The Company wishes to announce that it had on 15 May 2026 received a letter of offer from Perbadanan Aset Keretapi ("RAC") for the proposed sale and development of two (2) parcels of lands measuring approximately 17.4 acres located in Daerah Petaling, Mukim Pekan Country Height, Selangor Darul Ehsan ("Lands") ("Proposed Development"), following the request for proposal ("RFP") in relation to the potential development of the Lands proposed by the Company ("Letter of Offer").

The Proposed Development will be subject to the following terms and conditions which will be detailed out further in a formal agreement ("Agreement") to be signed within thirty (30) days from the acceptance of the Letter of Offer:-

(i) The offered purchase price for the Lands shall be RM197,900,000.00 only.

(ii) The Company will be subject to the following approvals being obtained within six (6) months from the Agreement date:-

a) The approval from the shareholders of the Company in an Extraordinary General Meeting to be convened;

b) The approval from the Ministry of Economy including to fulfil any condition(s) imposed; and

c) The approval from any other governmental or statutory bodies or local council which is required to complete the transaction (where necessary).

(iii) The final terms and conditions shall be embodied in the Agreement to be executed between the parties.

(iv) RAC has the right to terminate or cancel this Letter of Offer in the event of, among others, the following:

a) Any misrepresentation or disclosure of partial or incomplete information or inaccurate or non-disclosure of material information by our Company which is relevant to the Proposed Development when dealing with RAC during the RFP exercise;

b) The Agreement is not signed within thirty (30) days from the acceptance of the Letter of Offer; and

c) All other terms and conditions as set out in the Letter of Offer.

(v) RAC shall not be responsible for any losses incurred or any potential future losses and the Company does not have the right to claim for any compensation, cost, repayment or any form of recoupment from RAC in the event the Letter of Offer is terminated or cancelled.

Further announcements including details of the Proposed Development will be made to Bursa Malaysia Securities Berhad in due course once the Agreement has been signed or when there are material updates on the Proposed Development.

This announcement is dated 15 May 2026.