Broadcast Venue:

AGM Room, K-63A-3rd Floor, Signature Office,

KK Times Square, Off Coastal Highway,

88100 Kota Kinabalu, Sabah,

The Board of Directors of Kwantas Corporation Berhad (“Kwantas” or “Company”) wishes to announce that the Special Resolution in respect of the proposed selective capital reduction and repayment exercise of the Company pursuant to Section 116 of the Companies Act, 2016 (“Proposed SCR”) as set out in the Notice of Extraordinary General Meeting of the Company (“EGM”) dated 30 October 2020 was duly approved by the disinterested shareholders of the Company at the EGM held today.

Based on the results of the poll validated by Asia Securities Sdn Bhd, the independent scrutineer appointed by the Company, the Special Resolution was voted for by 97.09% in number of the disinterested shareholders and 99.95% in value to the votes attached to the ordinary shares of Kwantas (“Kwantas Shares”) held by the disinterested shareholders that were cast either in person or by proxy at the EGM. Further, 0.03% of the votes attached to all Kwantas Shares held by the disinterested shareholders of the total voting shares of Kwantas voted against the Special Resolution.

Details of the results of the poll are set out below.

This announcement is dated 30 November 2020.