The Board of Directors of Safetyware Group wishes to announce that the Company had on 12 August 2024 incorporated a wholly-owned subsidiary, namely Keyway Digital Labs Sdn Bhd (“Keyway Digital Labs”) with an initial share capital of RM1,000.00 comprising 1,000 ordinary shares.

The intended business activities of Keyway Digital Labs are software development and IT solutions, digital transformation and technology consulting, and artificial intelligence and machine learning solutions.

The said incorporation is not expected to have any material impact on the earnings, and net assets of the Company for the financial year ending 31 December 2024.

The said incorporation is not subject to the approval of the Company’s shareholders.

None of the directors and/or major shareholders of the Company and/or persons connected with them have any interest, whether direct or indirect, in the said in corporation.

The Board of Directors of the Company is of the opinion that the said incorporation is in the best interest of the Company.

This announcement is dated 12 August 2024.