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

Under the agreement, the company and INHOYI (collectively the "contracting parties," individually a "contracting party") intend to establish a long-term cooperative relationship in the areas of electric mining truck sales agency and mining equipment investment and operations. 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, at an appropriate time, as a non-exclusive agent responsible for market promotion, sales, and customer maintenance of the company's electric mining truck products in the authorized region (namely 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, at an appropriate time, the design, procurement, construction, and operation of solar-storage equipment (30MWp photovoltaic + 60MWh energy storage) as well as the selection and procurement of mining equipment. After the equipment is built or procured, the company or its affiliates will, at an appropriate time, sell the target equipment to INHOYI and provide long-term operation and maintenance services.

3. Profit Sharing: The contracting parties intend that, after the target equipment investment is completed and the mining project generates sales revenue, INHOYI will share the mining project profits it is entitled to with the company.

The letter of intent for cooperation will help the company expand its electric mining truck sales agency and mining equipment investment and operations business in Africa, and further promote the company's technology and products in the field of pure electric engineering equipment.