(Unless otherwise defined, the definitions set out in the Company’s announcement dated 2 April 2019 shall apply herein.)

Reference is made to the announcement made by Nextgreen Global Berhad (“Company”) on 2 April 2019 in relation to the Letter of Intent (“Letter of Intent”) entered into between the Company and Marubeni Corporation (“Marubeni”) to confirm both parties intention to negotiate a potential sale and purchase contract whereby Marubeni would purchase as an off-taker of the pulp and paper from Nextgreen Pulp & Paper Sdn. Bhd. (“NPPSB”), a wholly-owned subsidiary of the Company (“Potential Transaction”).

The Board of Directors of the Company wishes to announce that the Company has on 18 November 2019 executed an Addendum (“Addendum”) to the Letter of Intent to vary and amend specific clauses in the Letter of Intent. The Addendum constitutes an integral part to the Letter of Intent.

By the Addendum made between the Company and Marubeni, the terms of the Letter of Intent is amended by adding the following Clauses:-

(a) Besides the Potential Transaction, the Company and Marubeni have an intention to mutually evaluate the possibility to participate not only in Phase 3 of the Facility in Pahang but also potentially in Sarawak and Johor in Malaysia.

(b) The Letter of Intent shall be extended as follows:-

1. The target date of entering into a formal contract shall be changed from 30 September 2019 to 30 September 2020; and

2. The termination date of the Letter of Intent shall be changed from 31 December 2019 to 31 December 2022.

As stated in the Addendum, it was understood that the Company shall not negotiate nor enter into the sales of tissue products to be produced at the Facility in Pahang, Malaysia, to any third party or any other transaction that might impair or impede the possible transaction until 31 December 2022.

This announcement is dated 18 November 2019.