Reference is made to the announcements dated 16 June 2025, 6 October 2025 and 18 November 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 2 December 2025 received an adjudication decision dated 28 November 2025 (“Adjudication Decision”). The Adjudicator has determined the following:

(a)    ASWK’s Adjudication Claim is dismissed; and

(b)    ASWK is to pay to Dynaciate the sum of RM11,500.87 as costs of the Adjudication Proceedings within 30 days from 28 November 2025.

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

This announcement is dated 2 December 2025.