The Board of Directors ("Board") of Steel Hawk wishes to inform that, the Company has decided to change the Auditors of the Company by proposing the appointment of Messrs. TGS TW PLT ("TGSTW") as Auditors of the Company in place of the retiring Auditors, Messrs. KPMG PLT ("KPMG") for the financial year ending 31 December 2025 ("Proposed Change of Auditors") for shareholders' approval at the forthcoming Fourth Annual General Meeting ("4th AGM") of the Company.

KPMG has served as the External Auditors for Steel Hawk and its subsidiaries since 2020. The Board believes that the Proposed Change of Auditors is essential in terms of cost efficiency to the Company. By mutual consent, KPMG has agreed not to seek for re-election as the Company's External Auditor at the forthcoming 4th AGM. Pursuant to Section 273(b) of the Companies Act 1026, KPMG will remain as the Auditors of the Company until the conclusion of the 4th AGM. 

Except as noted above, the Board has confirmed that there were no matters related to KPMG's cessation of office that need to be brought to the attention of the shareholders of the Company. 

Based on the recommendation of the Board Audit and Risk Management Committee, the Board agreed to recommend the Proposed Change of Auditors to be put for shareholders' approval at the 4th AGM, after assessing TGSTW's independence, capabilities, audit team and proposed audit fees for the financial year ending 31 December 2025. 

This announcement is dated 25 April 2025.