Reference is made to the announcements released by the Company on 18 October 2021 and 12 April 2022 in relation to the MOU and the extension of its validity period to 17 June 2022.

The Board of Directors of Inari wishes to announce that the Company and CFTC have mutually agreed to extend the MOU for a further period of 2 months up to 17 August 2022. CFTC is constrained by the movement controls taking place in China during the current period to carry out legal steps ahead of the signing of the Definitive Agreements and the parties consider it prudent to extend the period of the MOU in the light of this unforeseen delay.

All other terms contained in the MOU remain unchanged and the Company will make a detailed announcement when the parties enter into Definitive Agreements.

This announcement is dated 15 June 2022.