The Board of Directors (the “Board”) of Lysaght Galvanized Steel Berhad (“the Company”) refers to the Company’s announcements dated 16 December 2020 and 15 January 2021 (the “Previous Announcements”) in which the Company announced on 16 December 2020 that Macsteel International Far East Limited (‘Macsteel’) had commenced an arbitration against the Company in Hong Kong in relation to three alleged contracts for the sale of steel coils and the Company announced on 15 January 2021 that the Company had filed a civil suit against Popeye Resources Sdn Bhd and Macsteel for amongst others, that the three alleged contracts for the sale of steel coils are forgeries and/or fraudulently prepared at the Kuala Lumpur High Court on 14 January 2021 (‘the Suit’).

The Company would like to announce that on 25 March 2021, the Company had obtained an ad interim injunction against Macsteel from proceeding with the arbitration in Hong Kong pending the disposal of the interlocutory injunction application filed by the Company.

None of the Directors and/or major shareholders of the Company and/or persons connected with them have any interest, direct or indirect in the Suit.

The Company will make further announcements on any material development concerning this matter from time to time.

This announcement is dated 25 March 2021.