The Board of Directors of Marine & General Berhad (“M&G”) would like to announce that Jasa Merin (Malaysia) Sdn Bhd (“JMM”), a subsidiary of M&G, had on 26 May 2020 received a notice from Repsol Oil & Gas Malaysia Limited (“Repsol”) that it will be suspending the Work Order awarded to JMM.

The details of the Work Order affected, is as follows:

JMM received the approval from Repsol for the announcement on 22 July 2020.

FINANCIAL EFFECTS

The suspension is expected to reduce the revenue of M&G for the financial period ending 30 April 2021 by RM 5.5 million. The suspension is not expected to have any effect on the share capital and shareholding structure of M&G.

DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors and/or major shareholders and/or persons connected to the Directors and/or major shareholders have any direct or indirect interest in the suspension.

This announcement is dated 23 July 2020.