This is a voluntary announcement made by the Company.

The Board of Directors of CITAGLOBAL is pleased to announce that the Company had on 11 January 2023 entered into a share sale agreement (“SSA”) with Dominic James How Eng Li (“Dominic”), Dato’ Indera Tun Putera Abdul Mubin Shah Bin Dato’ Munir (“Dato’ Mubin”) (hereinafter Dominic and Dato’ Mubin are collectively referred to as “the Vendors”) and WZS Powergen Sdn. Bhd. (“WZS Powergen”), an existing 61.11%-owned subsidiary of the Company, for the acquisition by CITAGLOBAL of the remaining 1,166,667 ordinary shares, representing 38.89% of the equity interest in WZS Powergen (“Sale Shares”) from the Vendors for a purchase consideration of RM1,194,916.67 in cash and Shared Profit (as defined under Section 2.3(iii) of this announcement) (“Total Acquisition Consideration”) (“Acquisition”).

Upon completion of the Acquisition (ie: upon transfer of the Sale Shares from the Vendors to the Company), WZS Powergen shall become the wholly-owned subsidiary of the Company.

Please refer to the attachment for the full details of the announcement.

This announcement is dated 11 January 2023.