MSAV Holdings ^{Filed Terms, Nasdaq: MSAV}

We are a holding company incorporated in the Cayman Islands with operations conducted in Malaysia by our Operating Subsidiary, Mekar Subur AV Sdn. Bhd., which was incorporated as a company with limited liability under the laws of Malaysia in 2013. With more than 10 years of operating history, our Operating Subsidiary has substantial expertise and strong capabilities in the sale, rental, and installation of audiovisual and LED display equipment for our customers in Malaysia. We operate through three primary business activities, each providing a distinct revenue stream: 1) sales of equipment to customers, recognized upon receipt by the customer, 2) short-term event-driven rental arrangements, generally ranging from 1 day to 3 months, with revenue determined by the equipment employed and the length of the event; 3) long term semi-permanent installations at customer facilities, generally ranging from 2 – 7 years, with revenue determined on a usage-based lease calculated by the number of days and the specific configuration the equipment is used. For the years ended June 30, 2024 and 2025, we served 153 customers in each year through our short-term, event-driven rental stream and 54 and 64 customers, respectively, through our long-term, usage-based lease stream. Customers may be included in both categories if they engaged the Company under both business streams during the relevant period.