(Unless otherwise defined, the definitions and terms set out in the announcements dated 19 January 2026 and 20 January 2026 shall apply herein)

The Board of Directors of the Company wishes to announce that a 60% subsidiary, Wellhead Master (M) Sdn. Bhd. [Registration No. 202601018517 (1680614-K)] ("WMSB") was incorporated on 6 May 2026.

It is a joint venture with INTLEF with an issued and paid-up share capital of RM1,000.00 comprising 1,000 ordinary shares, representing 100% of the issued and paid-up share capital in the capital of WMSB.

The equity participation in the capital of WMSB are as follows: -

The primary objective of the WMSB is to establish a plant in Malaysia for manufacturing, assemble include testing and maintenance of oilfield equipment (BOPs and wellhead control) for any identified contracts within Malaysia and Indonesia or any other region (hereinafter referred to as "Project").

The incorporation of WMSB does not have any effect on the issued and paid-up share capital and substantial shareholders' shareholdings structure of the Company as well as the earnings and net assets of the Company and its Group of Companies for the financial year ending 30 June 2026.

None of the Directors and/or major shareholders and/or persons connected with them have any interest, direct or indirect, in the aforesaid incorporation.

Having considered all aspects of the incorporation, the Board of Directors of the Company is of the opinion that the incorporation is in the best interest of the Company.

This announcement is dated 7 May 2026.