We refer to our announcements made on 27 March 2022, 13 April 2022 and 29 April 2022 whereat a Letter of Intent was entered into between City Meridian Development Sdn. Bhd., a wholly-owned subsidiary of TLB, and DHL Properties (M) Sdn. Bhd. (“DHL”) to negotiate in good faith the proposal for the build-to-suit and subsequent lease by DHL of the area situated at Lot 12174, No Hakmilik 4022, Mukim 12, Daerah Barat Daya, Pulau Pinang.

The Board of Directors of TLB wishes to announce that Aman Duta Sdn. Bhd., an indirect wholly-owned subsidiary of TLB, had on 15 June 2022, entered into an agreement to build-and-let with DHL ("Agreement").

None of the Directors and/or major shareholders of TLB and/or persons connected to them have any interest, direct or indirect, in the Agreement.

After having considered all aspects of the Agreement, the Board is of the opinion that the Agreement is in the best interest of the Company.

This announcement is dated 15 June 2022.