(The abbreviations use in the announcement shall carry the same meaning as those previously defined in the Company’s announcement dated 19 July 2021 in relation to the Proposed Acquisition.)

Reference is made to the announcement dated 19 July 2021 in relation to the Proposed Acquisition.

Based on the audited financial statements of Kensington Development for the FYE 31 December 2020, Kensington Development would not contribute to 25% or more of the Group’s net profit and/or result in a diversion of 25% or more of the Group’s net assets.

Nevertheless, the Company expects the profit of Kensington Development in the future to potentially contribute to 25% or more of the Group’s net profits. Pursuant thereto, the Company shall seek its shareholders’ approval for the proposed diversification of the Group’s business to include property development, construction, project management and its related activities pursuant to Paragraph 10.13(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad in the next general meeting.

Notwithstanding the above, EPM intends to continue with the Group’s existing business in the same manner.

This announcement is dated 22 July 2021.