On behalf of the Board, M & A Securities wishes to announce that the Company proposes to undertake the Proposed Regularisation Plan (as defined herein) to regularise its financial condition in accordance with Rule 8.04(3) of the Listing Requirements. The Proposed Regularisation Plan shall comprise the following:

(i) proposed reduction of the issued share capital of Lambo pursuant to Section 117 of the Companies Act 2016 (“Act”) (“Proposed Share Capital Reduction”);

(ii) proposed diversification of the existing business of Lambo and its subsidiaries (“Lambo Group” or the “Group”) to include the distribution, wholesale, trading and retail sale of food and beverage (“F&B”) (i.e. live and frozen seafood, Korean Hanwoo beef and alcoholic beverages) as well as F&B services (i.e. restaurants and cafes) (“F&B Business”) (“Proposed Diversification”); and

(iii) proposed variations and extensions of timeframe for the utilisation of proceeds raised from the previous fund-raising exercises undertaken by the Company (“Proposed Variations”).

(Collectively referred to as the "Proposed Regularisation Plan")

Please refer to the attachment below for further details of the Proposed Regularisation Plan.

This announcement is dated 28 November 2025.