1.0       INTRODUCTION

The Board of Directors of MISC Berhad (“MISC” or “Company”) wishes to announce that on 30 January 2026, MISC has received the Letter of Award (“LOA”) from PETRONAS LNG Ltd (“PLL”) for the long-term time charters of newbuild LNG carriers (“LNGCs”) to PLL (“Project”). The LOA sets out the salient terms and conditions forming basis for the definitive Time Charter Parties (“TCPs”) for the LNGCs. In parallel, MISC has entered into shipbuilding contracts with Hudong-Zhonghua Shipbuilding (Group) Co. Ltd. (“HZ”) for the construction of three (3) newbuild LNGCs for the Project.

2.0       DETAILS OF THE PROJECT

2.1       The Project will be for a firm charter period of twenty (20) years for each LNGC, with commencement expected in 2029. MISC will provide the LNG shipping services through its wholly owned subsidiaries.

2.2       The Project represents a strategic initiative to capitalise on PETRONAS’ anticipated LNG production growth, while supporting MISC’s LNGC rejuvenation programme through the introduction of modern, efficient vessels aimed at reducing greenhouse gas emissions and overall emission intensity.

2.3       The time charters include commercial, project execution and operational risks, inherent to the industry. MISC will take appropriate measures to mitigate through established controls, experience and operational expertise.  

2.4       The Project is not subject to the approval of the shareholders of MISC nor any governmental authorities.

3.0       INFORMATION ON THE PARTIES

3.1       PLL is a limited liability company incorporated in Labuan, Malaysia. Its principal activity is in the buying and selling of LNG, the chartering of LNG vessels and the transport and supply of LNG. PLL is a wholly owned indirect subsidiary of Petroliam Nasional Berhad (“PETRONAS”), which is also the holding company of MISC.

3.2       HZ is one of the largest shipbuilding enterprises under China State Shipbuilding Corporation Limited (“CSSC”), with profound expertise in R&D, engineering and construction of ships ranging from large LNG carriers, large/ultra-large container ships, chemical tankers, heavy-lift ships to military ships.

4.0       EFFECTS OF THE PROJECT

The Project does not have any effect on the share capital and shareholding structure of substantial shareholders of MISC and is not expected to have any material impact on the financial position of the MISC group of companies (“MISC Group”), including earnings per share, gearing, and net assets per share of the MISC Group for the financial year ending 31 December 2026.

5.0       INTERESTS OF DIRECTORS AND MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED TO THEM

Save for all the Non-Independent Non-Executive Directors and Executive Director of MISC (“Interested Directors”) as well as PETRONAS (being a major shareholder of MISC, and holding company of PLL), none of the directors and/or major shareholders of MISC and/or persons connected with the directors and/or major shareholders have any interest, direct or indirect, in the Project. Datuk Adif Zulkifli, a non-independent non-executive director, is a director of PETRONAS LNG Sdn Bhd (“PLSB”), the holding company of PLL.

6.0       DIRECTORS’ STATEMENT

The Board of Directors (save for the Interested Directors), having considered all aspects of the Project, is of the view that the Project is in the best interest of MISC, fair, reasonable and on normal commercial terms and not detrimental to the minority shareholders of MISC.

This announcement is dated 3 February 2026.