The Board of Directors of NPC wishes to announce that on 5 July 2021, NPC has accepted a non-binding offer made by IOI Corporation Berhad ("Purchaser") to acquire:

(a) legal and/or beneficial interest in palm oil agriculture lands ("Properties") measuring in total 3,746.44 planted hectares situated respectively in:

      (i) the district of Labuk & Sugut, State of Sabah;

      (ii) the district of Kinabatangan, State of Sabah; and

     (iii) the district of Beluran, State of Sabah

which are held by the respective subsidiaries of NPC, at a total indicative cash consideration of RM226,584,140; and

(b) a parcel of land measuring 881.35 planted hectares situated in the district of Labuk & Sugut, State of Sabah ("Koperasi Land"), in which Berkat Setia Sdn Bhd ("Berkat"), a subsidiary of NPC, hold development rights pursuant to an Agreement for Develpment of Land dated 7 May 1999 between Berkat and Koperasi Kakitangan Perkhidmatan Pelajaran Sabah Berhad ("Koperasi") at a total indicative cash consideration of RM54,643,700 to be shared between Koperasi and Berkat.

Please refer to the attachment for further details.

This announcement is dated 5 July 2021