Extraordinary General Meeting

REXIT BERHAD
(Company No. 200401029606 (668114-K))

(Incorporated in Malaysia)


SUMMARY OF THE KEY MATTERS DISCUSSED AT
THE Extraordinary General Meeting (“EGM”) OF THE COMPANY
Hall 1, The Bousteador,

10, Jalan PJU 7/6,

Mutiara Damansara,

47800 Petaling Jaya,

Selangor Darul Ehsan

Wednesday, 7/01/2026
9.00 AM
AGENDA OF THE EGM

Tengku Tan Sri Dato’ Haji Mohamad Rizam Bin Tengku Abdul Aziz (“Tengku Chairman”), extended a warm welcome to all present at the EGM. He then introduced the members of the Board.

QUORUM

The Company Secretary confirmed that the requisite quorum was present at the commencement of the meeting. With that, Tengku Chairman called the meeting to order.

NOTICE OF MEETING

The notice convening the meeting, having been circulated to all the shareholders within the prescribed period, was taken as read.

VOTING

Tengku Chairman informed that voting on all resolutions would be conducted by way of poll. GAP Advisory Sdn. Bhd. was appointed as Poll Administrator and Quantegic Services Sdn. Bhd. as the independent scrutineer.

Tengku Chairman then proceeded with the resolutions as set out in the Notice of meeting.

ORDINARY RESOLUTION 1
PROPOSED ESTABLISHMENT OF A LONG-TERM INCENTIVE PLAN COMPRISING AN EMPLOYEE SHARE OPTION SCHEME AND A SHARE GRANT PLAN INVOLVING UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF REXIT (EXCLUDING TREASURY SHARES, IF ANY) (“PROPOSED LTIP”)
Proposed LTIP aims to:
  1. recognise and reward Eligible Persons for their contributions, motivating performance to drive sustainable growth and profitability;
  2. retain, motivate and reward Eligible Persons by enabling participation in the Group's profitability and potential capital gains;
  3. align the interests of Eligible Persons with shareholders through achievement of the Group's objectives;
  4. attract prospective talent by offering competitive compensation packages; and
  5. foster loyalty and a sense of belonging to the Group by allowing equity participation, incentivising active contribution to the Group’s growth and success.
The Proposed LTIP also extended to Non-Executive Directors in recognition of their contributions to the Group.
ORDINARY RESOLUTIONS 2 TO 8
PROPOSED ALLOCATION OF LTIP AWARDS TO THE ELIGIBLE DIRECTORS, CHIEF EXECUTIVE OF REXIT AND PERSON CONNECTED TO THEM UNDER PROPOSED LTIP (“PROPOSED ALLOCATION”):-
Resolution 2 is in relation to the Proposed Allocation of LTIP Awards to myself, Tengku Tan Sri Dato' Haji Mohamad Rizam Bin Tengku Abdul Aziz.
Resolution 3 is in relation to the Proposed Allocation of LTIP Awards to Mr. Chua Oou Chuan.
Resolution 4 is in relation to the Proposed Allocation of LTIP Awards to Mr. Wong Tack Heng.
Resolution 5 is in relation to the Proposed Allocation of LTIP Awards to Madam Amarjeet Kaur A/P Ranjit Singh.
Resolution 6 is in relation to the Proposed Allocation of LTIP Awards to Ms. Seow Jing Hui
Resolution 7 is in relation to the Proposed Allocation of LTIP Awards to Mr. Teoh Wei Yee.
Resolution 8 is in relation to the Proposed Allocation of LTIP Awards to Mr. Lee Choon Teng, our Chief Executive Officer.

The Chairman further informed that, in view of their eligibility, the interested Directors would abstain from deliberating, expressing any opinion, making recommendations, and voting on any resolutions relating to their own allocations or those of their connected persons.

SPECIAL RESOLUTION 1
PROPOSED CHANGE OF NAME OF THE COMPANY FROM “REXIT BERHAD” TO “OPENMOVE AI BERHAD” (“PROPOSED CHANGE OF COMPANY’S NAME”)

The Chairman informed that the Company is seeking approval to change its name from “Rexit Berhad” to “OpenMove AI Berhad”, in line with the Company’s rebranding strategy. If approved, the proposed change shall take effect upon the issuance of the Notice of Registration of New Name by the Companies Commission of Malaysia.

The Chairman further noted that, in conjunction with the proposed change of the Company’s name, the Constitution of the Company will be amended accordingly to reflect the new name.

The Chairman, on behalf of the Board, stated that having considered all aspects of the proposals, the Directors are of the opinion that the proposals are in the best interest of the Company and accordingly recommend that shareholders vote in favour of all the resolutions.

The Chairman declared that the business of the meeting had been concluded. The Company Secretary confirmed that no notice for any other business had been received.

QUESTION & ANSWER SESSION

Tengku Chairman invited questions from the floor. In summary, the questions raised by the Shareholders/proxies and responses provided as follows:

  • Mr. Lim Jit Thin, a shareholder, enquired on the proposed allotment of shares to the Directors and sought clarification as to why the quantum of shares to be allotted was not specified in the Circular, as the amount was not indicated therein.
  • In response to Mr. Lim Jit Thin’s query, Mr. Steven explained that the proposed LTIP Scheme at this stage is intended to establish the framework and to form a working committee to deliberate on the detailed implementation. The working committee will comprise representatives from different levels of management. Accordingly, the quantum of shares has not been determined at this juncture.

There being no other questions from the shareholders/ proxies, Tengku Chairman declared the closure of the Question & Answer Session.

Thereafter, Tengku Chairman continued and read out the eight (8) Ordinary Resolutions and one (1) Special Resolution to the Meeting for the consideration and approval.

VOTING

The representative of GAP Advisory Sdn. Bhd., the Poll Administrator, briefed the meeting on the polling procedures and thereafter handed the meeting back to the Chairman. The meeting proceeded to the polling process and was adjourned at 9.22 a.m. for the independent scrutineer to verify the results.

POLL RESULTS

The meeting resumed at 9.34 a.m.

Tengku Chairman announced the results of the poll as follows:-

Based on the above results, Tengku Chairman declared that all eight (8) Ordinary Resolutions and one (1) Special Resolution were CARRIED and it was RESOLVED:-

“That the Proposed establishment of a long-term incentive plan comprising an employee share option scheme (“Proposed ESOS”) and a share grant plan involving up to 10% of the total number of issued shares of Rexit (excluding treasury shares, if any) (“proposed LTIP”), be re-elected as Director of the Company be hereby approved.”

“That the Proposed Allocation of LTIP Awards to Tengku Tan Sri Dato' Haji Mohamad Rizam Bin Tengku Abdul Aziz, Independent Non-Executive Chairman be hereby approved.”

“That the Proposed Allocation of LTIP Awards to Chua Oou Chuan, Non-Independent Non-Executive Director/ Deputy Chairman be hereby approved.”

“That the Proposed Allocation of LTIP Awards to Wong Tack Heng, Executive Director be hereby approved.”

“That the Proposed Allocation of LTIP Awards to Amarjeet Kaur A/P Ranjit Singh, Independent Non-Executive Director be hereby approved.”

“That the Proposed Allocation of LTIP Awards to Seow Jing Hui, Independent Non-Executive Director be hereby approved.”

“That the Proposed Allocation of LTIP Awards to Teoh Wei Yee, Independent Non-Executive Director be hereby approved.”

“That the Proposed Allocation of LTIP Awards to Lee Choon Teng, Chief Executive Officer be hereby approved.”

“That the Proposed Change of Name of the Company from “Rexit Berhad” to “OpenMove AI Berhad” (“Proposed Change of Company’s Name”) be hereby approved.”

CLOSURE OF MEETING

There being no other business, the meeting ended at 9.45 a.m. with a vote of thanks to the Tengku Chairman.