The Warrants will be credited into the Entitled Shareholders' central depository system accounts and notices of allotment will be issued and despatched to the Entitled Shareholders at the address as per the Record of Depositors of Handal within 4 market days after the date of listing and quotation for the Warrants. Entitled Shareholders are not required to take any action.

In addition, the Board has resolved to fix the exercise price of the Warrants at RM0.080 each, representing a discount of RM0.0033 or 3.96% to the 5-day volume weighted average market price (“5D-VWAP”) up to and including 27 March 2024 (being the latest trading date immediately preceding the price fixing date) of RM0.0833.

HANDAL - Bonus issue of 186,499,873 warrants in HANDAL on the basis of 1 warrant for every 2 ordinary shares held in HANDAL ("Bonus Issue of Warrants")

HANDAL ENERGY BERHAD

Kindly be advised that 186,499,873 warrants issued pursuant to the Bonus Issue of Warrants will be admitted to the Official List of Bursa Securities and the listing and quotation of the warrants on the Main Market under the “Energy” sector, will be granted with effect from 9.00 a.m., Thursday, 25 April 2024.