Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as those defined in the announcement made on 31 October 2022.

We refer to the announcement dated 31 October 2022 in relation to the Memorandum of Understanding made between Eco and Anzo (“MOU”).

The Board of Directors ("Board") of Anzo wishes to announce the Company has received a termination letter dated 9 November 2022 from the Eco informing that not all Eco’s Board members are currently available to deliberate on the term and conditions of the binding term sheet, Eco would like to withdraw their participation in the Proposed Regularisation Plan due to the urgency and complexity of the matters and transactions envisaged in the term sheet.

Eco has given 14 days’ notice to terminate the MOU. In view of the above, the Parties have mutually agreed to terminate the MOU with effect from 23 November 2022 (“Termination Date”).

Kindly refer to the attachement for the details of the announcement.

This announcement is dated 10 November 2022.