1. INTRODUCTION

The Board of Directors of the Company wishes to announce that the Company will be transitioning out its current range of VUSE products from the Malaysian market in compliance with the Control of Smoking Products for Public Health Act 2024 (Act 852) and its regulations.

2. RATIONALE FOR TRANSITIONING OUT ITS CURRENT RANGE OF VUSE PRODUCTS FROM MALAYSIAN MARKET

In order to comply with the new regulatory requirements for vapour products as set out in Act 852 and its regulations that will take effect on 1 October 2025, the Company will be transitioning out its current range of VUSE products in third quarter 2025.

The Company will undertake commercial assessments of its VUSE products taking into consideration the new regulations governing such products. The Company will continue to focus on delivering combustible value growth.

3. EFFECTS OF THE TRANSITIONING OUT ITS CURRENT RANGE OF VUSE PRODUCTS FROM MALAYSIAN MARKET

The Company expects only minimal impact on the Company’s financial performance for the financial year ending 31 December 2025.

4. RISK FACTORS

There are no foreseeable significant risks beyond the usual operational risks typically associated with the normal business activities.

5. APPROVAL REQUIRED

The move to transition out its current range of VUSE products from Malaysian market complies with Act 852 and is not subject to the approval of the Company’s shareholders.

This announcement is dated 28 April 2025.