BRETON (01333) has announced that the Company recently entered into a letter of intent for cooperation (the "Letter of Intent") with INHOYI INVESTMENTS (PRIVATE) LIMITED ("INHOYI").

Pursuant to which, the Company and INHOYI (collectively the "Parties", each a "Party") intend to establish a long-term cooperative relationship in the fields of electric mining truck sales agency and mining equipment investment and operation. The Letter of Intent will expire on September 26, 2036.

The main terms of the Letter of Intent are summarized as follows:

1. Agency Authorization: The Company intends to authorize INHOYI, as a non-exclusive agent, to be responsible for the market promotion, sales and customer maintenance of the Company's electric mining truck products in the authorized region (i.e., within the territories of the Republic of Zambia, the Republic of Zimbabwe and the Republic of Mozambique).

2. Target Equipment Investment and Sales: The Company intends to carry out the design, procurement, construction and operation of photovoltaic and energy storage equipment (30MWp photovoltaic + 60MWh energy storage) and the selection and procurement of mining equipment; and after the completion of construction or procurement of the equipment, the Company or its affiliates intend to sell the target equipment to INHOYI and provide long-term operation and maintenance services.

3. Profit Distribution: The Parties intend that after the completion of the target equipment investment and the realization of sales revenue from the mining area project, INHOYI will share the profits of the mining area project it is entitled to with the Company.

The Letter of Intent will help the Company expand its electric mining truck sales agency and mining equipment investment and operation business in Africa, and further promote the Company's technology and products in the field of pure electric engineering equipment.