1.   LETTER OF AWARD

The Board of Directors of G Capital Berhad (“GCAP” or “the Company”) wishes to announce that G Capital Water Solutions Sdn. Bhd. (“GCAP Water Solutions”), a 51%-owned subsidiary of the Company had on 15 October 2025, being awarded a Letter of Award (“LOA”) from Senie Associates Sdn. Bhd. [Registration No. 200201012763 (580426-D)] (“Senie”) to be the Nominated Non-Revenue Water (“NRW”) specialist for “KELANTAN NON-REVENUE WATER (NRW) REDUCTION PROGRAMME (FASA 2)”.

(Hereinafter referred to as “the Project”).

The Project is funded by the Government of Malaysia through a grant provided by the Kementerian Peralihan Tenaga dan Transformasi Air Malaysia (PETRA), channelled via Jabatan Bekalan Air (JBA),  Pengurusan Aset Air Berhad (PAAB) is the implementing agency responsible for execution, with Air Kelantan Sdn Bhd (AKSB) as the Water Operator. Senie is the consulting engineer engaged by Pengurusan Aset Air Berhad (PAAB) for the implementation of the programme. Senie has appointed GCAP Water Solutions to be the Nominated NRW specialist for a contract sum of RM648,000.00.

The Project is estimated to complete within five (5) years commencing 17 October 2025. Under which, the scope of works of NRW specialist includes but not limited to the following:-

1. Flow measurement test; leakage and hydraulic modelling, NRW auditing and statistical analysis;
2. Establishing baseline NRW results before pipe replacement
3. Pipe replacement assessment and MNF flow measurement;
4. Carry out flow measurement and test after completion of pipe replacement; and
5. Preparing baseline NRW reports, post-replacement NRW report.

2.   INFORMATION ON SENIE

Senie is a private limited company, incorporated and domiciled in Malaysia and having its registered address at No 9142, Jalan Bandar 4, Taman Melawati, 53100 Selangor, Malaysia. The principal activities of Senie are providing engineering consultancy and project management services.

3.   FINANCIAL EFFECTS OF THE LOA

The Project is expected to contribute positively to the earnings of the Group with no material impact to the net assets of the Group for the financial year ending 31 December 2025.

4.   DIRECTORS AND SUBSTANTIAL SHAREHOLDERS’ INTEREST

None of the Directors or major shareholders of GCAP and persons connected with them has any direct or indirect interests, in the LOA.

5.   STATEMENT BY DIRECTORS

The Board of GCAP is of the opinion that the LOA is in the best interest of the Group.

6.   APPROVAL REQUIRED

The LOA does not require the approval of shareholders of the Company, Bursa Malaysia Securities Berhad or Securities Commission Malaysia.

This announcement is dated 17 October 2025.