5 ANNUAL REPORT 2025 MST GOLF GROUP BERHAD MST Golf Group Berhad (“MST Golf” or “the Group”) presents its Annual Report 2025 (“Report” or “AR 2025”) for the financial year ended 31 December 2025 (“FY2025”). This Report outlines our financial and operational performance, strategic execution, and Environmental, Social & Governance (“ESG”) commitments for FY2025. The aim of this Report is to transparently provide relevant and comprehensive insights into the Group’s achievements, challenges and performances, enabling stakeholders to assess both our short and long-term progress. It also outlines our forward-looking priorities and strategies, and how we continue to create sustainable value for customers, employees, suppliers, shareholders and communities. Scope and Boundary The Report covers our primary operations across retail, wholesale & distribution, loyalty, learning & fitting, indoor golf, corporate merchandise & events, and golf-related business segments across our geographical footprint. It presents financial highlights, operational progress, strategic developments, and sustainability efforts, reflecting our ongoing commitment to responsible and ethical business practices. Reporting Suite For a comprehensive understanding of MST Golf’s ESG performance, stakeholders are encouraged to refer to the accompanying Sustainability Statement on pages 41 to 96 of this Report. The statement expands on our sustainability framework, strategy, initiatives and impact across the Group. Applied Frameworks In preparing this Report, the Group adheres to the following reporting/governance frameworks and guidelines (applied in part or full) in the development of this Report: • Malaysian Code on Corporate Governance (“MCCG”) • Main Market Listing Requirements (“MMLR”) issued by Bursa Malaysia Securities • Companies Act 2016 (“CA 2016”) • International Financial Reporting Standards (“IFRS”) • IFRS Sustainability Disclosure Standards (IFRS S1 and S2) • Malaysian Financial Reporting Standards (“MFRS”) • Corporate Governance Guide – 4th Edition issued by Bursa Malaysia Securities Forward-Looking Statements This Report includes forward-looking statements relating to the Group’s outlook and business direction. Keywords or words such as “might”,“forecast”,“anticipate”,“project”,“may”,“believe”, “predict”,“expect”,“continue”,“will”,“estimate”,“target” and similar expressions are utilised. These statements are based on various assumptions and are subject to numerous risks, uncertainties and contingencies beyond MST Golf’s control. More importantly, they are not to be construed as a guarantee to our operating performance or financial outcomes. Unexpected events and actual results may significantly differ from current expectations, impacted by factors such as emerging business opportunities, changes in the Group priorities, global and national economic conditions, government policies and other considerations. Feedback We welcome feedback, enquiries or suggestions regarding this Report or any aspect of our business. Please reach out to us at investor.relations@mstgolf.com
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