(Unless otherwise stated, defined terms used in this announcement shall carry the same meanings as defined in the previous announcement in relation to among others, the Proposed Transfer)

Reference is made to the Company’s announcement dated 30 April 2025 and 2 July 2025 in relation to the Proposed Transfer.

On behalf of the Board, KAF IB wishes to announce that the Company has resolved not to proceed with the Proposed Transfer at the current juncture. Accordingly, on 3 October 2025, the Company had withdrawn the application for the Proposed Transfer, which was submitted to the SC on 30 June 2025.

This decision was made after the Board’s due and careful consideration of the Group’s current financial and operational position, as well as the strategic timing of the Proposed Transfer. In view of this, the Board is of the opinion that it would be prudent to withdraw the Company’s application for the Proposed Transfer at this juncture.

Nonetheless, it is the intention of the Company to relook on the Proposed Transfer in the future. The Board will reassess the feasibility of re-submitting the application for the Proposed Transfer at a more appropriate time.

This announcement is dated 3 October 2025.