The Board of Directors of Nextgreen Global Berhad ("NGGB") wishes to announce that the Company has on 16 October 2018 entered into an Investment Agreement (“Investment Agreement”) with Asia Capital Investment Fund (“ACIF”) where ACIF has agreed to invest a sum aggregating to Ringgit Malaysia Four Hundred Million (RM400,000,000)  (“Investment”) into several special purpose vehicle companies to be incorporated and 100% owned by NGGB ultimately which are assigned to manage, inter-alia, GTP Pekan Project and two (2) others green technology projects in Johor and Sarawak which are currently in the pipeline. The Investment will be in the form of share capital injection and loan.

Details of the Investment are set out in the document attached.

This announcement is dated 16 October 2018.