The Board of Directors of MCB (“Board”) wishes to announce that Mieco Manufacturing Sdn Bhd (“MIECO”) a wholly-owned subsidiary of the Company has on 8 August 2025 entered into a Memorandum of Understanding (“MOU”) with K-One Corporation (“K-ONE”) a leading wood product importer in Korea, to establish a framework for long-term strategic cooperation in relation to the purchase and supply of wood pellets, and to share market strategies and trends to enhance both parties market presence in Korea and internationally.

Further details of the announcement are set out in the attachment below.

This announcement is dated 8 August 2025.