On behalf of the Board of Directors of KNM ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that Deutsche KNM GmbH ("DKNM"), a wholly-owned indirect subsidiary of the Company, had on 23 May 2022 entered into a conditional sale, purchase and transfer agreement ("SPA") with GPR Siebzigste Verwaltungsgesellschaft mbH ("GSV" or the "Purchaser") for the proposed disposal of 15 shares in Borsig GmbH ("Borsig"), representing 100% equity interest in Borsig, by DKNM to the Purchaser for a disposal consideration of EUR220,800,000 to be satisfied in the manner as set out in the SPA ("Proposed Disposal").

Further details of the Proposed Disposal are set out in the attachment enclosed.

This announcement is dated 24 May 2022.