INTRODUCTION

Reference is made to the announcement made by Marine & General Berhad ("M&G" or "the Company") dated 7 May 2025 relating to a wholly owned subsidiary of M&G namely, M&G Marine Services Sdn. Bhd. (“MGMS”), entering into a Joint Venture Agreement (“JVA”) with WHS Global Engineering Sdn. Bhd. (“WHS”). In line with the JVA, both parties agreed to incorporate a joint venture company namely, M&G WHS Engineering Sdn Bhd ("M&G WHS" or “JV Company”), to jointly undertake engineering contracts comprising of steel fabrication and hook-up works, and provision of specialized equipment.

The Board of Directors ("Board") of M&G is pleased to announce that the setting up of the JV Company has been completed on 15 May 2025.

INFORMATION ON THE JV COMPANY

The JV Company, namely M&G WHS, has an initial paid-up share capital of Ringgit Malaysia Two (RM2.00) only. The JV Company will increase its paid-up share capital to Ringgit Malaysia One Hundred Thousand (RM100,000.00) only divided into One Hundred Thousand (100,000) ordinary shares of Ringgit Malaysia One (RM1.00) only each in due course. The issued and paid-up share capital of the JV Company will be jointly held by the parties hereto in the following manner:

The Board of M&G WHS consists of three (3) directors, as follows:

1. Two (2) representatives nominated by MGMS, namely Rozhan Anwar bin Abdul Halim and Mohd Noor Ismardi bin Idris; and
2. One (1) representative nominated by WHS, namely Wan Mohd Zamri bin Wan Hassan.

This announcement is dated 15 May 2025.