(For consistency purposes, the abbreviations and definitions used throughout this announcement are the same as those previously defined in the Company’s circular in relation to the Rights Issue dated 22 September 2023.)

We refer to the Company’s announcement dated 5 April 2023 and its subsequent announcements in relation to the Rights Issue.

On behalf of the Board, KAF IB wishes to announce that, after due consideration of the downward trend of the market prices of GCAP Shares since the announcement of the Rights Issue on 5 April 2023, the Board had resolved not to proceed with the Rights Issue.

The Board shall continue to review other alternative forms of fundraising to satisfy the Company’s funding requirement for its Project Costs and will make the necessary announcement(s) should the Company undertake any other alternative fundraising proposal(s). The aborting of the Rights Issue is not expected to have any material effect on the earnings and NA of the Company.

This announcement is dated 2 July 2024.