Reference is made to the announcement dated 15 April 2026 in relation to the memorandum of understanding entered between Chongqing Qiulong Technology Co., Ltd. ("QIULONG") and Ni Hsin EV Tech Sdn. Bhd. ("NHEVT").

The Board of Directors of the Company ("Board") is pleased to announce that NHEVT, a wholly-owned subsidiary of the Company had on 21 May 2026 entered into a Motorcycle Completely Knocked Down ("CKD") Assembly Cooperation Agreement ("Agreement") with QIULONG to cooperate on the CKD assembly and sale of SURRON brand electric motorcycles in Malaysia, subject to and upon the terms and conditions of the Agreement.

Please refer to the attachments below for further details of the Agreement.

This announcement is dated 21 May 2026.