The Board of Directors of Mi Technovation Berhad ("Company") wishes to announce that arising from strategic business direction within the Group, Suzhou Mi Equipment Co Ltd ("Mi Equipment China"), a wholly-owned subsidiary of the Company, had entered into a shareholding transfer agreement with Mi Semiconductor (Ningbo) Pte Ltd ("MiSE Ningbo"), also a wholly-owned subsidiary of the Company, wherein Mi Equipment China shall transfer its entire shareholding in Talentek Microelectronics to MiSE Ningbo at Mi Equipment China's original subscription price ("Shareholding Transfer" or "Consolidation of Investment").

Please refer to the attached for details of the Shareholding Transfer or Consolidation of Investment

This announcement is dated 24th day of June 2024