Reference is made to the announcements dated 16 June 2025 and 6 October 2025 in relation to the Construction Industry Payment and Adjudication Act 2012 (“CIPAA”) proceedings initiated by its wholly-owned subsidiary, ASTEEL (Sarawak) Sdn Bhd (“ASWK”) against Dynaciate Engineering Sdn Bhd ("Dynaciate").

The Board of Directors of ASTEEL Group Berhad wishes to announce that ASWK has on 18 November 2025 received an adjudication decision dated 14 November 2025 (“Adjudication Decision”). The Adjudicator has determined the matter in favour of ASWK and awarded the following:

(a)    Dynaciate is to pay to ASWK the sum of RM966,077.04; and

(b)    Dynaciate is to pay to ASWK the sum of RM115,562.50 as costs of the Adjudication Proceedings.

ASTEEL Group Berhad will make further announcement on any further development in this matter.

This announcement is dated 18 November 2025.