LAUNCH OF PAYUNG RAHMAH INITIATIVE WITH ZCITY

Reducing the financial burden on Malaysians by providing e-Vouchers for essential goods at guaranteed lowest prices and offering attractive rewards

NEW YORK and KUALA LUMPUR,Malaysia,July 25,2023 -- In light of recent price increases and concerns over the rising cost of living,ZCITY,a leading lifestyle solution mobile application,has collaborated with the Ministry of Domestic Trade and Cost of Living (KPDN) to launch the Payung Rahmah Initiative. This campaign aims to reduce the financial burden on Malaysians by providing e-Vouchers for essential goods at guaranteed lowest prices and offering attractive rewards.

Inflationary pressures have weighed heavily on Malaysians,resulting in higher expenses for daily needs and essential goods to support families compared to previous years. According to news reports by The Star,private consumption,which contributed 58.2% to Malaysia's Gross Domestic Product (GDP) in 2022,is expected to decline this year. Consumer spending patterns in the second half of 2023 will likely show a downward trend due to internal and external pressures. To address this issue,KPDN introduced the Payung Rahmah Program,which includes the Rahmah Package Initiative. Under this initiative,ZCITY has launched the Payung Rahmah Initiative to assist individuals and families in managing the cost of living and coping with the increased daily living expenses.

The Payung Rahmah Initiative offers various financial saving initiatives designed to ease the burden on Malaysians,benefiting an estimated 33 million Malaysians,including youth and university students.

The ZCITY Rahmah Kasih Sayang Package is created as an initial effort by ZCITY to help reduce the cost of living and assist individuals and families with limited financial resources in meeting their daily needs.

Through the ZCITY app,users can enjoy various benefits such as Petrol Vouchers,Bill Payments,Food Vouchers,Grocery Vouchers,and more at guaranteed lowest prices. Leveraging the latest digital technology,ZCITY ensures a seamless and user-friendly experience for all users,making this initiative easily accessible.

The Payung Rahmah Initiative is currently ongoing,offering various options to Malaysians. ZCITY users can receive e-Vouchers worth RM70 with a purchase of only RM50. These e-Vouchers can be used for multiple needs,such as refueling vehicles,purchasing food,buying groceries,and settling monthly bills for services,including telecommunications,TV subscriptions,utilities,and more.

This package includes various vouchers,such as petrol,bills,food/drinks,and grocery purchases. All these vouchers can be digitally redeemed through the ZCITY mobile application.

"We are fully committed to supporting Malaysians in effectively managing their cost of living while earning additional rewards in the form of cash rebates for every essential purchase through the ZCITY app. Aligned with KPDN's initiative,we believe that the Payung Rahmah Initiative will provide practical assistance to Malaysians,enabling them to save on living expenses while meeting their basic needs through our digital lifestyle platform," said Sam Teo,Founder,and Chief Executive Officer of ZCITY.

"Through close collaboration and strong ties with KPDN,we are committed to giving back to the community by providing beneficial support to Malaysians," added Sam Teo.

The Payung Rahmah Initiative enables Malaysians to maintain their standard of living while easing their financial burden from price increases. By choosing from various e-Vouchers and rewards,Malaysians can effectively reduce their cost of living while enjoying additional benefits through the user-friendly ZCITY platform.

For more information about the Payung Rahmah Initiative,please visit https://www.zcity.io/zrahmah or download the ZCITY app from https://www.zcity.io/download.

About ZCITY

The ZCITY App,developed by Gem Reward Sdn Bhd. ("GEM"),is a cutting-edge digital ecosystem that revolutionizes and streamlines the e-payment process for consumers while allowing them to earn rewards. Powered by Nasdaq-listed Treasure Global Inc (NASDAQ: TGL),its proprietary ZCITY App offers consumers and merchants innovative solutions that simplify and enhance the shopping experience,resulting in increased user engagement and valuable data collection. Moreover,it transforms consumers' e-payment experiences by allowing them to earn rewards through cashless transactions,including rebates at online and offline retail outlets,instant rebates,and participation in affiliate cashback programs.

Learn more about ZCITY at https://zcity.io/

For media inquiries,please contact:

Investor Relations (Malaysia)

ZCITY by Treasure Global Inc (NASDAQ: TGL)

+6012 643 7688

ir_my@treasuregroup.co