The Board of Directors of Pacific & Orient Berhad is pleased to announce that its wholly-owned subsidiary, P&O Global Technologies Inc. ("POGTINC"), has entered into a Project Management Agreement (“Agreement”) with Ms. Vivian Z. Dimond (“Vivian”), a citizen of the United States of America, and BGC Metro LLC, an affiliate company of Vivian (“Bayshore”), on 30 August 2024.

Whereby under the Agreement, Vivian will be appointed as the Manager in carrying the project management of the Group’s property development project located at 7918 West Drive, North Bay Village, Florida (“Project”), which is owned by POGTINC’s wholly-owned subsidiary, Pacific & Orient Properties LLC ("POPLLC"), comprising approximately 54 residences with related amenities.

As part of the Agreement, and where required by Bayshore for the purpose of securing the performance by POGTINC of its obligations under the Agreement, POGTINC will cause POPLLC to issue additional limited liability company interests to Bayshore and Vivian as a form of performance security in accordance with the terms of the Agreement to ensure the successful execution and completion of the Project.

This announcement is dated 30 August 2024.