The Board of Directors of CFM (‘Board') announced that the Company had on 5 January 2023 entered into a Joint Venture Agreement with EA Mobility Holding Co. Ltd. (‘EA Mobility Holding') to set out the Parties' respective rights, duties and obligations with respect to the JVCO established for the purpose of conducting business across Malaysia, including but not limited to selling, distribution, assembling and production of electric vehicles, transports and related accessories and infrastructures which shall include products known as E-bus, E-truck, E-ferry and electric vehicle charger via the JVCO (‘Joint Venture Agreement') (‘Proposed Joint Venture'). The JVCO shall be in the business of selling, distribution, assembling and production of electric vehicles, transports and related accessories and infrastructures which shall include products known as E-bus, E-truck, E-ferry, and electric vehicle charger, and other businesses as from time to time agreed by the Parties.