The Board of Directors of Eonmetall Group Berhad ("EGB") (“Board”) wishes to announce that, upon recommendation by the Employees’ Share Option Scheme (“ESOS”) Committee pursuant to Clause 8.8 of the ESOS By-Laws, the Tranche 1 ESOS Options previously allocated and announced on 26 May 2023 have been cancelled (“Tranche 1 Cancellation”). All eligible Directors and employees had consented, in writing, to the Tranche 1 Cancellation. 

The Tranche 1 Cancellation affected a total of 41,000,000 ESOS Options, including 8,500,000 options allocated to Directors. The decision was made after careful consideration of the prevailing market conditions, where the current market price of EGB shares is significantly below the Option Price of RM0.48, rendering the options economically non-viable.

The Board is of the view that the Tranche 1 Cancellation is in the best interest of the Company, as it allows for the possibility of future reissuance of ESOS Options at a price more aligned with current market conditions, thereby preserving the potential for capital inflow and employee motivation.

Any future reissuance of ESOS Options will be subject to compliance with the relevant provisions of the ESOS By-Laws and other applicable regulations.

This announcement is dated 10 November 2025.