We refer to the announcement made by MI dated 28 September 2026 and our announcement dated 1 October 2026 pertaining to the to the declaration of distribution of up to 9,000,000 ordinary shares in Mi Material Holding Pte. Ltd. (to be renamed Mi Material Holding Limited) ("Mi Material") ("Distribution Shares") to the entitled shareholders of MI by way of dividend-in-specie, on the basis of 1 Distribution Share for every 100 existing ordinary shares held in MI (excluding treasury shares) as at 5:00 p.m. on 12 October 2026.

In accordance with our Deed Poll dated 13 April 2026, the terms and conditions of MI-C54 shall not be adjusted as the adjustments amount to less than 2% of the Exercise Price and Exercise Ratio being changed.

This announcement is dated 8 September 2026.