The Board of Directors of AMTEL wishes to announce that the Company proposes to seek approval from the shareholders for the Proposed Renewal of Authority for Share Buy-Back at the forthcoming Twenty-Seventh Annual General Meeting (''AGM") of the Company.

The Company had at the AGM held on 24 May 2023 obtained shareholders' approval for the proposed renewal of authority for share buy-back of up to 10% of the total number of issued shares of the Company.

The existing authority for share buy-back is subject to annual renewal and shall lapse at the conclusion of the Company's forthcoming AGM unless renewal is obtained.

The Statement to Shareholders which set out the details of the Proposed Renewal of Authority for Share Buy-Back will be issued to the shareholders of the Company in due course.

This announcement is dated 4 March 2024.