Unless otherwise defined herein, all terms and acronyms used herein shall be the same as those defined in the Company’s previous announcements dated 18 November 2021 onwards in relation to default in payment of Thai Bonds and the loan facilities granted by TransAsia Private Capital Limited and Danos Limited(“TA/Danos”) and the loan facilities granted by Bank of China (Malaysia) Berhad.

Reference is made to the previous announcements dated 18 November 2021, 22 November 2021, 6 December 2021, 10 December 2021, 16 December 2021, 21December 2021, 29 December 2021, 31 January 2022, 1 March 2022, 1 April 2022, 29 April 2022, 1 June 2022, 1 July 2022, 1 August 2022, 1 September 2022,30 September 2022, 1 November 2022, 1 December 2022, 27 December 2022, 3 January 2023, 1 February 2023, 1 March 2023, 3 April 2023, 2 May 2023, 1 June 2023, 3 July 2023, 1 August 2023, 1 September 2023, 25 September 2023, 2 October 2023, 1 November 2023, 1 December 2023, 2 January 2024, 2 February2024, 1 March 2024 ,1 April 2024, 2 May 2024, 4 June 2024, 1 July 2024, 1 August 2024, 2 September 2024, 1 October 2024, 1 November 2024, 2 December2024, 2 January 2025, 3 February 2025, 3 March 2025, 2 April 2025, 2 May 2025, 3 June 2025, 1 July 2025 and 1 August 2025.

In respect of the application to the High Court of Kuala Lumpur under Sections 366 and 368 of the Companies Act 2016 (“CA 2016”) to sanction a new Proposed Scheme of Arrangement with its creditors (“Proposed Scheme”) and for a Restraining Order (“RO”) pursuant to Section 368(1) of the CA 2016, filed by the Company and KNM Process Systems Sdn Bhd (collectively referred to as the “Applicants”), on 12 March 2025, the Court granted the Company an order to summon a Court Convened Creditors Meeting Order (“CO”) and hold meetings with the respective creditors of the Applicants (‘Scheme Creditors”) for the purpose of considering the Proposed Scheme, as the Court found that the Proposed Scheme had evolved positively, providing a real prospect for the Applicants to continue their business. However, the Court did not grant the RO.

On 27 March 2025 the Applicants filed an appeal with the Court of Appeal against the High Court’s decision on the RO. On the same day, the High Court granted the Applicants an Ad-Interim Restraining Order pending appeal, which will remain in effect until the Applicants’ Section 44 Courts of Judicature Act 1964 applicationto the Court of Appeal is disposed of.

On 4 June 2025, the Company announced that its application for an extension of time until 12 August 2025 or such other date as may be prescribed by the Court to convene and hold the CO has been approved. Accordingly, on 9 June 2025, the Applicants issued to the Scheme Creditors an Explanatory Statement, together with the Notice to schedule the CO to be held on 11 August 2025 pursuant to the provisions of Section 366 of the CA 2016 for the purpose of considering the Proposed Scheme with the Scheme Creditors.

On 11 August 2025, the CO of the Applicants was conducted on even date. The Proposed Scheme has been approved by the requisite majority of seventy-five (75) per centum of the respective class of creditors of each of the Applicants, under the Proposed Scheme, present and voting either in person or by proxy in the CO. As such, the Proposed Scheme will become binding on the Applicants and their Scheme Creditors upon an order of sanction being made by the High Court of Malaya and upon such order being lodged with the Companies Commission of Malaysia. The Applicants have instructed their solicitors to proceed with the filing of the application for sanction of the Proposed Scheme.

The Company will make the necessary announcement to Bursa Malaysia Securities Berhad as and when there is any material development in relation thereto.

This announcement is dated 2 September 2025.