Reference is made to the Company’s announcements made on 19 August 2024, 23 August 2024, 19 February 2025, 21 February 2025, 19 May 2025, 18 June 2025, 31 July 2025, 2 September 2025 and 30 September 2025 in respect of the Proposed Acquisition. Unless otherwise defined, all defined terms and acronyms used herein shall have the same meanings as set out in the announcement made on 19 February 2025.

The Board of Directors of the Company wishes to announce that TCCSB has on 27 October 2025 issued a written termination notice to the Vendor to terminate the SSA in respect of the Proposed Acquisition due to the adverse findings on the Target Company prior to the completion of the SSA.

Nonetheless, TCCSB has agreed to waive their entitlement to the agreed liquidated damages of RM840,000.00, being a sum equivalent to 10% of the Purchase Consideration. Pursuant thereto, the Vendor has on 27 October 2025 refunded the Earnest Deposit of RM168,000.00 paid by TCCSB in respect of the Proposed Acquisition.

Following the termination of the SSA, none of the parties shall have any further rights or obligations under the SSA.

The said termination of the SSA will not have:

(1)  any effect on the issued and paid-up share capital and substantial shareholders’ shareholdings of Tex Cycle, as the Proposed Acquisition does not involve any issuance of new ordinary shares in Tex Cycle; and

(2)  any material impact on the net assets, gearing and earnings of Tex Cycle for the financial year ending 31 December 2025.

None of the directors, major shareholders of Tex Cycle and/or persons connected with them has any interest, whether direct or indirect, in the said termination of SSA.

This announcement is dated 27 October 2025.