Elitecon International Ltd — Important, 02-03-2026: Company Update

Elitecon International's manufacturing facility was inspected by the Food and Drug Administration, during which certain inventories, specifically tobacco products, and a packing machine were seized. This action relates to a Government of Maharashtra notification concerning tobacco products. The company states its other business operations continue normally, with no material impact on its overall operations or going concern status. The matter is under review, and the financial impact cannot currently be quantified. The company also explained a delay in announcing this event, attributing it to verification and legal evaluation processes.