The Board of Directors of Magma Group Berhad (“Magma” or “the Company”) refers to an article published in The Corporate Secret dated 16 August 2025, titled “Skandal MBI: Selepas Tan Sri Alex Oii, kini Dato’ Sri Lee Hock Seng Pengerusi Magma Group Dato’ Low Eng Hock CEO Ivory Properties ditahan” (“the Article”).

The Board wishes to clarify that Dato’ Sri Lee Hock Seng is currently assisting the authorities with the investigation referred to in the Article. The said investigation is not related to, nor connected with, the business or operations of the Company and its subsidiaries.

The Board further confirms that there is no financial or operational impact arising from this matter on the Company and its subsidiaries.

The Company will make the necessary announcements to Bursa Malaysia Securities Berhad as and when there are material developments in accordance with the Main Market Listing Requirements.

This announcement is dated 25 August 2025.