For consistency purposes, the abbreviations used in this announcement are the same as those previously defined in the announcements dated 28 May 2021, 26 May 2023, 28 May 2024, 30 May 2024, 28 May 2025 and 7 April 2026 (Announcements) unless otherwise defined herein.

Reference is made to the Company's Announcements pertaining to the Extension of Time further Utilisation of Proceeds Raised from Rights Issue with Warrants and Variation of Utilisation of Proceeds Raised from the Rights Issue with Warrants.

The Board of Directors (Board) of JOE wishes to inform that as at 31 March 2026, the Company has yet to fully utilise the proceeds of RM67.72 million (Proceeds) raised from Rights Issue with Warrants allocated for the investment in the Glove Business.

An Extraordinary General Meeting will be held on 4 June 2026 to obtain shareholders' approval on Proposed Variation of the Utilisation of Proceeds from the Rights Issue with Warrants Exercise. 

Details of the Revised Timeframe is set out in the table below:

The Board is of the opinion that the Revised Timeframe is in the best interest of the group and will not have material adverse effect on the financial performance of the group.

The Revised Timeframe does not require the approval of any other regulatory authorities or the shareholders of JOE.

The Company shall continue to be vigilant and prudent in managing the Rights Issue with Warrants and will continue to disclose the status of the utilisation in the Company's quarterly results and annual report until it is fully utilised.

This announcement is dated 28 May 2026.