Unless otherwise defined, the defined terms used in this announcement shall carry the same meaning as those defined in our announcements dated 28 April 2026 and 28 January 2026 ("Announcements").

Reference is made to the Announcements in relation to the tripartite MOU entered into between Sasbadi, Intel and Maistorage.

The Board of Directors of the Company wishes to provide an update on the progress of the MOU.

The collaboration has achieved its planned technical milestones in the development of its next-generation on-premise AI solution for education.

The solution has been successfully deployed on Intel's next-generation hardware platform and has demonstrated the expected interoperability with Maistorage's AI middleware. Initial performance evaluation and benchmarking have also been successfully carried out, establishing baseline metrics for subsequent optimisation and validation.

The parties are currently conducting further testing using multiple fine-tuned AI models to evaluate comparative performance and optimise the overall solution architecture.

The collaboration continues to make steady progress towards delivering an efficient and cost-effective on-premise AI solution designed to democratise AI adoption in education.

The Board will make further announcements as and when there are material developments in relation to the MOU.

This announcement is dated 28 July 2026.