Reference is made to the Company’s announcement dated 30 May 2025 in relation to the extension of time application for the proposed regularisation plan.

On behalf of the Board of Directors of Lambo, M & A Securities wishes to announce that Bursa Securities had vide its letter dated 15 July 2025 informed that after due consideration of all facts and circumstances of the matter, in particular the following:

(1) Messrs. ChengCo PLT had resigned as the Company's auditor and reporting accountant for the Company's proposed regularisation plan on 29 May 2025 due to the uncertainty of the firm's registration status with the Audit Oversight Board of the Securities Commission Malaysia (where the auditors were subsequently suspended on 12 June 2025) and the Company had on 30 June 2025 issued a notice of intention to SBY Partners PLT to nominate them as the external auditors of the Company.

(2) The representations by M&A Securities on the following:

(a) the Company's proposed regularisation plan, which comprised of a share capital reduction and a variation of the utilisation of proceeds of approximately RM30 million to procurement of inventory ("Proposed Variation") would comply with paragraphs 5.2 and 5.3 of GN3 and is expected to strengthen the financial position of Lambo;

(b) additional time is required to submit the proposed regularisation plan as –

(i) the Proposed Variation involved the variation of unutilised proceeds to procurement of inventory where Lambo had to carefully assess the global developments to ensure that it is commercially viable and aligned with the Group's operational capabilities; and

(ii) the new external auditors and reporting accountant need to familiarise/understand the Group's historical financial statements and prepare and finalise the pro forma figures for purposes of inclusion in the Requisite Announcement (which is expected to be made by September 2025) and submission of the proposed regularisation plan; and

(3) The financial position including M&A Securities' representation that the Company no longer triggered any prescribed criteria under GN3 and Rule 8.03A(2)(b) of the ACE Market Listing Requirements of Bursa Securities (“ACE LR”) based on the latest audited financial statements for the financial year ended 30 September 2024 and unaudited quarterly report for the financial period ended 31 March 2025.

Bursa Securities has decided to allow the further appeal and grant Lambo a further extension of time of until 1 December 2025 to submit its regularisation plan to the relevant authorities for approval (“Extended Timeframe”).

Bursa Securities has further decided to de-list the securities of Lambo from the Official List of Bursa Securities pursuant to Rule 8.04 of the ACE LR in the event:

(i) the Company fails to submit the regularisation plan to the relevant authorities for approval within the Extended Timeframe i.e. on or before 1 December 2025;

(ii) the Company fails to obtain the approval for the implementation of its regularisation plan and does not appeal within the timeframe (or extended timeframe, as the case may be) prescribed to lodge an appeal;

(iii) the Company does not succeed in its appeal; or

(iv) the Company fails to implement its regularisation plan within the timeframe or extended timeframes stipulated by the relevant authorities.

Upon occurrence of any of the events set out in (i) to (iv) above, the securities of the Company shall be removed from the Official List of Bursa Securities upon the expiry of two (2) market days from the date the Company is notified by Bursa Securities or on such other date as may be specified by Bursa Securities.

This announcement is dated 15 July 2025.