Further to the announcements made by the Company on 11 December 2018 and 14 December 2018 pertaining to the Memorandum of Understanding entered into between Sanichi and FKS ("Parties") (“MOU”) where Sanichi and FKS had intended to collaborate to provide fresh produce to international food and beverage industry players with fresh produce, namely seafood, wagyu beef, fruits and vegetables with collaboration with partners in Japan and the provision of Japanese cuisine, for regional markets, namely Singapore, Malaysia, Indonesia, China and Australia.

The Board of Sanichi wishes to inform that the parties had mutually agreed to terminate the MOU with effect from 6 February 2024 ("Termination").  The Parties agreed that each party shall not make any claim against the other party due to the Termination.

The Termination does not have any financial impact to the Company and its subsidiaries.

This announcement is dated 6 February 2024.