DRB-HICOM wishes to announce that it has on 11 April 2022 entered into a Memorandum of Understanding (“MOU”) with Zhejiang Geely Holding Group Co., Ltd. (“Geely”) (collectively referred to as “the Parties”) for the purpose of developing and promoting an Automotive Hi-Tech Valley in Tanjong Malim, State of Perak, Malaysia (“AHTV”). The AHTV is aimed to be the Next Generation Vehicle Hub in Tanjong Malim covering extensive automotive and mobility solutions value chain from a full fledge high technology research & development (“R&D”) centre, to manufacturing cluster as well as supporting services and associated ecosystem including logistics, research university, training and learning institutions within a smart city, collectively known as the “Proposed Strategic Collaboration”.

For full details of the announcement, please refer to the attached file.

This announcement is dated 13 April 2022.