On 27 June 2022, MPIC entered into an Investment Framework Agreement (the “Agreement”) with Carmen’s Best Dairy Products, Inc. (“CBDPI”), Carmen’s Best International Dairy Company, Inc. (“CBIDCI”), Real Fresh Dairy Farms, Inc. (“RFDFI”), The Laguna Creamery, Inc. (“TLCI”), RMJ Development Corporation (“RMJDC”), and certain individual shareholders (collectively, the “Carmen’s Best Group”)

Under the Agreement, MPIC will acquire 51% of the outstanding shares of TLCI, after the satisfaction of the conditions precedent to the transaction including the increase in the authorized capital stock of TLCI and the consolidation of the assets and business of the Carmen’s Best Group in TLCI. After the transaction, TLCI will become a subsidiary of MPIC.