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Update on the Termination of the Letter of Intent Dated 30 October 2018 in relation to the Purchase of Con Dao Green Energy Co., Ltd – Entry into Deed of Settlement

The Board wishes to update shareholders of the Company (“Shareholders”) that the Company has on 29 December 2021 entered into a deed of settlement (the “Deed of Settlement”) with Con Dao Green Energy and Mr Dinh Minh Dao (“Mr Dao”) in relation to the repayment of the US$600,000 previously paid by the Company (the “Repayment Amount”), and pursuant to which, inter alia, the relevant parties have agreed terms for the full and final settlement of any dispute relating to the LOI and the letter of advancement dated 30 November 2018 issued by DWS to Con Dao Green Energy (the “Letter of Advancement”).