The board of directors of K Group Holdings Limited announced that on 5 May 2023, the Company entered into a memorandum of understanding on strategic cooperation with Mango Financial Channel Pte. Ltd. Pursuant to the MOU, the Company and the Strategic Partner intend to collaborate with each other so as to bring mutual benefits to both parties, and the collaboration may be in form of, including but not limited to: the Company and the Strategic Partner become official business partners to support each other and to explore the effective use of their respective advantages in businesses, talents, and resources to extensively cooperate in the field of financial media and achieve the goal of "complementary advantages and joint development". possible formation of a joint venture between the Company and the Strategic Partner to incorporate the resources possessed by both parties; and.

pooling of relevant resources of the parties to establish other cooperative model(s), aiming to maximise each other's benefits. The Company hereby appointed Mr. Ling, Kwok Chung Daniel as the Vice President to facilitate the potential partnership. Mr. Ling is the promoter of the Mango Dongting Financial Channel "Hong Kong Singapore Malaysia" in China, and a businessman and senior strategic investor.

Term. The MOU shall be effective for a period of one year commencing from the date of the execution of the MOU, unless terminated by not less than one month's prior written notice to the other party prior to the expiration of the term of the MOU. Non-legally Binding Effect.

Save for certain clauses regarding, among others, confidentiality, costs and expenses and governing law, the MOU is not legally binding on the Company and the Strategic Partner. The parties to the MOU shall enter into formal written agreements to set out the terms and conditions of the collaboration between the Company and the Strategic partner.