The Board of Directors of OCR (the “Board”) wishes to announce that OCR Avenue Sdn Bhd (“OCRASB” or the “Developer”), an indirect subsidiary of the Company had on 20 April 2022 entered into a Joint Venture Agreement (“JVA”) with Magna Ecocity Sdn Bhd (“MESB” or the “Owner”) to fund and undertake the development of a parcel of 99 years leasehold land known as HSD 16667, PT 12, Seksyen 15, Bandar Shah Alam, Daerah Petaling, Negeri Selangor and measuring approximately 80,937 square meters (about 871,199 square feet) (hereinafter referred to as the “Project Land”) in accordance with such plans to be drawn up by the Developer at the Developer’s sole discretion and as may be approved by the Relevant Authority subject to such amendments or variations as may be required by the Relevant Authority and/or deemed necessary or expedient by the Developer and the Owner has agreed to do so for their mutual benefits, subject to the terms and conditions contained therein and the JVA.

OCRASB and MESB shall hereinafter be collectively referred to as the “Parties” and individually as the “Party”.

Please refer to the attachment for further details.

This announcement is dated 20 April 2022.