BRETON (01333) entered into a letter of intent for cooperation with Inhoy

BRETON (01333) announced that the Company recently entered into a letter of intent for cooperation (the "Letter of Intent") with INHOYI INVESTMENTS (PRIVATE) LIMITED (Inhoyi). Pursuant thereto, 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 principal terms of the Letter of Intent are summarized as follows: 1. Agency Authorization: The Company intends, as and when appropriate, 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 territory (i.e., within the territories of the Republic of Zambia, the Republic of Zimbabwe and the Republic of Mozambique). 2. Investment in and Sale of Target Equipment: The Company intends, as and when appropriate, to carry out the design, procurement, construction and operation of optical 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, as and when appropriate, 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 investment in the target equipment and the realization of sales revenue from the mining area project, Inhoyi will share with the Company the profits of the mining area project to which Inhoyi is entitled. The Letter of Intent will help the Company expand its electric mining truck sales agency and mining equipment investment and operation businesses in Africa, and further promote the Company's technology and products in the field of pure electric engineering equipment.