The Board of Directors of Magma ("Board") wishes to announce that Magma had on 30 September 2026 jointly incorporated Magma Food Ventures Sdn Bhd ("MFVSB") with Evermont Holdings Sdn Bhd ("EHSB"), a company in which Dato' Seri Lee Chong Wei ("DSLCW"), being a major shareholder of Magma, has interests in. MFVSB shall become a 80%-owned subsidiary of Magma, while EHSB shall hold the remaining 20% equity in MFVSB.

MFVSB had also, on 8 October 2026, entered into a conditional share sale agreement ("SSA") with Lim Kean Leong ("Kean") and Loo Yin Piau ("Christine") (collectively, the "Vendors") for the acquisition of the entire equity interest in Magma Christine Sdn Bhd ("MCSB") for a total cash consideration of RM2,800,000 ("Purchase Consideration"). Separately, an amount of RM400,000 owing by CL Bakery Sdn Bhd ("CLB"), a company which shall become a wholly-owned subsidiary of MCSB as more specifically explained in the following paragraph, to the Vendors ("Amount Owing to Vendors"), which does not form part of the Purchase Consideration, will remain a liability of CLB after Completion (as defined in Section 5 of Appendix I).

Please refer to the attachment for further details of the Proposed Acquisition.

This announcement is dated 8 October 2026.