The Board of Directors of Divfex Berhad (formerly known as Diversified Gateway Solutions Berhad) (“DFX” or “the Company”) wishes to announce that Diversified Gateway Berhad (“DGB”), a wholly-owned subsidiary of DFX, has on 18 October 2022 accepted a Letter of Award ("LOA") from Telekom Malaysia Berhad ("TMB") dated 14 October 2022 for the “Agreement for the plan, design, supply, delivery, installation, testing, commissioning, maintenance and support services of Dense Wavelength Division Multiplexing (DWDM) for TMB for a period of sixteen (16) years and seven (7) months and fifteen (15) days, commencing from 1st August 2022 until 15th March 2039 for the total contract value of RM71,819,851.53 (inclusive of Sales and Service Tax (SST) of 6%) (“the TM Contract”).

The TM Contract is subject to a formal agreement to be entered into between TMB and DGB within 3 months from the date of the LOA.

The LOA does not have any effect on the issued share capital and substantial shareholders’ shareholdings in the Company.

The LOA is expected to contribute positively to the revenue, earnings and net assets of DFX Group for the financial year ending 30 June 2023.

The Company does not foresee any exceptional risk other than operational risks associated with the TM Contract during the contract period.

None of the Directors and/or the substantial shareholders of the Company and/or persons connected with the Directors and/or substantial shareholders of the Company have any interest, direct or indirect, in the LOA.

The Board of Directors of the Company is of the opinion that the acceptance of the LOA is in the best interest of DFX Group.

This announcement is dated 27 October 2022.