• Growth underpinned by increasingly proven execution – Q1 FY7/26 results were positive with record-high quarterly sales and OP, illustrating management’s continued solid execution on multiple fronts: 1) margin enhancement by winning high-margin projects and improving the sales mix, 2) continued capacity expansion with new staff hires, and 3) bolt-on M&A activity to increase the service offering in Infrastructure & Telecommunications (such as data center construction), and growing its in-house freelance talent pool. We believe management’s core growth strategy remains consistent and well-positioned to deliver sustainable growth, with a positive demand environment, high order visibility from large system integrators, and an increasingly proven execution track record.