Further to the announcement made by the ATA IMS Berhad (“ATAIMS” or “the Company”) on 1 March 2023 relating to the receipt of a sealed copy of Writ of Summons and Statement of Claim dated 24 February 2023 filed by Johnson Electric Industrial Manufactory Limited (“Johnson”) via suit no. JA-22NCC-15-02/2023 filed in the High Court of Malaya at Johor Bahru, Johor, the Board of Directors wish to announce that both parties have reached an amicable settlement by way of Consent Judgement before the High Court of Johor Bahru on 4 Apr 2023, and the Company had received the sealed copy of the Consent Judgement dated 17 April 2023 on 20 April 2023.

The claims by the Plaintiff will be settled as follows:

1. Amounts owing to the Plaintiff for finished goods will be paid by staggered payments over three months; and

2. The raw materials held by the Plaintiff for the Defendant will be consumed by the Plaintiff manufacturing new finished goods and shipment of these new finished goods to the Defendant over the next few months or by June 2024 under normal trade terms, in accordance to the purchase orders to be provided by the Defendant.

This Consent Judgement marks the end of legal proceedings relating to this Writ of Summons.

This announcement is dated 20 April 2023.