1. INTRODUCTION

The Board of Directors of Infomina is pleased to announce that Infomina Philippines, Inc. (“Infomina PH”) had received the PO, which is dated 23 March 2023, from Philippine National Bank (“PNB”) today.

2. DETAILS OF PO

The PO is for the provision of technology application and infrastructure operations, maintenance and support services to PNB, over a period of three (3) years commencing from 1 March 2023 to 28 February 2026 (“Period”).

The value for the PO is approximately USD5.4 million (equivalent to RM23.9 million) (inclusive of value added tax) for the entire Period.

3. RISK FACTOR

The risk factors associated with the PO are the same as those presently faced by Infomina PH. The main risk for the PO will be the currency risk where fluctuations in foreign currency exchange rates, particularly in USD, which any unfavourable fluctuations may adversely affect the Company's financial performance and profit margin.

4. FINANCIAL EFFECTS

The PO is expected to contribute positively to the earnings of the Infomina Group over the Period.

5. INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM

The acceptance of the PO is in the ordinary course of business and is in the best interest of the Company.

None of the Directors, major shareholders of Infomina and/or persons connected with them has any interest, whether direct or indirect, in the PO.

This announcement is dated 27 March 2023.