1. INTRODUCTION

The Board of Directors of EHB (“the Board”) wishes to announce that EXSIM Concepto Sdn. Bhd. (“ECSB”), a wholly-owned subsidiary of the Company, had on 2 March 2026 accepted the letter of award dated 27 February 2026 (“LOA”) awarded by Aqua Empire Sdn. Bhd. (“AESB” or “Employer”) for the design, supply, fabrication, construction, completion, testing and commission, maintenance and guarantee (turnkey) for water park works (“Contract Works”).

2. INFORMATION ON ECSB

ECSB was incorporated in Malaysia as a private company limited by shares having its registered address at No. D-09-02, Level 9, EXSIM Tower, Millerz Square @ Old Klang Road, Megan Legasi, No. 357, Jalan Kelang Lama, 58000 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur. 

The nature of business of ECSB is principally involved in providing specialised fit-out services for hospitality property assets.

3. INFORMATION ON AESB

AESB was incorporated in Malaysia as a private company limited by shares and having its business address at UG-01, Zone 4, Empire City No. 8, Jalan Damansara, PJU 8, 47820 Petaling Jaya, Selangor.   

The nature of business of AESB is to carry on the business of operating, managing, developing and maintaining water theme parks, amusement parks and related entertainment and recreational facilities, including the provision of ancillary services and any other activities incidental or conducive thereto.

4. DETAILS OF THE LOA

(a) The contract sum for the Contract Works is RM54,500,000.00 (Ringgit Malaysia: Fifty-Four Million Five Hundred Thousand) only (“the Contract Sum”).

(b) The date of commencement shall be on 2 March 2026 and is scheduled for completion on 1 March 2027, with a duration of twelve (12) months. 

(c) The defects liability period shall be Twelve (12) months commencing from the date of Certificate of Practical Completion of completed works or until all defects are made good whichever is the later. 

(d) ECSB shall carry out the Contract Works in accordance with the other supplementary terms and conditions set out in the LOA.

5. FINANCIAL EFFECTS 

The acceptance of the LOA by ECSB to undertake the Contract Works is expected to contribute positively to the net assets per share, earnings per share and gearing of the Company throughout the duration of the Contract Works.

6. RISK FACTORS

The Company does not foresee any exceptional risk other than the normal operational risks associated with the LOA and/or the Contract Works. Nevertheless, the Company will take the necessary steps to mitigate the risks as and when they occur.

7. APPROVAL REQUIRED

The acceptance of the LOA is not subject to the approval from the Company’s shareholders and/or any regulatory authorities.

8. DIRECTORS’ AND MAJOR SHAREHOLDERS’ AND/OR PERSONS CONNECTED WITH A DIRECTOR OR MAJOR SHAREHOLDER’S INTERESTS 

None of the Directors and/or major shareholders of EHB or persons connected with them has any interests, direct or indirect, in the LOA and/or the Contract Works.

9. STATEMENT BY THE BOARD OF DIRECTORS

The Board, after having considered all aspects of the LOA and the Contract Works, is of the opinion that the LOA and the Contract Works are within the ordinary course of business of EHB and the acceptance of the LOA is in the best interest of the Company.

This announcement is dated 2 March 2026.