EPACK TERMINATES JOINT VENTURE AGREEMENT WITH SOUTH KOREA'S

EPACK TERMINATES JOINT VENTURE AGREEMENT WITH SOUTH KOREA'S BUMJIN ELECTRONIC EPACKPEB • JV Termination: EPACK has mutually terminated its Joint Venture Agreement dated July 24, 2025, with South Korea-based Bumjin Electronics Co. Ltd., effective November 5, 2026. • JV Objective: The proposed venture, Bumjin India Audio Products, was established to manufacture TV speakers, soundbars, AI speakers, Bluetooth speakers and smart speakers. • Reason for Termination: Bumjin Korea did not subscribe to any shares in the Indian JV entity, and the venture did not progress as originally envisaged. • Subsidiary Status: Bumjin India Audio Products remains a wholly owned subsidiary of EPACK and has not commenced business operations. • Next Steps: EPACK will initiate the strike-off process for the subsidiary at its own cost. • Financial and Legal Position: No outstanding dues or claims exist between the parties. No technology or intellectual property belonging to Bumjin Korea was transferred or utilised. Impact: Neutral– The termination is not expected to have any material impact on EPACK's financials or operations, as the JV never commenced business activities. The subsidiary will now be taken through the strike-off process.