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FREE DETACHABLE WARRANTS IN HENGYUAN REFINING COMPANY BERHAD ("HRC" OR THE "COMPANY") ("WARRANTS") ISSUED PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF 300,000,000 NEW ORDINARY SHARES IN HRC ("HRC SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.78 PER RIGHTS SHARE TOGETHER WITH 149,999,984 WARRANTS ON THE BASIS OF ONE (1) RIGHTS SHARE FOR EVERY ONE (1) EXISTING HRC SHARE HELD AS AT 5:00 P.M. ON 2 OCTOBER 2025 AND ONE (1) WARRANT FOR EVERY TWO (2) RIGHTS SHARES SUBSCRIBED FOR
Each Warrant entitles the registered holder to subscribe for one (1) new HRC Share at the exercise price of RM1.00 at any time during the exercise period of five (5) years from and inclusive of the date of issuance of the Warrants and up to and including the expiry date of the Warrants ("Exercise Period"), subject to adjustments in accordance with the provisions of the deed poll constituting the Warrants dated 19 September 2025. Any Warrants which have not been exercised during the Exercise Period shall thereafter lapse and cease to be valid for any purpose. This Announcement is dated 29 October 2025.