We refer to the Company’s announcements dated 5 November 2021, 8 November 2021, 11 November 2021, 16 November 2021, 25 November 2021, 26 November 2021, 26 April 2022, 5 May 2022, 9 November 2022 and 25 June 2024 in relation to the Private Placement. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements.

Pursuant to the Private Placement, the Company had raised total gross proceeds of approximately RM110.445 million for the upgrading of setting up new aluminium manufacturing plan for Kobay Group’s manufacturing division.  As at the date of this announcement, the Balance Proceeds from the Issuance of Shares and Private Placement stood at RM20.738 million (“Balance Proceeds”).

As part of the business strategic initiatives, the Board of Directors of Kobay Technology Bhd. (“the Board” or “the Company”) wishes to announce that the Company wishes to vary the utilisation of the Balance Proceeds raised from the Private Placement and reallocate the sum towards the working capital requirements of Kobay Group (“Proposed Variation”).

Kindly refer to the attachment for further details.

This announcement is dated 18 June 2025.