), representing the entire equity interest in ASSB, for a purchase consideration of RM90,000,000, to be satisfied via a combination of a cash payment of RM20,000,000 and the allotment and issuance of 318,181,819 new ordinary shares in Reneuco ("Consideration Share(s)") at an issue price of RM0.22 per Consideration Share, subject to the terms and conditions contained in the SSA ("Proposed Acquisition").

Further details of the Proposed Acquisition are set out in the attachment enclosed.

This announcement is dated 19 October 2022.