1. Introduction

The Board of Directors of Uzma ("Uzma" or "the Company") is pleased to announce that Uzma Engineering Sdn Bhd ("UESB"), a wholly-owned subsidiary of the Company has accepted a Work Order Award dated 13 March 2025 under Pan Malaysia Umbrella Contract for The Provision of Marine Streamer and Ocean Bottom Seismic (OBS) For 2D & 3D/4D Seismic Data Acquisition Services for Petroleum Arrangement Contractors (PACS) from PETRONAS Carigali Sdn. Bhd. (“PCSB”) for the Provision of Long-Term Charter of Seismic Vessel for 2D&3D Broadband Marine Seismic Data Acquisition Services for PCSB (“WOA”) and which was subsequently approved for announcement by PCSB on 15 May 2025. 

2. Salient Terms 

The salient terms of the WOA are as follows: -

(a) the scope of works include:

• to prepare, plan and provide all associated services for the Provision of Long-term Charter of Seismic Vessel for the 2D&3D Broadband Marine Seismic Data Acquisition Services as per PCSB’s requirement;

• to provide all vessels, industry standard equipment, experienced personnel, and all other items necessary for the provision of the works; and

• to provide any value-added technology, including but not limited to low-frequency sources and marine vibroseis and any other request deemed suitable by PCSB to improve seismic imaging and/or operational efficiency.

(b) The WOA is effective on 14 March 2025 and shall remain valid for two (2) years until 13 March 2027. 

(c) The tentative commitment for this WOA shall cover:

• Peninsular Malaysia area with estimated size of 12,000 sq/km

• Sabah area with estimated size of 4,000 sq/km

3. Risk Factors

Potential risk factors include project operational and execution risks, work schedules, delivery timelines and adverse weather conditions.

4. Financial Effects
The WOA is expected to contribute positively towards the earnings and net assets per share of the Company for the financial year ending 30 June 2025 and onwards until the expiry of the WOA.

5. Directors’ and Major Shareholders’ Interests
None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of Uzma have any direct or indirect interest in the WOA.

6. Directors’ Statement
The Board of Directors of the Company, after considering all the relevant factors, is of the opinion that the WOA is in the best interest of the Company.

This announcement is dated 15 May 2025.