The Board of Directors of AYSV wishes to announce that Ann Yak Siong (Singapore) Pte. Ltd. ("AYSS"), an indirect wholly owned subsidiary of the Company, together with Handi Saswita and Yee Yeow Cheong (Yu Yaochang) (each, a "Vendor" and collectively, the "Vendors"), have on 26 June 2026 entered into a binding term sheet ("Term Sheet") with Cosmosteel Holdings Pte. Ltd. ("CosmoSteel" or "Purchaser"), to set out the key commercial terms and conditions in respect of the proposed disposal by AYSS of its 74.0% equity interest in Steelaris Pte. Ltd. ("Steelaris") as well as the 8% equity interest each in Steelaris held by Handi Saswita and Yee Yeow Cheong to CosmoSteel for a consideration of Singapore Dollar ("SGD") 6,300,000.00 ("Disposal Consideration") to be satisfied partly by cash (50%) and the balance by the issuance of new ordinary shares of CosmoSteel at an issue price of SGD0.25 each ("Consideration Shares") ("Proposed Disposal").

Please refer to the attachment for details of the Proposed Disposal.

This announcement is dated 26 June 2026.