1. Introduction

After due deliberation by the Board of Directors of Northeast ("Board") and having taken into consideration the legal advice received by the Board, the Board wishes to announce that, the Company has been named as a defendant, together with the parties set out below, in two (2) Originating Summonses ("OS") filed in the High Court of Malaya at Georgetown that were served on the Company on 17 July 2026.

2. Particulars of the proceedings

The Company is named as the 3^rd Defendant in each OS.

3. Nature and brief background of the claims

Both OS are minority oppression actions brought under sections 346 and 223 of the Companies Act 2016. Chong Ewe Hean and Ng Meng Hang (collectively, the "Plaintiffs") are shareholders of Mountain Range, which is named as the 2^nd Defendant, is a major shareholder of Northeast, holding approximately 53.69% equity interest in Northeast.  

In substance, the OS concern a dispute among the Company's shareholders.

4. Reliefs sought

The principal reliefs sought in each OS are:

a) a declaration that the affairs of Mountain Range and the Company have been conducted by Mr. Ng Chay Chin oppressively;

b) an order that Mr. Ng Chay Chin, the 1^st Defendant purchase all the Plaintiff's shares in Mountain Range at a fair value to be determined by an independent valuer;

c) an order that Mr. Ng Chay Chin and Mountain Range provide full access to the books, records accounts and other documents necessary for the purpose of the valuation; and

d) costs against the 1^st and 2^nd Defendants.

5. The Company's position

Northeast has been named as a nominal party, as no relief is sought against it. The Board has sought legal advice and will take the appropriate steps to protect its interests, while maintaining a neutral position in this dispute between the shareholders of the Company.

6. Interests of Directors and major shareholders

Save as disclosed below, none of the other Directors or major shareholders of the Company has any interest, direct or indirect, in the proceedings:

a) the 1^st Defendant, Mr. Ng Chay Chin, is the Managing Director of the Company; and  

b) the 2^nd Defendant, Mountain Range, is a major shareholder of the Company.

7. Financial and operational impact

The OS do not seek any monetary sum from the Company. Based on the Board's present assessment and the legal advice received, the proceedings are not expected to have any material operational or financial impact on the Company and its group of companies ("Group").

8. Potential liability

Save for the legal costs to be incurred for the suits, the Company does not expect that there will be potential liability to be incurred by the Group, which upon becoming enforceable may have a material and adverse impact on the financial position of the Group at this juncture.

9. Further developments

Further announcement will be made to Bursa Malaysia Securities Berhad as and when there are any material developments in the suits as and when necessary.

This announcement is dated 27^th July 2026.