Reference is made to the announcements dated 22 April 2024 and 25 April 2024 (“Announcements”) in respect of the aforesaid matter.

(Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as those defined in the Announcements.)

In relation to the article appearing in the media titled “Ancom Nylex to decarbonise via RTO of Ancom Logistics” appeared in The Edge dated 6 May 2024, the Company wishes to clarify and confirm the following:

1. based on the terms of the HOA, it is intended for ANB to hold approximately 21% of the enlarged issued share capital of ALB, via the issuance of new ALB Shares pursuant to the Proposed Private Placement; and
2. as the Proposals will result in a significant change in business direction or policy (i.e., a reverse take-over), the Parties agreed that the existing shareholders of GLT shall become the largest shareholder of ALB, so that they can continue to run the GLT Group and ALB after completion of the Proposals.

This announcement is dated 6 May 2024.