The Board of Directors of EVD wishes to announce that EV-Dynamic Sdn. Bhd., a wholly-owned subsidiary of the Company, had on 12 November 2024, received a sealed Writ of Summons and Statement of Claim filed by Messrs Wong & Partners on behalf of Hitachi Rail GTS Hong Kong Limited [formerly known as Thales Transport & Security (Hong Kong) Ltd] (“Plaintiff”) against EV-Dynamic Sdn. Bhd. (“Defendant”).

The details of the Writ of Summons and Statement of Claim are amongst others, as follows:

(a) payment of USD6,351,324.13 (equivalent to RM29,514,603.23, based on the currency rate of 1USD = RM4.647 as at 12 November 2024) set out below, or such other sums adjudged to be due and owing by the Court:

(b) general damages;

(c) alternatively, an assessment of all the losses and damages the Plaintiff is entitled to;

(d) interest pursuant to the Subcontract Side Agreement No. 1, alternatively interest at a rate deemed fit by the Court on all sums adjudged to be due and payable to the Plaintiff, to be calculated from the date of default or a date to be determined by the Court until full settlement;

(e) costs; and

(f) such further or other reliefs as the Court deems fit and just based on the circumstances.

The Company will make the necessary announcements on further material development in respect of the above matter in due course.

This announcement is dated 13 November 2024.