The Board of Directors of Lion Industries Corporation Berhad (“LICB”) wishes to announce that the Company proposes to seek approval of its Shareholders for the following at the forthcoming 92nd Annual General Meeting to be convened:

(i) proposed renewal of the shareholders’ mandate for the LICB group of companies to enter into recurrent related party transactions of a revenue or trading nature with related parties (“Proposed Shareholders’ Mandate”); and

(ii) proposed renewal of share buy-back authority (“Proposed Share Buy-Back Authority”).

A Circular to Shareholders containing the information on the Proposed Shareholders’ Mandate and a statement to Shareholders containing the information on the Proposed Share Buy-Back Authority will be issued in due course.