The Board of Directors (Board) of MAG wishes to announce that the Company had on 22 March 2024 received a notice in writing dated 22 March 2024 from Moore Stephens Associates PLT (Moore Stephens) of their resignation as the Auditors of the Company pursuant to Section 281 of the Companies Act 2016.

The resignation of Moore Stephens is a voluntary resignation due to the constraint of its resources. Further, the Board also wishes to inform that the Company is not aware of any other matters that need to be brought to the attention of the shareholders of MAG.

The Company is in the midst of identifying new Auditors, further announcement on the engagement of new Auditors will be made by the Company in due course.

This announcement is dated 25 March 2024.