The Board of Directors of Varia wishes to announce that the Company has on 8 October 2025 lodged the required information and relevant documents in relation to the Sukuk Murabahah Programme with the Securities Commission Malaysia (“SC”) pursuant to the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework issued by the SC on 9 March 2015, effective on 15 June 2015 and revised on 5 February 2024 (as amended from time to time).

The Sukuk Murabahah Programme entails multiple issuances of rated and/or unrated IMTN. The Sukuk Murabahah Programme shall have a perpetual tenure and the IMTNs issued thereunder shall have a tenure of at least 1 year and up to 30 years.

The proceeds from issuance of the Sukuk Murabahah shall be utilised by the Company for the following Shariah-compliant purposes:-

(a) To finance the capital expenditure of Varia’s group of companies (“Varia Group”);

(b) To refinance all or part of any existing Shariah-compliant and/or existing outstanding conventional indebtedness incurred or future Shariah-compliant indebtedness to be undertaken by Varia Group;

(c) To finance Varia’s working capital and other general corporate purposes;

(d) To finance Varia Group’s projects, investments and asset development, replacement and/or acquisitions that are being undertaken and/or to be undertaken in the future;

(e) To fund the fees, costs, expenses and all other amounts payable under or in relation to the Sukuk Murabahah; and

(f) To fund any minimum required balance in any designated account, if applicable.

Bank Islam Malaysia Berhad is the Principal Adviser, Lead Arranger, Lead Manager, Facility Agent and Shariah Adviser for the Sukuk Murabahah Programme.

This announcement is dated 8 October 2025.