1. INTRODUCTION

The Company had on 21 August 2020 announced to Bursa Malaysia Securities Berhad (“Bursa Securities”) the completion of the renounceable irredeemable convertible preference shares (“ICPS”) (“Corporate Exercise”) involving allotment of 936,309,855 ICPS of the Company, which raised total gross proceeds of RM46.82 million.

The Board of Directors of the Company (“Board”) wishes to announce that the Board has resolved to extend the timeframe for the utilisation of the proceeds earmarked for the Development of the Mydin Project by an additional twelve (12) months (“Extension of Time”).

2. DETAILS OF THE EXTENSION OF TIMEFRAME FOR THE UTILISATION OF PROCEEDS

As at 27 February 2026 (being the latest practicable date prior to this announcement) (“LPD”), the Company had utilised RM30.89 million out of the total proceeds raised from the ICPS. The details of the utilisation and the Extension of Time are set out below:

3. RATIONALE

The Extension of Time is primarily due to the ongoing negotiations with contractors in relation to adopting a revised design and build model for the Development of the Mydin Project.

4. APPROVAL REQUIRED

The Extension of Time is not subject to the approval of any regulatory authorities or the shareholders of the Company.

The Board is of the opinion that the Extension of Time will not have any adverse effect on the financial performance of the Company and is in the best interest of the Company.

This announcement is made on 2 March 2026.