The Board of Directors of EVD Berhad wishes to announce that EVD Engineering Sdn. Bhd. (“EVDE”), a wholly-owned subsidiary of the Company, had on 25 September 2025 been served with a Winding Up Petition dated 22 September 2025 and Affidavit Verifying Petition dated 23 September 2025 by the Petitioner through their solicitors, for an alleged amount RM627,000.00 purportedly due and owing to the Petitioner.

EVDE is not a major subsidiary of the Company and the Company’s total cost of investment in EVDE is RM5,000,000.

Further details pertaining to the Winding Up Petition are as follows:

1. The date of presentation of the Winding Up Petition and the date the Winding Up Petition was served on EVDE

The date of presentation of the Winding Up Petition was on 22 September 2025 and the Winding Up Petition was served on EVDE on 25 September 2025.

2. The particulars of the claim under the Winding Up Petition, including the amount claimed for under the Winding Up Petition and the interest rate

Pursuant to the Winding Up Petition, the Petitioner claimed that EVDE has failed to honour the terms under a settlement agreement dated 12 July 2024 entered into between the Petitioner and EVDE (“Settlement Agreement”), leaving an outstanding balance of RM627,000.00. The Petitioner requested for the following orders from the Court:

(a) that EVDE be wound up by the Court under the provisions of the Companies Act 2016;

(b) that the official receiver to be appointed as the liquidator of EVDE;

(c) that the costs of the Winding Up Petition be paid out of the assets of EVDE; and

(d) that such other order may be made in the premises as shall be just.

3. The details of the default or circumstances leading to the filing of the Winding Up Petition against EVDE

The Petitioner claimed that EVDE was in breach of the Settlement Agreement and thereafter demanded the alleged outstanding balance of RM627,000.00 by way of a Notice pursuant to Section 465(1)(e) read together with Section 466(1)(a) of the Companies Act 2016. Subsequently, EVDE, through its solicitors, has disputed the alleged outstanding balance of RM627,000.00 and denied the Petitioner’s allegations, contending that the Petitioner had failed to comply with its obligations, by way of letters issued to the Petitioner’s solicitors. The Petitioner’s solicitors further alleged that EVDE’s dispute is unsubstantiated.

4. The financial and operational impact of the Winding Up Petition

As at the date of this announcement, the Winding Up Petition is not expected to have material financial impact (except for the potential liability amounting to RM627,000.00) and does not have any operational impact on the Group.

5. The expected losses, if any arising from the Winding Up Petition

The expected losses, if any, arising from the Winding Up Petition is RM627,000.00.

6. Steps taken and proposed to be taken

EVDE is seeking the necessary legal advice to resolve and/or defend against this matter.

The case management date has been fixed by the Court on 22 October 2025 and the hearing date for this Winding up Petition is fixed on 10 December 2025.

The Company will make further announcement on any material development on this matter.

This announcement is dated 26 September 2025.