Reference is made to Progressive Impact Corporation Berhad's ("PICORP's" or "the Company's") announcements dated 19 September 2024, 26 November 2024, 25 February 2025, 13 May 2025, 26 August 2025, 25 November 2025 and 24 February 2026 in relation to the Memorandum of Understanding ("MOU") between PT Surabaya Industrial Estate Rungkut ("PT SIER") and the Company's subsidiary, PT ALS Indonesia ("ALS Indonesia") ("the Announcements").

Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

The Board of Directors of PICORP wishes to announce that there is no material development pertaining to the MOU entered into between PT SIER and ALS Indonesia.

This announcement is dated 25 May 2026.