Reference is made to the Company’s announcements dated 1 August 2023, 3 November 2023 and 2 January 2024 in relation to the Memorandum of Understanding between BAIC International Development Co., Ltd (“BAIC”) and the Company (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

The Company wishes to announce that BAIC and PEPS-JV (Melaka) Sdn Bhd (“PJVM”) had on 8 April 2024 entered into a Vehicle Assembly Co-operation Agreement to co-operate on the assembly and manufacture of BAIC’s vehicles in Malaysia.

Please refer to the attachment for further details.

This announcement is dated 15 April 2024.