SETTLEMENT OF LEGAL DISPUTES BETWEEN TOP GLOVE CORPORATION BHD AND ADVENTA CAPITAL PTE LTD

Both parties reach amicable out-of-court settlement

Shah Alam, Monday, 2 March 2020 Top Glove Corporation Bhd (Top Glove) and its subsidiaries, Top Care Sdn Bhd (“Top Care”) and Aspion Sdn Bhd (“Aspion”); and Adventa Capital Pte Ltd, ACPL Sdn Bhd, Low Chin Guan and Wong Chin Toh, today announced that they have resolved their disputes amicably. Both parties today entered into a settlement agreement (“the Settlement Agreement”) in relation to all disputes with respect to the purchase of Aspion Sdn. Bhd. by Top Care (“the Disputes”).

The Settlement Agreement was entered into by the parties without any admission as to liability. Among the terms and conditions of the Settlement Agreement, Top Care will receive a total of RM245 million as full and final settlement of the Disputes. All relevant parties shall withdraw their respective legal claims with no liberty to file fresh proceedings in the future and with no order as to costs.

The parties believe that settling the Disputes is in their best interests as well as that of their stakeholders, enabling them to focus exclusively on growing their respective businesses.

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