The Board of Directors of Silverlake Axis Ltd. announced that the Company's indirect wholly-owned subsidiary, Silverlake Fermion Sdn. Bhd. has signed a teaming agreement with DynaFront Holdings Berhad, hereinafter referred to collectively as Parties. Under the terms of the Agreement, the Parties will establish collaboration and explore opportunities to apply technology expertise and tap on ecosystems to co-create Insurtech innovations to achieve digital insurance leadership for the Parties' mutual benefits. Pursuant to the confidentiality clause stipulated in the Agreement, no further details of the Agreement will be disclosed. None of the directors or substantial shareholders of SAL has any interest, directly or indirectly, in the above Agreement other than through their respective shareholdings in SAL.