1. Introduction

The Board of Directors of Uzma Berhad (“Uzma” or “the Company”) is pleased to announce that Geospatial AI Sdn. Bhd. (“GEOAI”), a wholly owned subsidiary of the Company has on 22 May 2025 entered into a Memorandum of Understanding (“MoU”) with Infrasel Sdn. Bhd. (“INFRASEL”) for potential collaboration in slope monitoring and infrastructure risk management in Selangor using satellite-based geospatial technologies.

(GEOAI and INFRASEL, shall collectively be referred to as the “Parties”)

2. Information on INFRASEL

INFRASEL is a subsidiary of the Government of Selangor, being wholly owned by Kumpulan Semesta Sdn. Bhd. and is primarily engaged in the business of road and infrastructure maintenance and construction, among other things.

3. Salient Terms

The salient terms of the MOU are as follows: -

(a) the Parties will explore collaborative efforts in the application of satellite-based Interferometric Synthetic Aperture Radar (“InSAR”) technology for slope stability and ground deformation monitoring in Selangor;-

      a.  GEOAI shall provide slope monitoring services by utilising the InSAR technology

      b.  INFRASEL shall identify the potential sites within the State of Selangor for purposes of the work.

      c.  Both Parties to finalize the structure of the Proof of Concept (POC) and the commercial terms via a separate definitive agreement

(b) the duration of the MoU will be for one (1) year effective 22 May 2025 until 21 May 2026 with an option to extend upon mutual agreement.

4. Risk Factors

The risk factors involved in the MoU is expected to be minimal. In the event GEOAI enters into a definitive agreement with INFRASEL, the Board and the management will exercise due care in considering the associated risks and benefits.

5. Financial Effects

The MoU is not expected to have any immediate material effect on the earnings per share, net assets per share, gearing, share capital and shareholding structure of the Company for the financial year ending 30 June 2025.

6. Directors’ and Major Shareholders’ Interests

None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of Uzma has any direct or indirect interest in the MoU.

7. Directors’ Statement

The Board of Directors of the Company, after considering all the relevant factors, is of the opinion that the entering of the MoU is in the best interest of the Company.

Please refer to the attached press release for further details.

This announcement is dated 22 May 2024.