We refer to the Company's announcements made on 10 April 2026 and 14 April 2026 in relation to the Writ of Summons and Statement of Claim filed by SET Business Advisory and Consulting Sdn Bhd ("Plaintiff") against its subsidiary, Toyo Ink Group Berhad ("TIGB"), and its former Group Managing Director, Chew Cheong Loong (collectively, "the Defendants") at the High Court of Malaya at Shah Alam (Suit No. BA-22NCvC-113-03/2026) (the "Suit").

Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in the previous announcements.

The Board of Directors of the Company wishes to provide the following update on the Suit:

1. Defendants' Defence and First Defendant's Counterclaim (filed 14 May 2026)

On 14 May 2026, the Defendants' solicitors filed the following with the Court:

(a)  the Defendants' Defence, disputing the Plaintiff's claim for RM12,000,000.00 in its entirety; and

(b)  the First Defendant's (TIGB's) Counterclaim against the Plaintiff for the sum of RM3,900,000.00, on the basis that the Plaintiff had already been overpaid under the Referral Agreement. 

2. Plaintiff's Reply to Defence and Defence to Counterclaim (filed 28 May 2026)

On 28 May 2026, the Plaintiff filed its Reply to Defence and Defence to Counterclaim. 

3. Next steps

The next Case Management has been fixed on 18 June 2026. 

The financial and operational impact of the Suit on the Group, as disclosed in the Company's announcement dated 14 April 2026, remains unchanged. The Counterclaim does not give rise to any additional financial liability for the Group.

The Company will continue to make the necessary announcements should there be any material developments in relation to this matter and will modify and/or update its disclosures as appropriate.

This announcement is dated 3 June 2026.