The Board of Directors of Mi Technovation Berhad (“the Company”) wishes to announce that Mi Technovation Berhad and Mi Equipment (M) Sdn. Bhd. have accepted the offer and reached a global amicable settlement with the First to Eighth Defendants in the Penang High Court Civil Suit No. PA-22NCC-49-07/2023 (“Suit 49”) as well as the Defendant in the Penang High Court Civil Suit No. PA-22NCvC-82-05/2023 (“Suit 82”).

In view thereof:-
a) the Plaintiffs have withdrawn and/or discontinued their claims in Suit 49 and in Suit 82;
b) the First to Eighth Defendants in Suit 49 have withdrawn and/or discontinued their counterclaim against the Plaintiffs; and
c) the Defendant in Suit 82 has withdrawn and/or discontinued his counterclaim against the Plaintiff.

Further thereto, the Company has withdrawn and/or discontinued its claim against the Ninth Defendant in Suit 49.

The aforesaid mutual withdrawals and/or discontinuances are without liberty to file afresh and with no order as to costs.

This announcement is dated 4th day of July 2025.