On behalf of the Board of Directors of Straits ("Board"), UOB Kay Hian (M) Sdn Bhd ("UOBKH") is pleased to announce that Straits proposes to undertake the following:-

(i)         the proposed diversification of the existing principal activities of Straits and its subsidiaries ("Straits Group" or the "Group") to include engineering, procurement, construction and commissioning ("EPCC") services ("Proposed Diversification"); and

(ii)         the proposed shareholders' mandate for the disposal of 7,369,588 ordinary shares in CBL International Limited ("CBLIL") ("CBLIL Share(s)"), representing 26.80% equity interest in CBLIL via the open market of the National Association of Securities Dealers Automated Quotations ("NASDAQ") stock exchange over the next 12 months, whether in a single tranche or multiple tranches, depending on market conditions ("Proposed Disposal Mandate"). The disposal consideration is subject to market fluctuations and will be based on the prevailing market price at the point of disposal.

(The Proposed Diversification and Proposed Disposal Mandate are collectively referred to as the "Proposals").

Further details of the Proposals are set out in the attachment.

This announcement is dated 17 August 2026.