The Board of Directors of MI TECHNOVATION BERHAD ("Company") wishes to announce that the Company has on 14 May 2023 filed a writ in the Penang High Court against Mr. Chin Yong Keong, the former Chief Operation Officer cum General Manager of the Company, primarily for breach of employment contract, abuse of legal process and the false or misleading statements contained in Mr.Chin's profile stated in the prospectus dated 9 May 2023 published by Edelteq Holdings Berhad pertaining to his employment history in the Company ("Writ") and the Company has on 16 May 2023 received the sealed Writ from the Penang High Court.

A Summary write-up of the Writ prepared by Messrs CK Lim Law Chambers, the solicitors representing the Company is attached for reference.

As at the date of this write-up, the Company's solicitors are taking steps to effect service of the Writ on Chin Yong Keong.

This announcement is dated 17th May 2023.