The Board of Directors of the Company is pleased to announce that the Company had on 28 August 2026 entered into a Memorandum of Understanding ("MOU") with Apex Ventures (Labuan) Limited ("APEX") (NI HSIN and APEX are collectively referred to as the "Parties" and individually as the "Party") with the intention to enter into a strategic business cooperation to promote, market and distribute NI HSIN's products, i.e. premium stainless steel multiply cookware, multi-ply stainless steel clad metal, stainless steel convex mirror and electric vehicles ("Products") in the territory of Turkey and the Middle East ("the Proposal").

Pursuant to the MOU, the Company and APEX have jointly agreed to commence discussion and negotiations, in good faith and in the best common interests of the Parties with a view to reach and finalise as soon as practicable the definitive agreement for formalising the intentions and mutual agreement of the Parties in relation to the Proposal.

Please refer to the attachments for the further details of the MOU.

This announcement is dated 28 August 2026.