Reference is made to the Company’s announcements on 24 October 2024, 28 October 2024, 25 November 2024, 5 May 2025, 14 May 2025 and 10 November 2025 (“Announcements”) in relation to, amongst others, the Private Placement. Unless otherwise stated, all defined terms and abbreviations used in this announcement shall carry the same meaning as those defined in the Announcement.

On behalf of the Board, Mercury Securities wishes to announce that the Company had on 21 November 2025 withdrawn its application to Bursa Securities for a further extension of time to implement the Private Placement (“Extension of Time Application”). The withdrawal of Extension of Time Application was made after taking into consideration, amongst others, the Company’s subsequent engagements with potential placees in terms of timing of the implementation of the Private Placement, in which the potential placees indicated their interest to subscribe only in the first half of 2026 subject to market conditions. In line with this feedback, the Company also reviewed its broader funding objectives given that the Group has other viable funding options apart from the Private Placement. Arising from the engagements with potential placees and the Company’s overall capital planning needs, the Company had withdrawn the extension application at this juncture and reassess the optimal timing to undertake any new funding. Following the withdrawal, the approval from Bursa Securities to implement the Private Placement shall lapse on 24 November 2025.

This announcement is dated 21 November 2025.