(Unless otherwise defined, defined terms used in this announcement shall carry the same meaning as those defined in the announcements dated 29 April 2026 and 30 April 2026 in relation to the Proposed RPS Set-Off ("Announcements")).

We refer to the Announcements. 

On behalf of the Board, RHB Investment Bank wishes to announce that Bursa Securities had, vide its letter dated 26 May 2026, resolved to approve the listing and quotation of 166,417,858 new ordinary shares in Magma to be issued pursuant to the Proposed RPS Set-Off subject to, amongst others, the following conditions:

1. Magma and RHB Investment Bank must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed RPS Set-Off;

2. Magma and RHB Investment Bank to inform Bursa Securities upon completion of the Proposed RPS Set-Off;

3. Magma and RHB Investment Bank to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed RPS Set-Off is completed;

4. Magma to furnish Bursa Securities with a certified true copy of the resolution passed by shareholders of the Company in general meeting approving the Proposed RPS Set-Off; and

5. Magma must ensure compliance with public shareholding spread requirements pursuant to Paragraph 8.02(1) of the Listing Requirements upon completion of the Proposed RPS Set-Off.

This announcement is dated 26 May 2026.