1.  INTRODUCTION

The board of Directors of Mi (“Board”) wishes to announce that the Company is considering the pursuit of a separate listing of its semiconductor material business unit subsidiaries on the SGX.

2. DETAILS OF THE PROPOSED LISTING

The details of the Proposed Listing have yet to be determined. However, the subsidiaries in the semiconductor material business unit will continue to remain as subsidiaries of Mi upon completion of the Proposed Listing. A detailed announcement in relation to the Proposed Listing will be made in due course, once the Company has finalised and approved the structure of the Proposed Listing.

The Board has appointed Oversea-Chinese Banking Corporation Limited (“OCBC”) as the issue manager, global coordinator and bookrunner for the Proposed Listing in Singapore. The Board wishes to highlight to the shareholders of the Company that the Proposed Listing is still at a preliminary stage and fairly extensive preparatory work will be required and that such preparatory work may involve an uncertain time frame.

3. RATIONALE AND BENEFITS OF THE PROPOSED LISTING

The rationale and benefits of the Proposed Listing are as follows:

(i)  the Proposed Listing will enable the semiconductor material business unit to gain recognition and corporate stature through having its own listing status and further enhance its corporate reputation which will assist in the expansion of its customer base;

(ii) the Proposed Listing will enhance efficiency by way of promoting a clearer segregation of business responsibilities and operations for Mi’s business units (i.e. between its semiconductor equipment business unit and semiconductor material business unit), thereby enabling the respective management team to focus on opportunities specific to each of the business unit;

(iii) the Proposed Listing is expected to unlock shareholders’ value in the semiconductor material business unit and provide a transparent valuation benchmark for the same in Singapore; and

(iv) the Proposed Listing will provide the Company and its semiconductor material business unit with a more diverse fund raising platform in the future i.e. by tapping the Singapore equity capital markets, which in turn will increase its financing flexibility to fund its future growth.

4.   APPROVALS REQUIRED

The Proposed Listing is subject to, amongst others, satisfactory due diligence and assessment of suitability for listing by the relevant professional advisers. The Proposed Listing is also subject to approvals being obtained from the following:

(i) the relevant authorities in Singapore and Malaysia (where required);

(ii) the shareholders of the Company at an extraordinary general meeting to be convened; and

(iii) any other relevant authorities and/or parties, if required.

In addition, the Proposed Listing is subject to assessment of other factors such as general economic and capital market conditions.

There is no assurance that such approvals above would be obtained or that the market conditions are conducive for a listing and as such there is no assurance that the Proposed Listing will occur.

The Company will make further announcements in relation to the Proposed Listing, as and when appropriate, under the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

This announcement is dated 2 March 2026.