The Board of Directors (“Board”) of Mah Sing wishes to announce the Company’s subsidiaries had on 19 December 2025 entered into the following agreements:

1. Nova Legend Development Sdn Bhd (“NLDSB”), a wholly-owned subsidiary of the Company, entered into a subscription and shareholders’ agreement (“SHA”) with KLK Land Sdn Bhd (“KLKL”), a wholly-owned subsidiary of Kuala Lumpur Kepong Berhad (“KLK”), where both parties have agreed to undertake development jointly in MIDSB in an agreed proportion as set out in Section 2.
   
   MIDSB is a joint-venture between Mah Sing and KLKL to undertake the Proposed Land Acquisition (as defined below) and the Proposed Industrial Development (as defined below).
    
2. M Industrial Development Sdn Bhd, a wholly-owned subsidiary of the Company (“MIDSB” or “Purchaser”) entered into a conditional sale and purchase agreement (“SPA”) with Aura Muhibah Sdn Bhd (“AMSB” or “Vendor”) for the proposed acquisition of 419.15 acres of freehold land in Mukim Senai, Daerah Kulai, Negeri Johor (“Land”) for a total purchase consideration of RM273,869,298.30 (“Purchase Consideration”) (“Proposed Land Acquisition”). 
    
3. MIDSB entered into a Project Management Agreement (“PMA”) with Southville City Sdn Bhd (“SVCSB” or “Project Manager”), a wholly-owned subsidiary of Mah Sing, to project manage the industrial development on the Land in accordance to the terms and conditions in the PMA.

The Proposed Land Acquisition, SHA and PMA are collectively referred to as the (“Proposals”).

Please refer to the attachment for further details of the Proposals.

This announcement is dated 19 December 2025.