The Board of Directors of Inari wishes to announce that the Company and  Sanan Optoelectronics Co., Ltd (“Sanan”) had on 1 August 2025 entered into a Share Purchase Agreement (“SPA”) with Lumileds Subholding B.V. (“Seller”) wherein the Company and Sanan have agreed to jointly acquire 100% equity interest in Lumileds Holding B.V. and its 11 Asian and European subsidiary companies (collectively referred to as “Lumileds International”) from the Seller for a total enterprise value of USD239.0 million (RM1,027.7 million, based on indicative USD-RM exchange rate of 4.30) (“Proposed Joint Acquisition”).

In conjunction with the Proposed Joint Acquisition, Inari had on even date entered into Collaboration Agreement (“CA”) and Shareholders’ Agreement (“SHA”) with Sanan for the purpose of regulating the respective rights and obligations in Lumileds International and relationship with one another upon completion of the Proposed Joint Acquisition.

Further details of the Proposed Joint Acquisition are set out in the ensuing sections of this announcement.

This announcement is dated 1 August 2025.