We refer to the Company’s announcement dated 25 November 2022 in relation to the Heads of Agreement ("HOA"). Unless otherwise defined, the definitions set out in the Announcement shall apply herein.

The Board of Directors of SMTrack wishes to announce that the HOA was expired on 24 May 2023 and the four (4) Consortium Parties, SMTrack, MQ Technology Berhad, Jiankun International Berhad and Sersol Berhad [“Consortium Parties”] are mutually agreed not to extend the HOA.

The Consortium Parties will collaborate in future if there are any possibilities.

This announcement is dated 2 June 2023.