On behalf of the Board of Directors of EPM, Mercury Securities Sdn Bhd wishes to announce that:

(i) EPM had on 29 November 2021 entered into a conditional sale and purchase agreement with Precious Vision Sdn Bhd ("Precious Vision") and EP Properties (M) Sdn Bhd for the proposed disposal of the Glenmarie Properties (as defined in the attachment) for a total cash consideration of RM53.5 million ("SPA"). Simultaneously with the execution of the SPA, EPM has entered into a conditional lease agreement with Precious Vision to lease part of the Glenmarie Properties ("Lease Agreement"), which is currently used by the EPM group of companies ("EPM Group") as its manufacturing plant and office premise, for a lease term of 5 years commencing from the unconditional date of the Lease Agreement ("Proposed Disposal and Leaseback"); and

(ii) EPM also propose to undertake the following:

(a) proposed private placement of up to 30% of EPM’s total number of issued ordinary shares ("Shares") to third party investors to be identified later ("Proposed Private Placement");

(b) proposed establishment of an employee’s share option scheme ("ESOS") of up to 15% of EPM’s total number of issued Shares, excluding treasury shares, if any, at any point in time over the duration of the ESOS for the eligible Directors and employees of the EPM Group ("Proposed ESOS"); and

(c) proposed diversification of the EPM Group’s principal activities to include the undertaking of property development, construction, project management and related activities ("Proposed Diversification").

Please refer to the attachment for further details of the Proposals.

This announcement is dated 29 November 2021.