We refer to the Company’s announcements dated 6 May 2020 and 12 May 2020 respectively pertaining to the manufacturing of Nasal Swabs for use in COVID-19 testing by 3D printing.

The Board of Directors of K-One Technology Berhad (“K-One Tech” or ‘Company”) wishes to update that the Company’s wholly owned subsidiary, K-One Resources Sdn. Bhd (“K-One Res”) has commenced pilot manufacturing of the Nasal Swab end May 2020 in accordance to plan. It has soft launched to introduce the Nasal Swab product. It has submitted to the authorities concerned; Institute for Medical Research (“IMR”) and Medical Device Authority (“MDA”) under the Ministry of Health, Malaysia for evaluation and approval consideration. The Company will make the necessary announcement in this respect when there is further update.

In relation to the Nasal Swab, the Board of Directors also wishes to announce that K-One Res has signed a Memorandum of Understanding (“MOU”) on 15 June 2020 to collaborate with Dr. Mohd Erham who is a medical specialist in the field of anaesthesiology and critical care to advise on medical aspects in the process of developing, prototyping, manufacturing and supply of medical devices to the medical/healthcare system in Malaysia.

The MOU is not expected to have any material effect on the earnings and net asset per share of the Company for the financial year ending 31 December 2020. There is minimal risks related to the MOU as it is related to provision of advisory service pertaining to medical aspects in the development and supply of medical devices such as Nasal Swab in Malaysia.

None of the Directors and/or major shareholders of the Company and K-One Res and/or persons connected with them have any direct or indirect interest in the MOU.

The MOU does not require the approval of the Company shareholders or relevant government authority.

The Board of Directors of K-One Tech is of the opinion that the MOU is in the best interest of the Company.

This announcement is dated 16 June 2020.