Mr. Ross Marshall reports

MAK ACQUISITION TERMINATES PURCHASE AGREEMENT WITH UNIUNI

MAK Acquisition Corp. has delivered a notice of termination to Uni Express Inc. (UniUni) regarding the purchase agreement dated May 15, 2026, among MAK, UniUni and Jun Wei (Peter) Lu, which governed the proposed reverse takeover transaction between MAK and UniUni that was intended to constitute MAK's qualifying acquisition under Part X of the TSX Company Manual.

As previously announced on Sept. 24, 2026, MAK delivered a notice of breach to UniUni regarding UniUni's breach of its interim covenant to operate its business within specified parameters, including a defined maximum cumulative pretax loss. Under the purchase agreement, UniUni had 15 business days following receipt of the notice of breach to cure the breach, however, the breach was incurable as UniUni exceeded its maximum cumulative pretax loss. That cure period expired on Oct. 19, 2026, without the breach having been cured. As a result, MAK has exercised its right to terminate the purchase agreement and the proposed transaction will not proceed. MAK has also advised UniUni that it reserves all of its rights.

MAK remains a special purpose acquisition corporation formed under the laws of the Cayman Islands for the purpose of effecting a qualifying acquisition of one or more businesses or assets. MAK will continue its search for niche-market businesses providing critical solutions, with strong revenue retention and diversified customer bases, with a view to completing a qualifying acquisition.

Withdrawal of preliminary prospectus

In connection with the proposed transaction, MAK filed a preliminary long form non-offering prospectus dated June 10, 2026, with securities regulatory authorities in each of the provinces of Canada, except Quebec, for which a receipt was issued on June 11, 2026. As the proposed transaction will not proceed, MAK is withdrawing the preliminary prospectus and will not file a final prospectus. Investors should not rely on the preliminary prospectus or on the information concerning UniUni or the proposed transaction contained in it or in MAK's news releases dated May 15, 2026, and June 11, 2026.

About MAK Acquisition Corp.

MAK is a special-purpose acquisition corporation focused on niche-market businesses providing critical solutions, with strong revenue retention and diversified customer bases. MAK is an exempted company formed under the laws of the Cayman Islands. MAK completed its initial public offering in October, 2025, and its securities are listed on the Toronto Stock Exchange under the symbols MAK.U and MAK.WT.

We seek Safe Harbor.