The Board of Directors of Varia is pleased to announce that Pembinaan Teguh Maju Sdn Bhd, a wholly-owned subsidiary of Varia, has on 20 April 2026 accepted a Letter of Award from RSM Builders Sdn Bhd for a project known as "Menaik Taraf Loji PSG024 Kepada Loji Rawatan Kumbahan Serantau Dan Pembinaan Rangkaian Paip Pembetungan Serta Kerja-Kerja Rasionalisasi Di Sub Tadahan Sg. Kim Kim West, Pasir Gudang, Johor Darul Takzim (Reka dan Bina)" for sub-contract works comprising supply of labour, materials, equipment, tools, plant and machineries for the construction and completion of sewerage line and conveyance system ("Contract").

The total sum of the Contract is RM293,329,006.00 with a contract period of 55 months, from the commencement date on 24 April 2026 until the date of completion on 30 November 2030.

The Contract is expected to contribute positively to the earnings of Varia Group for the relevant financial periods within the duration of the Contract. The Contract will not have any effect on the share capital and shareholding structure of Varia.

The risk factors affecting the Contract includes changes in economic, political and regulatory environment and general operational risks. The Group will take appropriate measures to mitigate such risks.

None of the directors and/or major shareholders of the Company and/or persons connected with them has any interest, whether direct or indirect in the Contract.

This announcement is dated 20 April 2026.