1. Introduction

HEB wishes to announce that its wholly-owned subsidiary, HSS Engineering Sdn Bhd (“HSSE”), has on 11 March 2026 entered into a Memorandum of Understanding (“MOU”) with Adani Infra (India) Limited (“Adani Infra”) to explore potential collaboration in relation to infrastructure development projects.

2. Salient terms of the MOU

The key terms of the MOU include the following:

(i) the MOU establishes a framework for cooperation between the parties, pursuant to which Adani Infra may engage HSSE to provide technical advisory, design and engineering, and project management consultancy services for infrastructure projects undertaken by the Adani Infra India Ltd and/or any other company nominated or designated by Adani Infra whether in India or overseas;

(ii) any specific engagement arising from the collaboration will be subject to separate definitive agreements to be entered into between the parties; and

(iii) the MOU shall remain valid for a period of three (3) years from the date of execution, unless extended by mutual agreement of the parties.

3. Financial Effects

The MOU is not expected to have any immediate material effect on the earnings, net assets, share capital or shareholding structure of HEB for the financial year ending 31 December 2026.

However, the MOU provides an opportunity for the HEB Group to participate in infrastructure projects undertaken by Adani Infra, and/or any other company nominated or designated by Adani Infra should the parties subsequently enter into definitive agreements for specific projects.

4. Risk Factors

The collaboration under the MOU is exploratory in nature and is subject to the identification of suitable projects by Adani Infra and the execution of definitive agreements between the parties.

Accordingly, there can be no assurance that any specific projects will materialise from the MOU.

5. Approval Required

The execution of the MOU is not subject to the approval of shareholders of HEB or any relevant authorities.

6. Directors’ and/or Major Shareholders’ Interests

None of the Directors and/or major shareholders of HEB and persons connected with them has any interest, direct or indirect, in the MOU.

7. Directors’ Statement

The Board of Directors of HEB, having considered all aspects of the MOU, is of the opinion that the MOU is in the best interest of the HEB Group as it enables the Group to explore opportunities to provide engineering and consultancy services in infrastructure projects undertaken by Adani Infra, and/or any other company nominated or designated by Adani Infra.

This announcement is dated 11 March 2026.