Methanol Chemicals Company (Chemanol) announces signing a non-binding Memorandum of Understanding with Global Company for Downstream Industries (GDI) for supplying Methanol & Exploring Future opportunities in the field of Petrochemical Products.

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Introduction	Methanol Chemicals Company (Chemanol) announces signing of a non-binding Memorandum of Understanding with Global Company For Downstream Industries (GDI) to explore avenues of collaboration between the two companies. In accordance with the (MOU), Chemanol shall supply Methanol to the Global Company for Downstream Industries (GDI) where the two parties shall explore opportunities for future collaboration in the field of petrochemical products.

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Introduction

Methanol Chemicals Company (Chemanol) announces signing of a non-binding Memorandum of Understanding with Global Company For Downstream Industries (GDI) to explore avenues of collaboration between the two companies. In accordance with the (MOU), Chemanol shall supply Methanol to the Global Company for Downstream Industries (GDI) where the two parties shall explore opportunities for future collaboration in the field of petrochemical products.

GDI is one of the companies that invest in specialty chemicals and downstream industries. Memorandum Signing Date 2022-02-10 Corresponding to 1443-07-09 Counterparty Global Company for Downstream Industries (GDI) Memorandum Subject Supplying Methanol & Exploring Future Opportunities in the Field of Petrochemical Products Memorandum Duration The MOU expires on 31 December 2022 Related Parties The Proposed Transaction might involve related parties, and in such case the relevant details will be announced at a later stage Financial Impact Shall be announced upon signing of the final agreement. Additional Information This announcement does not mean that the proposed transaction will be agreed upon between the parties, and any material developments in connection with the proposed transaction will be announced in due course

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