(In this Announcement, unless stated otherwise, words and expressions used shall have the same meaning given in the Company's announcements dated 13 February 2026 and 2 April 2026 in relation to the proposed acquisition of three (3) parcels of lands.)

The Board of Directors of GDB wishes to announce that GDB Development Sdn. Bhd. ("Purchaser"), a wholly-owned subsidiary of the Company, had on 29 May 2026 issued a Notice of Termination to Sport Pavillion Sdn. Bhd. [Registration No. 200401030500 (669008-D)] ("Vendor") in relation to the termination of the proposed acquisition of Lot 19102 ("Termination").

The Purchaser and the Vendor are collectively referred to as "the Parties".

The Termination arose as the Vendor had failed to fulfil the conditions precedent stipulated in the SPA and Supplementary Agreement (collectively known as "the Agreements") in particular the requirement to obtain the written consent from the Director of Lands and Surveys for the transfer of Lot 19102, within the timeframe stipulated under the Agreements. Consequently, the Parties had mutually agreed in writing to terminate the proposed acquisition of Lot 19102. 

Pursuant to the terms of the SPA, upon the issuance of the Notice of Termination, the Vendor shall within fourteen (14) days refund to the Purchaser all monies paid under the SPA. Upon such refund, the SPA shall cease to have any further force and effect, and thereafter, neither Party shall have any further claims against the other arising from or in connection with the SPA.

This announcement is dated 29 May 2026.