The Board of Directors of Nextgreen ("the Board") wishes to announce that the Company had on 16 April 2025 entered into a Joint Venture Agreement ("JVA") with the following parties to regulate the relationship between the shareholders of the company to be incorporated ("JV Company") and in the conduct of the business and affairs of the JV Company ("Joint Venture"), upon the terms and conditions set out in the JVA:

1. Nextgreen IOI Pulp Sdn. Bhd. ("NIP")
2. Hong Kong Paper Sources Co., Limited ("HK Paper Sources")
3. Xiamen C&D Paper & Pulp Group Co. Limited ("Xiamen C&D Paper & Pulp")
4. IOI Corporation Berhad ("IOI")

(NIP and HK Paper Sources collectively referred to as the "Shareholders").

(collectively referred to as the "Parties", and individually the "Party").

Please refer to the attachment for the details of the announcement. 

This announcement is dated 16 April 2025.