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Further Update Announcement on Alternative Water Treatment Asset offered by Mr. Wang Zhi for the purposes of Asset Injection

The Board would like to inform the shareholders of the Company that following the Mediation conducted and facilitated by a Senior Counsel appointed to act as mediator by the mutual agreement of the parties, the Company and Mr. Wang have agreed to a full and final settlement of the Dispute and any and all claims arising out of and/or in connection with the Deed of Undertaking on the terms set out in a binding settlement agreement entered into between the Company and Mr. Wang on 15 July 2022.

Please see attached for details.