Introduction

The Board of Directors ("Board") of MPay wishes to announce that ManagePay Services Sdn. Bhd., a wholly-owned subsidiary of the Company ("MPSB") had on 4 November 2025 entered into a MPay White Label Mobile Wallet and MPay Co-branded Mastercard Prepaid Card Issuing and Licensing Agreement for PERWIRA Super App Project ("Agreement") with Taksim Pertama Sdn Bhd ("TAKSIM") to engage MPSB to issue 2 designated payment instrument products licensed by Bank Negara Malaysia (“BNM”) under the Financial Services Act 2013, namely MPay White Label Wallet and MPay Co-branded Mastercard Prepaid Card  targeting the Pertubuhan Perwira Niaga Malaysia (“PERNAMA”) and MINDEF ecosystems in Malaysia to be branded and launched within 12 months from the date of the Agreement, subject to the terms and conditions stipulated in the Agreement.

Information of the Parties

MPSB

MPSB is a BNM licensed Fintech company engaged in the business of development, provision and management of payment services, privilege and loyalty programmes, card issuing and acquiring business and its related payment technology, business know-how and security requirements thereto, and provision of logistics support.

TAKSIM

TAKSIM is a software application solution provider. TAKSIM has been awarded by Pernama Network Sdn. Bhd. ("PERNAMA") with the rights to develop, operate and maintain the PERWIRA Super Apps catering to the daily needs of the military personnel (both active and retired) and their families. Among the features offered are financial services, e-marketplace, exclusive discounts and loyalty rewards, government connect module, integrated health and wellness features, and an e-learning hub.

PERNAMA

PERNAMA operates a network of retail outlets at military camps nationwide selling consumer products, some at duty-free prices, to members of the armed forces and their families. The PERWIRA Super App will economically benefit the military community by delivering a tailored digital transformation for defence personnel, veterans, and all subsidiaries under MINDEF’s purview.

Salient Terms of the Agreement

The salient terms of the Agreement included, amongst others, the following:-

(a)        The Agreement shall be for an initial term of 5 years from the date of the Agreement and shall automatically be renewed for a further period of 5 years on the same terms and conditions.

(b)        MPSB agrees to collaborate with TAKSIM to issue and promote the PERWIRA Mobile Wallet and/or MPAY PERWIRA MasterCard Prepaid Card, subject to the terms and conditions of the Agreement.

(c)        Taksim shall complete the PERWIRA Super App prototype and to be approved by PERNAMA within 30 days after execution of this Agreement.

(d)        Both parties target to issue at least 500,000 Mastercard Prepaid Card within 12 months after execution of this Agreement.

Financial Effects of the Agreement

The Agreement will not have any effect on the issued share capital and shareholdings of the substantial shareholders of the Company. However, it is expected to contribute positively towards the earnings and net assets per share of the Company for the financial year ending 30 June 2026 and onwards.

Directors’ and Major Shareholders’ Interest

None of the Directors and/or major shareholders of MPay and/or persons connected with them have any interests, direct or indirect, in the Agreement.

Statement by Directors

Having considered all aspects of the Agreement, the Board of the Company is of the view that the Agreement is in the best interest of the Group.

Approvals required

The Agreement is not subject to approval of the shareholders of MPay and any relevant regulatory authorities.

This announcement is dated 12 December 2025.