With reference to the previous announcements dated 1 November 2018, 9 August 2018, 4 August 2014, 28 October 2013, 1 October 2013, 22 October 2012, 9 August 2012 and 6 August 2012, Sapura Industrial Berhad (“SIB”) wishes to announce that the Court of Appeal had on 22 July 2019 dismissed the appeal filed by SIB and its subsidiary i.e. Sapura-Schulz Hydroforming Sdn Bhd (“SSHSB”) with costs.

The appeal was filed by SIB and SSHSB on 23 November 2018 against the decision of the High Court rendered on 30 October 2018 where the High Court dismissed the application filed by SIB and SSHSB to set aside the Ex-parte Enforcement Order obtained by the abovenamed Respondents on 7 August 2018.

In light of the outcome of the Appeal, SIB will make arrangements for payment of its portion of the legal costs pursuant to the Arbitration Award. Since provisions have already been made for the amount payable by SIB accordingly in prior years and as disclosed under Note 26 of the audited financial statements, payment of the legal costs will not have a material adverse impact to the financial position of SIB.

This announcement is dated 23 July 2019.