The Board of Directors of Nextgreen wishes to announce that Nextgreen Biomass Sdn Bhd (“NGBSB”), its wholly-owned subsidiary of the Company had on 15 July 2022 entered into a Memorandum of Agreement (“MOA”) with Greentech Malaysia Alliances Sdn Bhd (“GTMASB”), Koperasi Sahabat Amanah Ikhtiar Malaysia Berhad (“KOOP SAHABAT”) and Koperasi Perkhidmatan Setia Berhad (“KOSETIA”) to form a joint venture through a special purpose company known as GTC Biomass Berhad (“hereinafter referred to as “SPV Company”), for the purpose of building, developing and commissioning twenty (20) Palm Oil Waste Collection and Processing Centers (“the Centers”) through Malaysia (‘referred to as “the Project”).

Please refer attachment for full details of the announcement.

This announcement is dated 15 July 2022.