Update in relation to Sincere Acres Sdn Bhd

On 4 October 2023, the Company announced, amongst other matters, that MobilityOne Sdn Bhd ("M1 Malaysia"), the Group's wholly-owned operating subsidiary in Malaysia, had completed the acquisition of a 49% equity interest in Sincere for a cash consideration of RM30,000,000. It was further announced that whilst the first tranche, representing RM2.0 million, had been paid by M1 Malaysia to United Flagship Development Sdn Bhd (the "Vendor"), the second tranche, representing the balance of RM28.0 million (the "Second Tranche"), was required to be paid by M1 Malaysia by 8 March 2024 (the "Second Tranche Payment Date").

The Second Tranche Payment Date has been subject to several prior extensions, as announced by the Company most recently on 15 September 2025.

On 16 December 2025 the Vendor agreed with M1 Malaysia to further extend the Second Tranche Payment Date for payment of the Second Tranche plus accrued interest to 28 February 2026 (the "Extended Second Tranche Payment Date").

As part of this extension, M1 Malaysia has agreed to pay the Vendor in cash the accrued interest for the period from 1 December 2025 to 28 February 2026 totalling RM705,753 in three equal monthly instalments in December 2025, January 2026 and February 2026. In line with the Second Tranche payment terms, any payment made in relation to the Second Tranche will continue to be subject to an interest charge of 10% per annum.

All other terms of the acquisition of Sincere are expected to remain unchanged.