The Company wishes to announce that on 17 May 2023, BHIC Submarine Engineering Services Sdn Bhd (“BSES”) (200301092901), a wholly owned subsidiary of BHIC, has accepted the Letter of Award dated 5 May 2023 from the Ministry of Defence Malaysia representing the Government of Malaysia, awarding BSES an extension to the Submarine Facilities Upkeep contract for the Royal Malaysian Navy (“Contract”) at a contract value of Ringgit Malaysia Forty Million, Two Hundred Sixty Thousand, Seven Hundred and Sixty Three Only (RM40,260,763.00) for a contract period of twelve (12) months from 1 January 2023 until 31 December 2023. A formal contract between the Government of Malaysia and BSES will be finalized and executed at a later date.

The Contract will contribute positively to the earnings of the BHIC Group for the financial year ending 31 December 2023.

Save for Tan Sri Dato’ Wira Aziah Ali and (Dr.) Salihin Abang who are the Directors of BHIC and BSES, none of the directors or substantial shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the Contract.

This announcement is dated 18 May 2023.