We refer to the announcements dated 9 February 2021, 19 March 2021, 1 July 2021, 6 July 2021, 13 August 2021, 20 August 2021 and 7 February 2025 in relation to the Rights Issue with Warrants and also announcements in relation to the updates of the utilisation of proceeds in the quarterly results dated 30 August 2023,
29 November 2023, 28 February 2024, 31 May 2024, 30 August 2024, 29 November 2024, 24 February 2025, 30 May 2025 and 29 August 2025 (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

The Company had on 20 August 2021 announced to Bursa Malaysia Securities Berhad (“Bursa Securities”) on the completion of the Rights Issue with Warrants that the Company raised a total proceed of RM72,121,000.

On 7 February 2025, the Board of Directors of AEM (the “Board”) has approved to vary the utilisation of the proceeds raised from the Rights Issue with Warrants of RM10,000,000 to AE Multi Industries Sdn. Bhd. as working capital to support Engineering, Procurement, Construction, and Commissioning (“EPCC”) projects, as well as procurement activities, including the sourcing of raw materials for construction, construction tools and equipment, and machinery and equipment (“First Variation”):

As announced on 29 August 2025 for the quarterly report for the financial period ended 30 June 2025, the Board decided to extend the timeline by another 6 months from 20 August 2025 to consider for the remaining utilisation of proceeds.

As at 31 December 2024, AEM has utilised RM53,870,000 from the total proceeds raised from the Rights Issue with Warrants. On 10 September 2025, the Board has approved to vary the proposed utilisation of the proceeds raised from the Rights Issue with Warrants in the manner as set out in the attached announcement.

Please refer to the attached for further details.

This announcement is dated 10 September 2025.