Introduction

The Board of Directors of MCB is pleased to announce that the Company has on 28 February 2026 entered into a Reservation Agreement (“RA”) with Mitsubishi Power, Ltd. for the reservation of two (2) sets of M701JAC gas turbines and gas turbine generators (“Equipment”). The Equipment is intended for use in a new 1,400 MW gas-fired power plant development in the northern region of Peninsular Malaysia (“Project”).

Objective of the RA

The RA grants the Company the right to reserve manufacturing and delivery slots for the Equipment prior to finalising the engineering, procurement, construction and commissioning (EPCC) contract for the Project, contingent upon  the execution of a definitive supply agreement under the terms of the RA. Due to the commercially sensitive nature of the detailed commercial terms, which will be outlined in the supply agreement, the Company is not in a position to disclose those details at this stage. The reservation of the Equipment for the Project is pursuant to the right granted under a previous RA signed on 10 October 2025 for Equipment intended for deployment in another 1,400 MW combined cycle power plant project to be undertaken by the Company in the southern region.

Rationale

The execution of the RA enables the Company to secure the Equipment in advance, thereby mitigating supply chain and scheduling risks and increasing the likelihood of timely execution of the Project.

Financial impact

The execution of the RA is not expected to have any material impact on the net assets and earnings of the MCB Group for the financial year ending 31 December 2026.

Declaration of interest

None of the Directors, major shareholders of MCB, or persons connected with them has any direct or indirect, interest in the RA.

MCB will make the necessary announcement as and when there is material development to the RA.

This announcement is dated 2 March 2026.