The Board of Directors of PinePac (“Board”) refers to the First Announcement made on 3 September 2019 and the subsequent monthly announcements in relation to the Company being classified as an affected listed issuer pursuant to paragraph 8.03A(2) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad. 

The Company received a letter from its major shareholder, Allgrow Capital Holdings Sdn Bhd ("ACHSB") on 31 July 2025, notifying the Company of its intention to privatise PinePac via a selective capital reduction and repayment exercise pursuant to section 116 of the Companies Act 2016 (“Proposed SCR”). Please refer to the announcements dated 31 July 2025, 4 August 2025, 8 August 2025, 28 August 2025, 29 September 2025, 22 October 2025, 25 November 2025, 26 November 2025, 6 January 2026 and 14 January 2026 for further details on the Proposed SCR and Proposed Variation. Unless otherwise defined, the definitions set out in the previous announcements shall apply herein.

The Board announced that the Special Resolution and the Ordinary Resolution in respect of the Proposed SCR and Proposed Variation respectively, were approved by the Disinterested Shareholders at the EGM held on 6 January 2026.

The Company had on 8 January 2026 filed the petition to the High Court in Malaya (“High Court”) to obtain an order by the High Court confirming the reduction of the issued share capital of the Company for the Proposed SCR pursuant to section 116 of the Act to give effect to the Proposed SCR.

The Company will make the relevant announcement should there be any material development in relation to the Proposed SCR.

This announcement is dated 3 February 2026.