(For consistency, the abbreviations used throughout this announcement shall have the same meanings as those defined in the Circular dated 17 September 2025, where applicable, unless stated otherwise or defined herein. Further, all the exchange rates used herein to convert USD to RM shall be based on USD1.00:RM4.2415 (Source: BNM middle rate as at 15 July 2025, being the latest practicable date of the initial announcement of the Proposed Acquisition))

Reference is made to the announcements dated 24 July 2025 and 17 September 2025 in relation to the Proposed Acquisition.

On 23 July 2025, the Group entered into the ASA to acquire the Aircraft from GASL for a cash consideration of USD25.90 million (equivalent to approximately RM109.85 million) and subsequently obtained shareholders' approval for the Proposed Acquisition on 14 October 2025. The Proposed Acquisition was intended for the Group to gain full ownership and control over the Aircraft, reducing the dependency on third-party lessors and enhance flexibility in fleet management.

On behalf of the Board, TA Securities wishes to announce that the Group and the Vendor (collectively referred to as the "Parties") have on 23 April 2026 entered into a termination agreement to mutually terminate the ASA.

The termination of the ASA was arrived at after due consideration of, among others, the non-fulfilment of the condition precedent by the Group, relating to the fundraising exercise for financing the Proposed Acquisition and the Group's strategic reassessment of its fleet composition. Following the shareholders' approval for the Proposed Acquisition, there have been changes in the Group's management and strategic direction with regard to the Group's aviation business. In December 2025, the Group undertook a review of its aviation business strategy and has since shifted from a narrowbody-only freighter strategy to a more diversified fleet mix comprising both narrowbody and widebody freighters, in order to better align with evolving market demand, improve operational flexibility and enhance long-term yield optimisation.

Pursuant to the termination of the ASA, the Parties have also mutually agreed to terminate the Lease Agreement in respect of the Aircraft. The Parties have further agreed that the deposit paid for the Proposed Acquisition amounting to USD5.35 million (equivalent to approximately RM22.69 million) and the deposit paid in relation to the Lease Agreement amounting to USD0.77 million (equivalent to approximately RM3.27 million) shall be applied towards the settlement of outstanding lease payments, agreed losses and costs incurred in relation to redelivery of the Aircraft, estimated at a total of approximately USD5.45 million (equivalent to approximately RM23.12 million). Any excess, if any, after such application, the Vendor shall pay to the Group in accordance with the agreed settlement arrangement between the Parties. Conversely, any shortfall arising from such application will be borne by the Group.

This announcement is dated 24 April 2026.