Reference is made to the Company’s announcements dated 4 August 2022 and 8 August 2022 pertaining to the press release entitled "Metronic expects RM100m turnover from e-Commerce division in next 5 years".

With reference to the announcement dated 8 August 2022, the Board of Directors of Metronic wishes to clarify on the following:-

(a) Under item (3), “We are of the opinion that the venture is not tantamount to diversification in operations Group’s net asset in pursuant to Paragraph 10.13 of the Main Market Listing Requirements but only diversification into the new business channel. Furthermore, the amount of investment is less than 35%. ” should be read as “We are of the opinion that the venture is not tantamount to diversification in operations Group’s net asset in pursuant to Paragraph 10.13 of the Main Market Listing Requirements but only diversification into the new business channel, as the amount of investment is less than 25%.”.

(b) Under item (5), “The RM 100 million Gross Merchandise Value is arrived based on an average of 4,450 merchandised items with an average price of RM2,000 per unit transacted per year.  However, for the first year it is only estimated a total of 1,500 merchandized and it subsequently grows at Compounded Annual Growth Rate (CAGR) of 77%.” should be read as “The RM 100 million Gross Merchandise Value is arrived based on an average of 10,200 merchandised items with an average price of RM2,000 per unit transacted per year.  However, for the first year it is only estimated a total of 1,500 merchandized and it subsequently grows at Compounded Annual Growth Rate (CAGR) of 77%.”.

This announcement is dated 11 August 2022.