Pursuant to Paragraph 9.03 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Key ASIC Berhad (“Key ASIC” or “the Company”) wishes to inform that Key ASIC Semiconductor Ltd  (2036754) (BVI), a wholly-owned subsidiary of the Company had on 25 January 2021 entered into a contract with Canvas Technology Pte Ltd as follows :-

*Based on exchange rate of USD1.00:RM4.0425 as at 25 January 2021.

The Contract is expected to contribute positively to the net assets per share and earnings per share of Key ASIC and its subsidiaries for the financial year ending 31
May 2021 and 31 May 2022.

Key ASIC does not foresee any exceptional risks other than execution risks, political risks, pandemic risks and country risks associated with the Contract.

None of the Directors and/or major shareholders of Key ASIC or persons connected with them have any interests, direct or indirect, in the Contract.

This announcement is dated 25 January 2021.