TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS

JOHORE TIN BERHAD (“JTB” OR “THE COMPANY”)

LETTER ON INTENT FOR SUBSCRIPTION OF SHARES IN A PROPOSED JOINT VENTURE COMPANY IN MEXICO BY WHOLLY-OWNED SUBSIDIARY, ABLE DAIRIES SDN. BHD.

1. INTRODUCTION

The Board of Directors of JTB (“the Board”) wishes to announce that Able Dairies Sdn. Bhd. (Company No. 765074-D) (“Able Dairies”), a wholly-owned subsidiary of JTB, had on 11 April 2017 signed the Letter of Intent (“LOI”) for the subscription of 40% interest in shares in the Joint Venture Company to be incorporated in Mexico namely, Able Dairies Mexico, S.A.P.I. de C.V. (“Newco”) with Marco Antonia Zannie Rafols (“MAZR”) (40% interest), Juan Pablo Anaya Zermeno (9% interest) and Rodrigo Anaya Zermeno (9% interest) (jointly the “Anaya Mexico”) and Enrique Ortiz Eng (“EOE”) (2% interest). The total investment will be an Amount up to USD5,000,000 of which Able Dairies’s proposed subscripton share shall be USD2,000,000.

2. FINANCIAL EFFECTS OF THE LOI

The LOI is not expected to have any material effect on the issued and paid up share capital, net assets and earnings of the Company for the financial year ending 31 December 2017.

3. DIRECTORS’ AND MAJOR SHAREHOLDER’S INTERESTS

To this date hereof, none of the directors, major shareholders, and persons connected with directors or major shareholders of the Company or any of its subsidiaries have any interest, direct or indirect, in the LOI.

4. DIRECTORS’ RECOMMENDATION

The Board of Directors of JTB, having considered all aspects of the LOI is of the opinion that the LOI is in the best interest of the JTB Group.