1. INTRODUCTION

The Board of Directors of EHB (“the Board”) wishes to announce that EXSIM Concepto Sdn. Bhd. (“ECSB”), a wholly-owned subsidiary of the Company, had on 13 March 2026 accepted the letter of award dated 10 March 2026 (“LOA”) awarded by Binastra Builders Sdn. Bhd. (“BBSB”) for the supply and installation of building services and general building works (“Sub-Contract Works”).

2. INFORMATION ON ECSB

ECSB was incorporated in Malaysia as a private company limited by shares having its registered address at No. D-09-02, Level 9, EXSIM Tower, Millerz Square @ Old Klang Road, Megan Legasi, No. 357, Jalan Kelang Lama, 58000 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur.

The nature of business of ECSB is principally involved in providing specialised fit-out services for hospitality property assets.

3. INFORMATION ON BBSB

BBSB was incorporated in Malaysia as a private company limited by shares and having its business address at No. 1 & 3, Jalan Jalil Jaya 3, Jalil Link, Bukit Jalil, 57000 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur.  

The nature of business of BBSB is General Contractor and Property Developer.

4. DETAILS OF THE LOA

(a) The contract sum for the Sub-Contract Works is RM73,655,700.00 (Ringgit Malaysia: Seventy-Three Million Six Hundred Fifty- Five Thousand and Seven Hundred) only (“Sub-Contract Sum”).

(b) The Main Contract commenced on 29 April 2025 and is scheduled for completion on 28 September 2028, with a duration of forty-one (41) months. ECSB shall carry out the Sub-Contract Works in accordance with the Master Work Programme prepared by BBSB.

(c) The defects liability period shall be Twenty-Seven (27) months commencing from the date of Certificate of Practical Completion of completed works or until all defects are made good whichever is the later. 

(d) This agreement shall only be effective upon obtaining approval of EXSIM Hospitality Berhad’s shareholders in relation to the Proposed Diversification into General Contracting (“Proposed Diversification”) at the Extraordinary General Meeting.

(e) ECSB shall carry out the Sub-Contract Works in accordance with the other supplementary terms and conditions set out in the LOA.

5. FINANCIAL EFFECTS 

The acceptance of the LOA by ECSB to undertake the Sub-Contract Works is expected to contribute positively to the net assets per share, earnings per share and gearing of the Company throughout the duration of the Sub-Contract Works.

6. RISK FACTORS

The Company does not foresee any exceptional risk other than the normal operational risks associated with the LOA and/or the Sub-Contract Works. Nevertheless, the Company will take the necessary steps to mitigate the risks as and when they occur.

7. APPROVAL REQUIRED

The acceptance of the LOA is not subject to the approval of the Company’s shareholders and/or any regulatory authorities. Nevertheless, the implementation of the Sub-Contract Works is subject to the approval of the shareholders of the Company for the Proposed Diversification at the forthcoming Extraordinary General Meeting.

8. DIRECTORS’ AND MAJOR SHAREHOLDERS’ AND/OR PERSONS CONNECTED WITH A DIRECTOR OR MAJOR SHAREHOLDER’S INTERESTS 

None of the Directors and/or major shareholders of EHB or persons connected with them has any interests, direct or indirect, in the LOA and/or the Sub-Contract Works.

9. STATEMENT BY THE BOARD OF DIRECTORS

The Board, having considered all aspects of the LOA, is of the opinion that the acceptance of the LOA is in the best interest of the Company.

This announcement is dated 13 March 2026.