The board of directors of Kingkey Financial International (Holdings) Limited announced that on 5 June 2024 (after trading hours), the Company entered into a non-legally binding memorandum of understanding (the "MOU") with Prime Road Power Public Company Limited (the " Potential Partner"), in relation to the potential cooperation for the development and promotion of solar power plant and energy and environmental technology solutions (the "Proposed Cooperation"). The Company and the Potential Partner are currently in the process of discussing possible ways of cooperation. The Company and the Potential Partner aim to collaborate on the financial development of solar power plant and energy technology solutions, including to develop related financial products.

Under the Proposed Cooperation, the Potential Partner will partner with the Group to provide ESG compliant energy technology solutions in Asia, while integrating green financial products to the best fit of their clients when providing financial services of the Group. The Group will utilise and promote such solutions provided by the Potential Partner as a strategic partner, so to (i) extend the business scope of the Group to capture the business opportunities of green financing and investments in Asia as it is estimated that there will be annual demand of up to USD200 billion market size by 2030 in Asia; and (ii) prepare and provide the first of its kind of green insurance solution to help derisk green washing and make-up. During the period of 60 days from the date of MOU (or such later date(s) as the parties to the MOU may agree in writing) (the "Exclusivity Period"), each of the Company and the Potential Partner agrees not to enter into negotiations, whether formal or informal, with any party other than the Company or the Potential Partner concerning the Proposed Cooperation.

Each of the parties to the MOU agrees to use all reasonable endeavours to negotiate the terms and conditions of a legally binding cooperation agreement between the relevant parties in relation to the Proposed Cooperation (the "Formal Agreement"). TERMINATION. The parties to the MOU agree that: (i) if the signing of the Formal Agreement does not take place within the Exclusivity Period, the MOU shall be terminated with immediate effect; or.

(ii) if the Company and the Potential Partner enter into the Formal Agreement within the Exclusivity period, the MOU shall be termination with immediate effect. The MOU shall be terminated at the occurrence of any of the above two events, whichever is earlier. The Directors have been actively exploring suitable business opportunities through cooperation with local and overseas enterprises, seeking to broaden its sources of income by expanding its current business portfolio and engaging in new business operations with growth potential.

In particular, in view of the global trend of development of sustainability through innovation and technology, the Directors believe that the Proposed Cooperation will enable the Group to capture business opportunities arising therefrom. The Company and the Potential partner will continue to explore potential opportunities through cooperation with local and international enterprises, seeking to broaden its source of income by expanding its existing business portfolio and engaging in new businesses with growth potential. In particular., the Directors believe that the Prop proposed Cooperation will enable the Group to captured business opportunities arising therefrom.

The Directors are of the view that the Possible Cooperation, if materialised, represents an opportunity for the Group to broaden its sources of income and is in the interests of the Company and the Shareholders as a whole. The MOU does not constitute any legally binding commitment in respect of the possible business cooperation, save and except that each party agrees to be legally bound by certain clauses including confidentiality and the governing law. The possible business cooperation between the Group and the Potential Partner will only be finalised after the conclusion of negotiation and execution of the Formal Agreement between the relevant parties.