Build to Minister’s Order

Summary

This report has been prepared and distributed by SAC Capital Private Limited (“SAC Capital”) which is a holder of a capital markets services licence and an exempt financial adviser in Singapore. This report is provided for general information only and is not intended to constitute investment, legal, tax or accounting advice. It has been prepared without regard to the specific investment objectives, financial situation, tax position or particular needs of any individual person or specific group. Nothing in this report constitutes a solicitation, invitation or offer to buy or sell any securities. Prospective investors should conduct their own due diligence and obtain independent advice (including from a financial adviser) as to the suitability of any investment, taking into account their personal circumstances. This report is confidential and is provided solely for the recipient’s information. 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SAC Capital’s employees or connected persons serve on the board or trustee positions of the subject company as disclosed hereunder: Name of the subject company Designation Nil Nil As at the date of this report, SAC Capital has proprietary positions or interests in the subject company as disclosed hereunder: Party Quantum of position Nil Nil 17 As at the date of this report, SAC Capital, has had business relations with the subject companies within the past 12 months, as disclosed hereunder: Lincotrade & Associates Holdings Limited Nature of Business Relation Date of Business Relation Placement Agent November 2025 Continuous Sponsorship Ongoing Relation Paid Research Ongoing Relation Soilbuild Construction Group Limited Nature of Business Relation Date of Business Relation Paid Research Ongoing Relation ISOTeam Limited Nature of Business Relation Date of Business Relation Paid Research Ongoing Relation As at the date of this report, the analysts who covered the securities in this report have proprietary positions or material interests in the subject companies covered as disclosed hereunder: Analyst name Quantum of position Nil Nil ANALYST CERTIFICATION As noted above, research analyst(s) of SAC Capital who produced this report hereby certify that (i) The views expressed in this report accurately reflect his/her personal views about the subject company; (ii) The report was produced independently by him/her; (iii) He/she does not on behalf of SAC Capital or any other person carry out other services involving any of the subject company or securities referred to in this report; and (iv) He/she has not received and will not receive any compensation or benefits related to the recommendations or views expressed in this report or to any sales, trading, dealing or corporate finance advisory services or transaction in respect of the securities in this report. He/she has not and will not receive any compensation or benefits linked to the performance of the securities of the subject company from the time of the