INSIGHTS ANALYTICS BERHAD (“IAB” OR “THE COMPANY”)

MEMORANDUM OF UNDERSTANDING BETWEEN INSIGHTS ANALYTICS BERHAD AND SARAWAK ARTIFICIAL INTELLIGENCE CENTRE SDN. BHD. IN RELATION TO INITIATIVES ON ARTIFICIAL INTELLIGENCE AND DIGITAL TWIN SOLUTIONS

1. INTRODUCTION

The Board of Directors of IAB is pleased to announce that on 22nd October 2025, the Company had entered into a Memorandum of Understanding (“MOU”) with Sarawak Artificial Intelligence Centre Sdn. Bhd. (“SAIC”). The MOU outlines the intention of both parties to collaborate on the initiatives on Artificial Intelligence (“AI”) and Digital Twin Solution (“AI Twin”).

2. INFORMATION ON SAIC

SAIC was incorporated in Malaysia on 7th August 2024 [Registration Number 202401032435 (1578284-P)] as a private limited company under the Companies Act 2016. It is primarily involved in research and development on engineering and technology.

SAIC is wholly owned by the State Government of Sarawak, with a vision to develop sovereign AI technologies for Sarawak to drive sustainable economic growth by leveraging advanced artificial intelligence solutions.

3. SCOPE OF COLLABORATION

The MOU entered between IAB and SAIC (collectively referred to as the “Parties”) to establish a basis of cooperation and collaboration between the Parties in respect of the AI Twin, and subject always to the terms and conditions of the MOU and to all applicable laws, regulations, and governmental requirements in force from time to time, the Parties hereby express their mutual joint intention to cooperate, assist, and support each other in the following areas:

• joint development, and deployment, of AI platforms, digital twin technologies, and advanced analytics solutions;
• application of digital twin and AI technologies to mission-critical sectors, including energy and utilities, water, construction, transportation, and agriculture;
• establishment of pilot projects, demonstration sites, and training programmes in Sarawak to promote sovereign AI and digital economy growth;

(collectively referred to as “Programme”).

4. SALIENT TERMS OF THE MOU

4.1 Roles and Responsibilities

The Parties agree and acknowledge that their respective roles and responsibilities shall be as follows:

SAIC shall undertake to:

• provide facilities, research infrastructure, and institutional creditability to support joint initiatives;
• act as a partner to Sarawak Government agencies, academia, and government-linked companies;
• facilitate regulatory and policy alignment for pilot projects, including compliance with applicable Sarawak and national frameworks; and
• coordinate outreach to universities, industry partners, and training institutions to strengthen knowledge transfer.

IAB shall undertake to:

• provide advanced AI solutions, digital twin platforms, and technical expertise;
• contribute human resources, software, intellectual property, and research and development outcomes;
• lead the commercialization strategy and facilitate industry engagement for domestic and international markets; and
• share best practices from ongoing AI and digital twin projects across energy, utilities, water, construction, transportation, and agriculture.

The Parties acknowledge their respective roles may include providing financial support for the implementation of the Programme or activities under the MOU, if agreed, subject to the execution of a separate agreement setting out the scope, objectives, and terms of the funding.

4.2 Duration and Termination

The MOU shall remain effective for a period of five (5) years until earlier occurrence of any of the following:

• the expiration of MOU;
• the execution by the Parties of a definitive agreement for the implementation of the purposes of the MOU , which expressly supersedes the MOU; and
• terminated pursuant to the terms of MOU.

5. EFFECTS OF THE MOU

The MOU is not expected to have any effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of IAB for the financial year ending 30th April 2026.

6. INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED TO THEM

None of the Directors, major shareholders of IAB, or persons connected to them have any direct or indirect interest in the MOU.

7. DIRECTORS’ STATEMENT

The Board, having considered all relevant aspects of the MOU, is of the opinion that the MOU is in the best interest of IAB.

8. APPROVALS REQUIRED

The MOU is not subject to the approval of IAB shareholders or any regulatory authorities.

This announcement is dated 22nd October 2025.