Brainhole Technology Limited (the 「Company,」 Stock Code: 2203) announced that additional time is required to finalize details related to its major transaction, involving the further acquisition of TeraWulf shares on 29 October 2025. The Company previously noted that a circular containing particulars of this acquisition was expected by 19 November 2025.

Due to the need for additional information, including updated financial data, statements of indebtedness, and the unaudited pro forma financial information under the Listing Rules, Brainhole Technology Limited applied to the Stock Exchange for a waiver from strict compliance with Rule 14.41(a). On 12 November 2025, the Stock Exchange granted the waiver on the condition that the circular be dispatched on or before 23 December 2025. The Company disclosed that the waiver applies to this case only and may be withdrawn or changed if there is any change in the Company’s situation.