Further to our announcement made on 1 October 2024, the Board of Directors of Central Global Berhad ("CGB" or "the Company") wishes to provide additional information in relation to the Acquisition.

Unless otherwise stated, the terms used in this announcement shall carry the same meanings with the terms used in our announcement dated 1 October 2024.

The additional information on the Acquisition is as follows:-

1. The purpose of the Acquisition is:-

(a) Acquiring the Property is part of the overall strategy of increasing the Group’s profile as one of the leading construction group in East Malaysia (specifically in Sabah). As the group is expected to expand its presence in East Malaysia, the group is expected to employ additional employee which would require bigger office space.

(b) To cross-sell and expand the presence of Central Industrial Corporation Berhad ("CICB")’s products by stocking its products in the Property. CICB is a wholly owned subsidiary of CGB, with its manufacturing plant in West Malaysia, i.e. Sungai Petani, Kedah. CICB is a public company and not listed on Bursa Malaysia Securities Berhad.

Presently, it takes approximately 6 to 8 weeks for the products of CICB to be delivered to East Malaysia, namely Kota Kinabalu from CICB’s manufacturing plant in Sungai Petani, Kedah. Using this Property partly as a warehouse to store CICB’s products in East Malaysia is anticipated to improve the logistic management and expansion of CICB’s products in East Malaysia.

(c) To be the headquarter/ warehouse/ storehouse for our vehicles/ machineries for our on-going and completed construction projects. For projects that are completed, we would require a proper storage place for the machineries which cannot be redeploy or used in other projects.

2. The valuation on the Property was undertaken by Azmi & Co (Sabah) Sdn. Bhd. (“Valuer”) with the inspection on the Property carried out by the Valuer on 8 May 2024 and the Valuation Report was dated 16 August 2024. The Valuer has undertaken contractor’s test valuation method on the Property. Further, the Valuer has also considered the value derived against the general level of values transacted as a check on the overall magnitude of the valuation in carrying out its valuation method.

3. The Property was built in 2011 and presently, it is approximately 13 years old.

This announcement is dated 3 October 2024.