Warrix Sports Public Company Limited announced that the Company has signed a Memorandum of Understanding (MOU) with Nanyang Garment Company Limited (Nanyang Garment) on 9 May 2023, the objective of this memorandum is to define work procedures and preliminary conditions for negotiations to enter into joint venture agreement (Joint Venture Agreement) for a development, design and distribution of T-shirt product category under Warrix Brand, as well as supporting other activities relating to a joint ventures business. Currently, the Company is under the process of studying the feasibility of the investment prior to set up the joint venture company. The signed MOU is non-legal binding, where the Company will be working and considering all the potential business prudentially, to maximize the benefits to the Company, Shareholders and all groups of stakeholders.

If there is any significant progress, the Company will inform the status later.