On behalf of the Board of Directors of ARK ("Board"), M & A Securities Sdn Bhd ("M&A Securities") wishes to announce that Karya Koperat Sdn Bhd ("KKSB"), a wholly-owned subsidiary of ARK, had on 31 March 2026 entered into a conditional sale and purchase agreement ("SPA") with Boustead Penang Shipyard Sdn Bhd ("BPSSB") for the acquisition of 3 adjoining parcels of vacant industrial land legally identified as Lot Nos. 9777, 20238, and 3222, held under Title Nos. HSD 6981, HSM 3558 and PN 649, respectively, all situated in Mukim 13, District of Timor Laut, Pulau Pinang (collectively, the "Lands"), measuring in aggregate approximately 107,058 square metres ("sq m") (1,152,362 square feet ("sq ft")), for a total cash consideration of RM28.00 million ("Purchase Consideration").

Further details of the Proposed Acquisition are set out in the attachment below.

This announcement is dated 31 March 2026.