PrimeRevenue and IFS Capital Limited (IFS) announced a new partnership. The partnership brings supply chain finance--a process for buyers to optimize their working capital management and at the same time provide faster access to cash for suppliers--to companies across Southeast Asia. A fundamental feature of a well-structured supply chain finance program is its ability to improve the robustness of the buyer's supply chain through an ESG approach.

By removing friction between buyers and suppliers, building supply chain resilience, measuring and incentivizing sustainable practices, as well as unlocking capital that can fund the road to net-zero emissions, the IFS Supply Chain Finance (SCF) program, powered by PrimeRevenue's platform, can help companies achieve their ESG goals. The Board of Directors of IFS Capital Limited refers to the announcement of the Company issued on 24 August 2021 in relation to the entry of a nonbinding Memorandum of Understanding with PrimeRevenue, Inc. ("PR"), for a proposed partnership to provide supply chain financing solutions in Southeast Asia. The Board wishes to announce that the Company has on 13 September 2022 entered into a Reseller Agreement with PR (the "Agreement"), for a two year period to offer, market and sell PR's platform solutions for the Company's supply chain financing programs in Singapore, Malaysia and Thailand.

The Agreement will commence with immediate effect.