Reference is made to the Company's announcement made on 23 February 2026 and 26 January 2026 pertaining to the Memorandum of Understanding ("MOU") dated 26 January 2026 entered between AWC and TwinMatrix Technologies Pte. Ltd., the Board of Directors of AWC wishes to inform that there is no material development on the status of the MOU since the previous announcement made on 23 February 2026.

The Company will make the appropriate announcement on any new development to the MOU, if any.

This announcement is made on 25 May 2026.