We wish to announce that PCHEM-C96 had expired at 9.00 a.m. on 24 March 2025 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of PCHEM-C96 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of PCHEM-C96 exercised x (1/6) x (RM3.7259 - RM7.8800) 
= Number of PCHEM-C96 exercised x RM0.0000 

The Closing Price of RM3.7259 is the average daily volume weighted average price (VWAP) of the ordinary shares of PCHEM on Bursa Malaysia Securities Berhad for the five (5) market days prior to and including the market day immediately before the Expiry Date. The PCHEM-C96 is deemed to have been automatically exercised on the Expiry Date.

As the Cash Settlement Amount is less than Zero, warrantholders will not be entitled to receive any payment from us and all outstanding and unexercised PCHEM-C96 will cease to be valid and all our obligations in respect to PCHEM-C96 shall terminate absolutely.

This announcement is dated 24 March 2025.