Reference is made to the Company’s announcement dated 16 June 2025, 6 October 2025, 18 November 2025, 2 December 2025 and 9 December 2025 in relation to the Construction Industry Payment and Adjudication Act 2012 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 19 December 2025 received an adjudication decision dated 19 December 2025. The Adjudicator has determined the matter in favour of ASWK and awarded the following:

(a) Dynaciate is to pay to ASWK the sum of RM395,078.14;

(b) Dynaciate is to pay to ASWK interest on the sum of RM395,078.14 at the rate of 5% per annum commencing 14 days after 19 December 2025 until full and final payment of the adjudicated amount;

(c) Dynaciate is to pay to ASWK the sum of RM37,970.52 as costs of the Adjudication Proceedings; and

(d) Dynaciate is to pay the above sums to ASWK within 14 days from 19 December 2025.

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

This announcement is dated 19 December 2025.