The Board of Directors of LYC ("Board"), wishes to announce that Aqurate Ingredients Intl (M) Sdn Bhd ("Aqurate"), a subsidiary of the Company had on 9 August 2023 entered into a Memorandum of Understanding ("MOU") with Bereum Co Ltd ("Bereum") and Hyundai C Square Co Ltd ("HCSCL") (collectively referred to as the "Parties") with the intention to confirm the mutual understandings among the Parties with regard to the postbiotics distribution and product development while expressing the Parties' common aim of reaching definitive agreements for the benefit of the Parties through mutual cooperation.

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

This announcement is dated 9 August 2023.