Reference is made to the announcements dated 7 May 2026, 25 June 2026, 30 June 2026, 7 July 2026 and 28 August 2026 (collectively, the "Announcements") made by the Company in relation to: (i) the Memorandum of Understanding ("MOU") dated 7 May 2026 entered into between NICE REE Sdn Bhd (formerly known as Supreme Conquest Sdn Bhd) ("NREE"), a wholly-owned subsidiary of NICE, and Greensnow Consolidated Berhad ("GCB"); (ii) the Joint Development Agreement dated 25 June 2026 ("JDA") entered into between NREE and GCB for the joint development of a rare earth ("RE") exploration, extraction and processing project involving ion-adsorption clay ("IAC-RE") deposits over approximately 2,000 acres of land located in Sungai Jeli, Kelantan (the "Project"); and (iii) the MOU dated 30 June 2026 entered into among GCB, NREE and StrategicREM, LLC ("StrategicREM") to establish a framework for the parties to negotiate and execute a Definitive Offtake Agreement ("DOA") for the sale and purchase of RE minerals produced and/or extracted from the Project ("Products").

The Board of Directors of NICE (the "Board") is pleased to announce that GCB has on today, 3 September 2026 notified the Company that its wholly owned subsidiary, Greensnow Biosolutions Sdn Bhd ("GBSB"), had on 9 August 2026 obtained an Interim Manufacturing Licence from the Ministry of Investment, Trade and Industry ("MITI") to manufacture green chemical and bio-based solvents for RE extraction at Lot 401L, Kawasan Perindustrian Gebeng Phase 4, Bandar Gebeng, Daerah Kecil Gebeng, 26080 Kuantan, Pahang.

The interim Manufacturing Licence is subject to the following terms and conditions, amongst others:

  1) To inform MITI and Malaysia Investment Development Authority ("MIDA") of any change in the shareholding of GBSB;

  2) To provide training to Malaysian employees to facilitate the transfer of technology and expertise at all levels of employment;

  3) To maintain a Capital Investment per Employee ("CIPE") of not less than RM140,000;

  4) To ensure that at least 80% of its workforce comprises Malaysian employees; and

  5) To provide and update MIDA as and when requested on the investment and development of the project pursuant to Akta Penyelarasan Perindustrian, 1975 (Akta 156) and Akta MIDA, 1965.

GBSB is also required to submit the relevant supporting documents to MIDA within six (6) months from the date of the approval letter in order to facilitate the issuance of the full Manufacturing Licence.

Securing this approval aligns closely with Malaysia's current industrial policy objectives.  By establishing an integrated end-to-end RE earth value chain, the initiative supports the nation's strategy to promote domestic value creation and strengthen its midstream and downstream RE industries through higher value-added processing and manufacturing activities.

This announcement is dated 3 September 2026.