The Board announced that on 10 July 2023, National United Resources Holdings Limited entered into a strategic cooperation agreement with Wuyuan Carbon-Based Commercial Co. Ltd. (Wuyuan). Pursuant to the Strategic Cooperation Agreement, the company will establish a comprehensive strategic partnership with Wuyuan.

The principal terms of the Strategic Cooperation Agreement are set out below: Both parties aim to have in-depth business cooperation in the future and to establish a comprehensive strategic partnership. Wuyuan will fully cooperate with the Company in its business in the development of natural eco-tourism and technological health products, including but not limited to establishment of joint venture(s) and mergers and acquisitions. The Company agrees to leverage its existing tourism passenger transport resources and experience to provide support for Wuyuan's projects.

Both parties will set up a working team to promote the above-mentioned cooperation. Details of subsequent cooperations shall be subject to the relevant specific cooperation agreements to be entered into by the parties separately. The Board considers that the Strategic Cooperation Agreement has been entered into on normal commercial terms after arm's length negotiation between the Company and Wuyuan, and such cooperation is in the interests of the Company and its Shareholders as a whole.

The Board believes that the entering into of the Strategic Cooperation Agreement will facilitate the Group's expansion of business scope, improve the Group's resistance to operational risks and is in line with the future development direction of the Group.