The Board of Directors of Sunway is pleased to announce that the Urban Redevelopment Authority of Singapore has on 23 June 2026, awarded a parcel of land measuring approximately 11,516 square metres at River Valley Green, Singapore ("Land") for a 99-year lease term for a residential development at S$750,569,199 (equivalent to approximately RM2.4 billion) to SMCL Haven 3 Pte. Ltd. ("SMCLH3") and CSC Land Group (Singapore) Pte. Ltd ("CSC"), following a successful tender for the Land jointly submitted by the parties.

SMCLH3 and CSC will incorporate a joint venture company, in which SMCLH3 and CSC shall have equity interest in the proportion of 60:40 at a later date, to undertake the development of the Land ("Proposed Project"), subject to regulatory approvals.

SMCLH3 is an indirect wholly-owned subsidiary of Sunway.

CSC is a company incorporated in Singapore and its principal activity is real estate development.

The Proposed Project is expected to contribute positively to the earnings of Sunway Group from the financial year ending 31 December 2029 onwards.

The Proposed Project is subject to usual property development and construction related risk, including fluctuations in the raw materials prices, interest rate movements and gyrations in the property cycle. However, these risks could be mitigated by Sunway Group's and CSC's experience and track record in property development.

None of the Directors or major shareholders of Sunway or persons connected with them has any interest, whether direct or indirect, in the Proposed Project.

This announcement is dated 23 June 2026.