Pursuant to Rule 9.19(38) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad (“AMLR”), the Board of Directors of Lambo Group Berhad (“Lambo” or “the Company”) wishes to announce that the Company's External Auditors, Messrs. ChengCo PLT had expressed the qualified opinion in the Company's Audited Financial Statements for the financial year ended 30 September 2023 (“Qualified Opinion”) :

1. QUALIFED OPINION AND KEY AUDIT MATTERS

Please refer to the attachment for the details of the Qualified Opinion and Key Audit Matters disclosed in the Independent Auditors’ Report.

2. STEPS TAKEN OR PROPOSED TO BE TAKEN TO ADDRESS THE KEY AUDIT MATTERS THAT RELATES TO THE QUALIFED OPINION

The Board will seek professional advice to look into the issues as highlighted in the qualified opinion section of the Independent Auditors’ Report.

3. TIMELINE

Barring any unforeseen circumstances, the Company expects to address the abovementioned issues relating to the Qualified Opinion in the coming financial year.

This announcement is dated 31 January 2024.