Further to the announcement made on 14 July 2025, the Board of Solid Automotive Berhad ("Solid" or the "Company") wishes to announce further details as below:

(a) Purchase Consideration of RM6 million was derived from the following (audited figures as at 31 December 2024):-

• seven (7) motor vehicles registered under SG with total value of (+RM150,000.00) which was based on mutually agreed at 20% of cost (RM716,901.72; round up to RM150,000.00);
• a fixed deposit of Ringgit Malaysia Eight Hundred and Ninety Thousand (+RM890,000.00) only maintained by SG with UOB bank;
• the aggregate value of trade debtors of SG of (+RM1,687,189.30);
• stocks on hand of SG of (+RM4,541,093.66);
• the aggregate value of trade creditors of SG of (-RM328,854.66); and
• round down to RM6 million as purchase consideration may be varied in accordance with Clauses 2.5 and 2.6 of the Share Sale Agreement ("SSA"). For more details, please refer to Note 2.7 Salient Terms of the SSA of the attachment below.

(b) Settlement of Purchase Consideration

• The Purchase Consideration shall be satisfied in full by Solid in cash.

(c) Detail Breakdown of Obligations and Liabilities (audited figures as at 31 December 2024) to be assumed by Solid under the SSA, excluding contingent liabilities/guarantees as   

     below:

• Trade and other payables comprising of Trade payables of RM328,854.66, Other payables of RM5,204.17 and Accruals of RM10,000.00.

The Board also would like to clarify that the fixed deposit of RM890,000.00 would be retained by Purchaser, i.e. Solid.

This announcement is made on 22 July 2025.