The Board of Directors ("Board") of the Company wishes to announce that the Company has on 3 July 2025 entered into a non-binding Letter of Intent (“LOI”) with Souqa Fintech Sdn. Bhd. (“Souqa”) with the intention to enter into a negotiation in relation to the proposed acquisition of up to 30% equity interest of Souqa (“Proposed Acquisition”) by way of issuing of new issued ordinary shares of Zen Tech in multiple stages/tranches.

A formal agreement incorporating further terms and details of the Proposed Acquisition will be prepared following further negotiations between the Company and Souqa. In conjunction with this, a formal due diligence exercise will be undertaken, and the Company will appoint the necessary principal adviser, valuers, solicitors and other professional advisers. The Proposed Acquisition and the issuance of new ordinary shares of the Company will also be subject to the approval of the relevant regulatory authorities, including Bursa Malaysia Securities Berhad, and the shareholders of the Company.

The LOI does not constitute a contract nor to create any legal obligation but only to express the intention to enter into negotiations towards a formal agreement reflecting the understandings in the LOI.

Please refer to the attachment for further details.

This announcement is dated 3 July 2025.