The Board of Directors of Varia is pleased to announce that Pembinaan Teguh Maju Sdn Bhd, a wholly-owned subsidiary of Varia, has on 25 February 2026 accepted a Letter of Award from Kemuncak Pesaka Sdn Bhd for a project known as “Menaik Taraf Lebuhraya Pasir Gudang (FT17) Dari Persimpangan Bertingkat Perling Hingga Ke Susur Turun Lebuhraya Utara Selatan, Pasir Gudang, Johor” for sub-contract works comprising supply of labour, materials, equipment, tools, plant and machineries for the construction and completion of upgrading civil and infrastructure works (“Contract”).

The total sum of the Contract is RM155,000,000.00 with a contract period of 36 months, from the commencement date on 3 December 2025 until the date of completion on 2 December 2028.

The Contract is expected to contribute positively to the earnings of Varia Group for the relevant financial periods within the duration of the Contract. The Contract will not have any effect on the share capital and shareholding structure of Varia.

The risk factors affecting the Contract includes changes in economic, political and regulatory environment and general operational risks. The Group will take appropriate measures to mitigate such risks.

None of the directors and/or major shareholders of the Company and/or persons connected with them has any interest, whether direct or indirect in the Contract.

This announcement is dated 25 February 2026.