The board of directors of Kingkey Financial International (Holdings) Limited announced that on 1 July 2024, the Company entered into a non-legally binding memorandum of understanding (the MOU) with Azur Pacific Capital Advisors Limited (the Potential Partner), in relation to the potential cooperation of the establishment of a potential joint-venture company focused on the financing and investment of (i) green energy projects in Thailand; and (ii) artificial intelligence (AI) data centres powered by green energy (the Projects). 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 establish a potential joint-venture company at designated country or region for the purpose of deploying capital to finance the development of the Projects, with a potential revenue sharing model of the future computation power in compliance with the sustainability requirement of the ESG.

The Group will assist in fund-raising for the development of the Projects through its subsidiary that is principally engaged in the provision of asset management services. Formal AGREEMENT: 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 parties to the MOU agree that: if the signing of the Formal Agreement does not take place within the period of 90 days from the date of MOU (90-Day Period) (or such later date(s) as the parties to the MOU may agree in writing), the MOU shall be terminated with immediate effect; or if the Company and the Potential Partner enter into the Formal Agreement within the 90-Day 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 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.