The Board of Directors of Pansar Berhad ("Pansar") is pleased to announce that Perbena Emas Sdn Bhd, a wholly owned subsidiary of Pansar has received a Letter of Acceptance today from Jabatan Kerja Raya Sarawak for the Proposed Construction and Completion of the Sarawak Coastal Road Remaining Works for Packaged D2A: Proposed Construction and Completion of Approach Road for the Proposed Batang Lupar Bridge, Samarahan/Betong Division ("the Project"), with a contract value of Ringgit Malaysia One Hundred Seven Million and Five Hundred Thousand Only (RM107,500,000.00).

The scope of work includes the construction and completion of approach roads, comprising a new JKR R5 standard two-lane carriageway for Sebuyau and Triso side. The contract period is thirty-two (32) months and the project is scheduled to commence in December 2023. The contract is expected to contribute positively to the earnings and net assets of the Group as the Project progresses during the contract period.

None of the directors and/or major shareholders of Pansar or persons connected to them have any interest, direct or indirect, in the above contract.

This announcement is dated 1 December 2023.