Reference is made to the Company's announcement dated 26 June 2026 in relation to the term sheet entered into in connection with the Proposed Disposal by AYSS ("Term Sheet"), an indirect wholly-owned subsidiary of AYSV, of its 74.0% equity interest in its subsidiary, Steelaris to CosmoSteel ("Term Sheet Announcement"). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as defined in the Term Sheet Announcement.

The Board of Directors of AYSV wishes to announce that AYSS, an indirect wholly owned subsidiary of the Company, together with Hanwa Singapore (Private) Limited ("Hanwa"), Hyundai Corporation Singapore Pte. Ltd. ("Hyundai"), Handi Saswita and Yee Yeow Cheong (Yu Yaochang) (collectively referred to as "Vendors") has on 22 September 2026 entered into a Sale & Purchase Agreement ("SPA") with CosmoSteel to dispose of the Vendors' entire shareholding interest in Steelaris to CosmoSteel for a consideration of Singapore Dollar ("SGD") 7,000,000.00 ("Disposal Consideration") to be satisfied partly by cash 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 23 September 2026.