Reference is made to the Company’s announcement dated 15 May 2025 (“VGO Announcement”), 5 June 2025, 23 June 2025, 30 June 2025, 7 July 2025, 23 July 2025, 25 July 2025, 28-30 July 2025, 1 August 2025 and 4 August 2025. Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the VGO Announcement.

The Board of Directors of AYS wishes to inform that Cosmosteel has announced that on 4 September 2025, the SGX-ST informed the Cosmosteel that based on the submissions and representations made to the SGX-ST, the latter advised that as the Offeror and its concert parties hold, in aggregate, more than 90% of all the issued and paid-up ordinary shares in the capital of Cosmosteel (excluding treasury shares), resulting in the Cosmosteel’s free float falling below 10%, and taking into consideration the Offeror’s intention to exercise its right to the Compulsory Acquisition, the SGX-ST has no objection to the proposed delisting (the “Delisting”) of Cosmosteel from the Official List of the SGX-ST (the “Delisting Approval”).

The Delisting is subject to:

(a)        the Offeror exercising its right of compulsory acquisition;

(b)        Cosmosteel making an immediate announcement of the Delisting Approval; and

(c)        submission of a written confirmation that Cosmosteel is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company (the “Written Confirmation”).

As at 4 September 2025, Cosmosteel has announced the Delisting Approval and will be submitting the Written Confirmation to the SGX-ST confirming that it is not aware of any information that will have a material bearing on investors’ decision which has yet to be announced.

The Company will announce the date and time of the Delisting in due course.

This announcement is dated 8 September 2025.