Reference is made to Company's announcements dated 21 July 2020, 21 December 2020 and 25 March 2021  in relation to the Notice of Adjudication dated 17 July 2020 issued under the Construction Industry Payment & Adjudication Act 2012 ("CIPAA") to the Company's wholly-owned subsidiary, Puncak Niaga Construction Sdn Bhd ("PNCSB") by its sub-contractor, City Tunneling Sdn Bhd ("City Tunneling").

Puncak wishes to announce that further to the Adjudication Decision dated 25 March 2021, PNCSB has reached an amicable resolution with City Tunneling over the sums to be paid pursuant to the Adjudication Decision dated 25 March 2021 as well as matters which relate to City Tunneling in the D44 Project, going forward.

This announcement is dated 7 April 2021.