CIRCULAR TO SHAREHOLDERS IN RELATION TO THE: - I. PROPOSED VARIATION TO THE TERMS OF THE SALE AND PURCHASE AGREEMENT DATED 24 FEBRUARY 2021, ENTERED INTO BETWEEN KANGER VENTURES SDN BHD ("KANGER VENTURES") (A WHOLLY-OWNED SUBSIDIARY OF KANGER) AND ASET KAYAMAS DEVELOPMENT SDN BHD (FORMERLY KNOWN AS ASET KAYAMAS SDN BHD) ("AKDSB" OR THE "DEVELOPER") AS NOVATED BY KANGER VENTURES TO KANTARA SDN BHD (A WHOLLY OWNED SUBSIDIARY OF KANGER) ("KANTARA") VIDE A DEED OF NOVATION DATED 12 AUGUST 2022 ENTERED INTO BETWEEN KANGER VENTURES, AKDSB AND KANTARA FOR THE ACQUISITION OF 126 UNITS OF PROPOSED SERVICED APARTMENTS LOCATED ON THE 30TH TO 45TH FLOORS OF TOWER A, ANTARA, GENTING HIGHLANDS, SITED ON A PIECE OF FREEHOLD LAND HELD UNDER TITLE NO. GRN 45572, LOT 43031, MUKIM AND DISTRICT OF BENTONG, PAHANG DARUL MAKMUR ("PROPOSED VARIATION"); AND II. A REDUCTION OF THE ISSUED SHARE CAPITAL OF KANGER PURSUANT TO SECTION 116 OF THE COMPANIES ACT, 2016 ("ACT") ("PROPOSED CAPITAL REDUCTION")

PROPOSED PRIVATE PLACEMENT OF UP TO 180,306,505 NEW ORDINARY SHARES IN KANGER INTERNATIONAL BERHAD, REPRESENTING APPROXIMATELY 20% OF THE TOTAL NUMBER OF ISSUED SHARES OF THE COMPANY ("PROPOSED PRIVATE PLACEMENT")