The Board of Directors of XOXTECH wishes to announce that the Company intends to seek the approval of its shareholders for the Proposed Shareholders' Mandate pursuant to Rule 10.09(2) of the Bursa Malaysia Securities Berhad ACE Market Listing Requirements for recurrent related party transactions of a revenue or trading in nature to be entered into by the Company and its subsidiaries with related parties at the forthcoming 23rd Annual General Meeting (23rd AGM) to be convened in due course.

The Proposed Shareholders' Mandate is in respect of recurrent related party transactions within the Group to be entered into from the date of the 23rd AGM up to the next forthcoming Annual General Meeting (AGM) of the Company.

The Proposed Shareholders' Mandate, if approved by the shareholders at the forthcoming 23rd AGM of the Company will be subject to annual renewal at each subsequent AGM of the Company.

A Circular to Shareholders will be despatched to the shareholders of XOXTECH in due course to provide them with the relevant information on the Proposed Shareholders' Mandate and to seek their approval for the resolution to be tabled at the forthcoming 23rd AGM.

This announcement is dated 27 July 2023.