Reference is made to the Company’s announcement dated 27 February 2026 (“Previous Announcement”). Unless otherwise defined, all terms used herein shall have the same meanings as those used in the Previous Announcement.

The Board of Directors of the Company wishes to provide the following additional information in relation to the Disposal:

1. BASIS OF ARRIVING AT THE CONSIDERATION OF USD4.625 MILLION

The disposal does not involve the land on which the DIP plant is located. The consideration for the Disposal was derived based on quotations and/or a tender process conducted at market rates.

2. JUSTIFICATION FOR THE DISPOSAL

The DIP casting plant was commissioned in 1994 and it is now more than 30-year-old. The Company received two quotations from unrelated third parties for the Disposal, with the highest offer received amounting to USD4.625 million.

During the second half of 2025, the Company had assessed the need to discontinue the DIP plant in light of the market conditions. This would have resulted in impairment of book value of the plant and carrying cost. However, interested bidder offering a favourable price presented an attractive opportunity for the Company. As the written down value of the asset is substantially lower than the highest offer received, the Company has decided to proceed with the Disposal to the party offering the highest bid.

3. UTILISATION OF PROCEEDS

The Disposal proceeds of USD4.625 million will be utilised to settle the Company’s working capital borrowings against inventory and receivables.

As at 31 December 2025, the working capital of the Company remained at RM120 million.

4. EXPECTED GAIN OR LOSS

The Disposal is expected to result in a gain of approximately RM7 million.

This announcement is dated 10 March 2026.