The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcement in relation to the HOA.

Reference is made to the announcement dated 13 May 2022 (“Announcement”).

The Board of Directors of IWCity wishes to inform that IWCity and KB had, on 3 November 2022, mutually agreed to extend the effective period of the HOA for another six (6) months, commencing from 13 August 2022 till 12 February 2023, subject to any further extension as may be mutually agreed upon between the parties ("Extension"). The Extension will provide the parties more time to finalise the terms and conditions of the Definitive Agreement(s) for the sale and purchase of all that parcel of freehold land held under Geran Hakmilik No. 90585, Lot No. 733, located in the Mukim of Pulai, District of Johor Bahru, State of Johor.

Save for the above, all other terms in the HOA dated 13 May 2022 shall remain unchanged and in full force, and continue to take effect and be binding on the parties to the HOA.

This announcement is dated 3 November 2022.