The Board of Directors of Aemulus (“Board”) wishes to announce that the Company has on today entered into a memorandum on the equity transfer with Tangren Microtelligence Technology (Jiashan) Co., Ltd. (“Tangren Microtelligence”) and TMSS to acquire the remaining 60% equity interest of TMSS from Tangren Microtelligence for a total cash consideration of Renminbi (“RMB”) 25,000,000 (“Purchase Consideration”) in accordance with the definitive share transfer agreement to be entered into between the parties.

As at the date of this announcement, TMSS is a 40%-owned associate of the Company.

The parties have agreed that they shall use its best efforts to enter into a definitive share transfer agreement for the Proposed Acquisition.

The Proposed Acquisition is anticipated to be subject to the approval of the Company’s shareholders at an extraordinary general meeting to be convened for the Proposed Acquisition.

A detailed announcement on the Proposed Acquisition will be made upon finalisation and signing of the definitive share transfer agreement for the Proposed Acquisition.

This announcement is dated 27 August 2024.