The Board of Directors of Pansar Berhad ("Pansar") is pleased to announce that Perbena Emas Sdn Bhd, a wholly owned subsidiary of Pansar had, on 13 October 2022 received a Letter of Acceptance from Jabatan Kerja Raya Sarawak for the completion of Remaining Works To The Proposed Road at Jalan Lubok Teranggas, Samarahan Division ("the Project"), with a contract value of Ringgit Malaysia Sixty Seven Million One Hundred Eight Thousand And Three Hundred Only (RM67,108,300.00).

The scope of work includes the construction and completion of road, along with two bridges. The contract period is thirty (30) months and the Project is scheduled to commence in October 2022. The contract is expected to contribute positively to the earnings and net assets of the Group as the Project progresses during the contract period.

None of the directors and/or major shareholders of Pansar or persons connected to them have any interest, direct or indirect, in the above contract.

This announcement is dated 14 October 2022.