MYTECH GROUP BERHAD — Capital/Financing Update 2026

May 24, 2026

MYTECH GROUP BERHAD ("MYTECH" OR THE "COMPANY")

EXTENSION OF TIMEFRAME FOR THE UTILISATION OF PROCEEDS RAISED FROM THE PRIVATE PLACEMENT

1. INTRODUCTION

Reference is made to the proceeds raised from the private placement exercise of up to 22,376,700 new ordinary shares in the Company as disclosed in the Company's announcement dated 29 October 2024 ("Private Placement").

The Private Placement was deemed completed following the lapse of deadline for the Company to implement the Private Placement on 19 May 2025. Only the first tranche of 11,188,000 placement shares were placed out under the Private Placement ("Placement Shares"), whereby the Company had raised total proceeds of approximately RM3.41 million ("Private Placement Proceeds").

The Board of Directors of the Company wishes to announce that as at the date of this announcement, the Company has yet to fully utilise the proceeds raised from the private placement and had resolved to extend the timeframe for the utilisation of proceeds for an additional twelve (12) months from 2nd April 2026 to 2nd April 2027 ("the Extension").

1. DETAILS OF THE EXTENSION OF TIMEFRAME OF THE UTILISATION OF PROCEEDS

The details of the extension of timeframe for the utilisation of proceeds are set out below:

Details of Utilisation	Proposed Utilisation RM'000	Actual Utilisation [as at 31 March 2026] RM'000	Balance available for utilisation RM'000	Estimated timeframe for utilisation of proceeds from the date of listing of the Placement Shares	Revised timeframe for utilisation of proceeds from the date of listing of the Placement Shares
Capital requirement for credit financing business	3,393	-	3,393	Within 12 months (up to 2 April 2026)	Within 24 months (up to 2 April 2027)
Transaction fee in relation to the Private Placement	19	19	-	Within 1 month	Completed
Total	3,412	19	3,393

1. RATIONALE

The Board has decided to extend the timeframe of the utilisation of proceeds for the capital requirement for credit financing business up to 24 months from the date of listing of the Placement Shares due to soft market conditions and management has undertaken a prudent approach to perform credit assessments on credit financing applicants to prevent any likely bad debts in current market conditions. The Placement Shares had been listed on 3 April 2025.

The Company requires additional time up to 2 April 2027 to utilise the proceeds in the manner set out above.

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1. APPROVALS REQUIRED

The extension of time of the utilisation of proceeds is not subject to the approval of shareholders or any relevant authorities.

Nevertheless, the Board shall continue to be vigilant and prudent in managing the remaining balance of proceeds.

1. STATEMENT BY DIRECTORS

The Board of Directors of the Company, having considered all relevant factors in respect of the Private Placement, is of the opinion that the extension of timeframe for the utilisation of proceeds is in the best interest of the Company and is fair, reasonable and not detrimental to the interest of the minority shareholders of the Company.

This announcement is dated 25 May 2026.

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