We wish to announce that QL-C14 had expired at 9.00 a.m. on 24 August 2026 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of QL-C14 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of QL-C14 exercised x (1/5) x (RM3.9762 - RM4.8800) 
= Number of QL-C14 exercised x RM0.0000 

The Closing Price of RM3.9762 is the average daily volume weighted average price (VWAP) of the ordinary shares of QL on Bursa Malaysia Securities Berhad for the five (5) market days prior to and including the market day immediately before the Expiry Date. The QL-C14 is deemed to have been automatically exercised on the Expiry Date.

As the Cash Settlement Amount is less than Zero, warrantholders will not be entitled to receive any payment from us and all outstanding and unexercised QL-C14 will cease to be valid and all our obligations in respect to QL-C14 shall terminate absolutely.

This announcement is dated 24 August 2026.