Reference is made to the Company's announcements dated 3 August 2026, 19 August 2026, 24 August 2026, 26 August 2026 and 1 September 2026 in relation to the application for Judicial Management Order ("JM Application") and appointment of Interim Judicial Managers ("IJM") ("Announcements"). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

The Board of Directors of PRG wishes to announce that the High Court of Malaya at Kuala Lumpur ("Court"), pursuant to a sealed order dated 26 August 2026 ("Sealed Order"), has order that the Company be placed under interim judicial management and has appointed Mr. Andrew Heng and Mr. Ashvin Mahendran of Baker Tilly Insolvency PLT as the IJM of PRG.

1. The terms, date of commencement and duration of the interim judicial management order.

The Sealed Order shall remain until the disposal of the JM Application filed on 3 August 2026, of which the hearing has been fixed on 21 September 2026. 

The Sealed Order also contained specific protective directions as follows -

(a) The IJM shall not compromise, settle, discontinue or dispose the winding-up petition between Premier Construction (International) Sdn Bhd and Premier De Muara Sdn Bhd (Winding-Up Petition No.: WA-28NCC-742-07/2026) ["the Petition 742"] without prior notice to the Court and the leave of the Court;

(b) The IJM shall report the status of the Petition 742 at the next case management; and

(c) The Company is directed to take the appropriate steps to complete the disclosure in respect of the Petition 742 and the governance matters, including the Bursa announcement and ratification by the Board of Directors, before this Order is perfected.

2. The particulars of the Interim Judicial Managers appointed and its functions and powers.

Pursuant to the Sealed Order, Mr. Andrew Heng and Mr. Ashvin Mahendran of Baker Tilly Insolvency PLT, Baker Tilly Tower, Level 10, Tower 1 Avenue 5, Bangsar South City 59200 Kuala Lumpur be appointed as the joint IJM of the Company.

The IJM shall have and may exercise all the functions and powers of a judicial manager conferred by section 414 of Companies Act 2016 ("CA 2016") and specified in the Ninth Schedule of CA 2016, pending the disposal of the application for the judicial management order filed on 03.08.2026 ("the JM Application").

3. The details of restraints or restrictions imposed on the listed issuer, its subsidiary or major associated company arising from the interim judicial management order, including whether the leave of court will be sought to disapply any such restraints or restrictions, and if leave is granted, the terms imposed by the court, if any.

With the appointment of the IJM, the powers of the Directors and Officers of the Company have ceased. Nevertheless, the Directors and Officers are still required to comply with all statutory requirements including the filing of statutory returns and all other necessary statutory compliance requirements.

4. The operational and financial impact on the group arising from the interim judicial management order and appointment of the interim judicial managers, including expected losses, if any.

The appointment of the IJM is not expected, in itself, to result in any immediate cessation of the Group's business operations. The Group's businesses will continue to be carried on, subject to the powers exercised by the IJM pursuant to the Sealed Order and CA 2016.

5. The steps taken or proposed to be taken by the listed issuer in respect of the interim judicial management order and appointment of the interim judicial managers, and the role of the board of directors in light of the appointment of the interim judicial managers.

Section 414(2) of CA 2016 provides that, during the period for which a judicial management order is in force, the powers and duties of the directors under CA 2016 or the Company's constitution shall be exercised and performed by the judicial manager and not by the directors.

Accordingly, pending the disposal of the JM Application, the IJM shall assume and exercise the functions and powers of the Directors of the Company in relation to the management and affairs of the Company to the extent provided under the Sealed Order and CA 2016.

The Board shall remain co-operative with the IJM and provide such assistance and information to the IJM as may be required for the proper discharge of their functions and powers.

This announcement is dated 3 September 2026.