VCI Global (NASDAQ: VCIG) Initiates Rescission and Cancellation of Acquisition from QuantGold Transaction

VCI Global Limited (NASDAQ: VCIG) (“VCI Global” or the “Company”), announced the rescission of its previously announced acquisition of 20% equity stake in QuantGold Data Group Limited (“QuantGold”), resulting in the cancellation of associated shares and a more efficient capital base.

Following an internal and strategic review, VCI Global’s board determined that the proposed acquisition would not deliver optimal value for shareholders. The Company has therefore initiated formal proceedings to rescind the transaction and cancel all sharespreviously allocated for this acquisition, resulting in a reduction in outstanding share count and enhanced earnings per share potential.

Key Transaction Clarifications

SES Acquisition and Patent Portfolio: As part of the original framework, QuantGold had contemplated the acquisition of SecureEncryption Storage Limited (“SES”) together with the relevant intellectual properties for HKD 10 million. However, upon VCIGlobal’s review, it was

determined that SES does not possess the previously referenced portfolio of 129 patents, which represented a fundamental component of the transaction structure. Consequently, the SES acquisition never materialized, and these findings were significant considerations in the Company’s decision to rescind the QuantGold acquisition.

Intellectual Property Position: Any prior references to proprietary technologies associated with QuantGold in previous Company communications are hereby clarified: no intellectual property has been transferred or assigned to VCI Global or QuantGold. This preserves the Company’s flexibility to pursue more strategic technology partnerships.

With these matters resolved, VCI Global is well-positioned to advance its cybersecurity business through its V Gallant distributorshipwith SES and other technology partners. This streamlined approach enables faster market penetration while maintaining strategic flexibility to partner with leading technology providers.