AT Systematization Berhad on 18 May 2020, 27 May 2020, 17 August 2020, 17 November 2020, 19 February 2021, 18 May 2021, 18 August 2021, 18 November 2021, 18 February 2022 and 18 May 2022 pertaining to the Memorandum of Understanding (“MOU”) entered into between PNE PCB Berhad, Arzon Solar, LLC, Sanichi Technology Berhad and AT Systematization Berhad (the "parties") to form joint venture company to design, carry out research and development and production of medical grade mechanical air ventilators which are to be distributed and marketed globally. The Board of Directors of AT Systematization Berhad wishes to inform that the parties had mutually agreed to terminate the MOU with effect from 28 June 2022 ("Termination"). The parties agree that each party shall not make any claim against the other party due to the Termination.