INTRODUCTION

The Board of Directors of the Company wishes to announce that the Company will implement a workforce optimisation exercise.

RATIONALE FOR WORKFORCE OPTIMISATION

Due to the implementation of the new Route-to-Market distribution model starting 1 July 2026, workforce optimisation is included as part of the Company's operational efficiency initiative and intended to align the Company's workforce with future operating requirements and business direction.  

The Company will ensure the workforce optimisation is conducted in compliance with applicable labour laws and regulations.  Affected employees will receive their statutory and contractual entitlements, including retrenchment benefits, where applicable.

EFFECTS OF THE WORKFORCE OPTIMISATION

The Company expects no material impact on the Company's financial performance for the financial year ending 31 December 2026.

RISK FACTORS

There are no foreseeable significant risks beyond the usual operational risks typically associated with the normal business activities.

APPROVAL REQUIRED

The workforce optimisation complies with applicable labour laws and regulations and is not subject to the approval of the Company's shareholders.

This announcement is dated 31 March 2026.