Reference is directed to the announcement made by the Company on 30 August 2021 (“Announcement”) in relation to the settlement of the matter between the Company and its wholly-owned subsidiary, PBJV Group Sdn Bhd (“PBJV”) and Kota Laksamana 101 Ltd (“KL 101”) wholly-owned subsidiary of PBJV, with Export-Import Bank of Malaysia Berhad (“EXIM BANK”).

The Board of Directors of Barakah wishes to announce that EXIM BANK has, through its letters dated 13 March 2024 and 25 March 2024, agreed to grant an extension of time until 31 October 2024 for the purpose of payment of the agreed settlement sum (“Settlement Sum”) by the Company and/or KL 101.

The said extension of time will facilitate the ongoing disposal process of the Kota Laksamana 101 barge being undertaken by the Company.

This announcement is dated 26 March 2024.