Multi Ways Holdings Announces Sale of Twenty-Three SANY Cranes Totaling Over US$6.6 Million

Multi Ways Holdings Limited (“Multi Ways” or the “Company”) (NYSE American: MWG), a leading supplier of a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region, today announced the the sale of 23 SANY cranes in the year ending December 31, 2024, generating revenue of SGD 8.9 million (US$6.6 million). The deal builds on Multi Ways' partnership with SANY, the Chinese engineering giant and world's third-largest machinery manufacturer.

"This deal showcases our ability to deliver exactly what our clients need," said Mr. James Lim, Chairman and Chief Executive Officer of Multi Ways. "We're seeing strong demand for premium construction equipment, and our relationship with SANY helps us meet that demand head-on."

The sale represents a significant portion of Multi Ways' equipment transactions for 2024 and demonstrates the Company's ongoing strategy to maintain a modern, high-performance fleet. By working closely with SANY, Multi Ways can offer its clients access to some of the most advanced construction machinery available. Multi Ways has made it a priority to actively refresh its equipment lineup to stay competitive in the rapidly evolving construction sector.

About Multi Ways Holdings Limited

Multi Ways Holdings supplies a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region. With more than two decades of experience in the sales and rental of heavy construction equipment business, the Company is widely established as a reliable supplier of new and used heavy construction equipment to customers from Singapore, Australia, UAE, Maldives, Indonesia, and the Philippines. With our wide variety of heavy construction equipment in our inventory and complementary equipment refurbishment and cleaning services, Multi Ways is well-positioned to serve customers as a one-stop shop. For more information, visit www.multiwaysholdings.com.

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Investor Relations Contact:        Matthew Abenante, IRCPresident                                        Strategic Investor Relations, LLC                                         Tel: [phone]Email: [e-mail]