Reference is made to the Company's announcements on 28 August 2025, 22 October 2025, 20 January 2026 and 13 April 2026. Unless otherwise stated, all abbreviations used herein shall have the same meaning as those previously announced.

Based on the order dated 11 March 2026, amended pursuant to order dated 31 March 2026, it is ordered that the Adjudication Decision dated 10 October 2025 in an adjudication between the OVE and Petrofac be enforced by entry as a judgment or order of the High Court against Petrofac.

The Board of Directors of OVH ("Board") wishes to announce the following case development:

Based on the Notice of Liquidation dated on 25 May 2026, received by the Company on 8 June 2026, it is informed that Petrofac has commenced a creditors' voluntary liquidation and given notice that a meeting of the creditors of Petrofac will be held on 18 June 2026. Pursuant to that, the Company has participated in the creditors' meeting on 18 June 2026 to understand the latest position of Petrofac in relation to the outstanding sums. The creditors' meeting were concluded with appointment of Joint and Several Liquidators and election of Committee of Inspection.

Section 451(2) of the Companies Act 2016 provides that after commencement of the liquidation, no action or proceeding shall be proceeded with or commenced against the company except by leave of the Court and subject to such terms as the Court may impose.

The management of the Company ("Management") has then consulted the legal counsel and has elected to file the proof of debt where the proof of debt is submitted to the Joint and Several Interim Liquidators on 21 July 2026.

Following the commencement of Petrofac's creditors' voluntary liquidation, the Management has assessed that an impairment loss may be required on the adjudicated sum of RM5,374,247.68 in respect of the receivables due from Petrofac, subject to Board's approval. The impairment represents a non-cash accounting adjustment and does not have any immediate impact on the OVH Group's cash flow or ongoing operations.

The recognition of the impairment does not constitute a waiver or abandonment of the Company's rights against Petrofac. The Company reserves all its legal and contractual rights and will continue to pursue recovery through the appropriate legal or insolvency processes where such recovery is considered commercially viable.

The Company will make further announcements as and when there are any material developments in relation to the legal proceedings or the recovery process.

This announcement is dated 22 July 2026.