The Board of Directors of NEXG announced that the Company has on 23 May 2025 entered into a Memorandum of Understanding ("MOU") with LUN Partners Financial Limited ("LPF"). LPF is a LUN Partners Group member company providing strategic planning, M&A advisory, and support for new market entry, connecting global network and resources in the process. LPG's portfolio companies and strategic partners span North America, South America, Asia, Europe, and Africa.

LPF and NEXG (hereinafter referred as "the Parties") will collaborate on the international commercialization of the Company's patented technologies and/or solutions including but not limited to digital identity verification and cybersecurity in international markets technologies. The Parties intend to collaborate in good faith and for mutual benefit where the Parties are desirous of the following: a) The Parties will collaborate to drive product and application innovation in the fields of FinTech and digital technology, promoting industry development in Asia and global markets; b) LPF will utilize LPG's extensive global network resource to introduce potential business partners acceptable to NEXG to penetrate new markets and business; and c) Where a partner acceptable to NEXG is identified, facilitate a strategic partnership among the partner and NEXG, including potentially incorporate a joint venture between the partner and NEXG in a suitable jurisdiction for global business. The Parties agreed that formal agreements shall be entered into by 1 September 2025.

In the event no agreement is entered into, all understanding and/or arrangement between the Parties arising from the MOU shall lapse where upon the MOU shall cease and determine. In the event of termination of the MOU by mutual agreement and/or consent of the Parties, neither Party shall be entitled to any claim and/compensation against the other save for any rights accrued or for antecedent breach. The entry into the MOU creates opportunities for NEXG Group to source for credible international business partners and to penetrate new markets and business in Asia and global markets.

The MOU is not expected to have any material effect on the issued share capital and substantial shareholders' shareholdings of the Company, as well as the net assets, gearing, earnings and earnings per share of NEXG Group for the financial year ending 31 March 2026. The financial effects of the MOU can only be determined upon formalization of a formal agreement between the Parties.