The Board of Directors of SMTRACK wishes to announce that the Company had received a notice in writing pursuant to Section 281(2) of the Companies Act, 2016 from Messrs Russell Bedford LC PLT ("Russell Bedford") dated 20 March 2023 on their resignation as Auditors of the Company and Group with effect from 20 March 2023.

The resignation of Russell Bedford is on voluntary basis due to resources constraint to allocate time to carry out audit for the newly acquired subsidiary, namely V Ultimate Sdn Bhd (“V Ultimate”), more particularly as Russell Bedford have yet to receive the management accounts for V Ultimate and its subsidiaries as of to-date for them to finalise the audit for the financial year ended 31 December 2022.

Save for the above, there are no any matters that need to be brought to the attention of the shareholders of the Company in respect of the resignation of the Auditors.

This announcement is dated 20 March 2023.