The Board of Directors of JAG wishes to announce that Jaring Metal Industries Sdn. Bhd., a wholly-owned subsidiary of JAG has on 10 July 2024 entered into a Memorandum of Understanding ("MOU") with Mitsubishi Materials Corporation (collectively known as "the Parties") to develop, construct, finance and operate a household appliance recycling business in Malaysia, whose scope of business will include the collection and recycling of end-of-life household appliances and the sale of resources recovered through the recycling process.

Please refer to the attachment for further details on the MOU.

The announcement is dated 10 July 2024.