The Board of Directors of PinePac ("Board") refers to the First Announcement made on 3 September 2019 and the subsequent monthly announcements in relation to the Company being classified as an affected listed issuer pursuant to paragraph 8.03A(2) of the Main Market Listing Requirements ("MMLR") of Bursa Malaysia Securities Berhad ("Bursa Securities"). 

The Company received a letter from its major shareholder, Allgrow Capital Holdings Sdn Bhd ("ACHSB") on 31 July 2025, notifying the Company of its intention to privatise PinePac via a selective capital reduction and repayment exercise pursuant to section 116 of the Companies Act 2016 ("SCR"). Please refer to the announcements dated 31 July 2025, 4 August 2025, 8 August 2025, 28 August 2025, 29 September 2025, 22 October 2025, 25 November 2025, 26 November 2025, 6 January 2026 and 14 January 2026, 12 March 2026, 16 March 2026 and 17 March 2026 for further details on the SCR and Variation. 

Unless otherwise defined, the definitions set out in the previous announcements shall apply herein.

On 12 March 2026, the High Court had granted a High Court Order to the Company confirming the reduction of issued share capital of the Company for the SCR pursuant to section 116 of the Act.

The Company had on 27 March 2026 applied to Bursa Securities to seek approval for the deferment of the suspension and de-listing of the securities of the Company under paragraph 8.03A of the MMLR of Bursa Securities from 6 April 2026 to 30 April 2026 in order for the Company to complete the SCR. The said application is pending a decision from Bursa Securities. Further announcement will be made upon receiving the decision from Bursa Securities.

On 31 March 2026, the trading of PinePac Shares on the Main Market of Bursa Securities was suspended to facilitate the implementation of the SCR. For the avoidance of doubt, the trading of PinePac Shares will continue to be suspended until the de-listing of PinePac from the Official List of Bursa Securities following the completion of the SCR.

This announcement is dated 1 April 2026.