The Board of Directors of Eco World Development Group Berhad (“EcoWorld”) wishes to announce that EcoWorld, through its wholly-owned subsidiary, Ascension Synergy Sdn Bhd, had entered into 3 subscription and shareholders’ agreements with companies related to JLG Investment Holdings Sdn Bhd.

This establishes a platform and provides an opportunity for parties to work together to undertake developments in Australia and Iskandar Malaysia (“Developments”) through the respective jointly-owned entities. Each party will have 50% equity interest in each of these jointly-owned entities. 

For the development in Australia, Versione NODE Sdn Bhd entered into a conditional share purchase agreement with Fortune Quest Group Ltd on 13 March 2026 to acquire 100% equity interest in Eco World (Macquarie) Pty Ltd (“EMPL”) for a total cash consideration of AUD32.0 million (“Proposed Macquarie Acquisition”). EMPL is the registered proprietor of approximately 2,751 square metres (equivalent to approximately 0.7 acres) of freehold land located in Macquarie Park, Sydney.

As a 50% shareholder, EcoWorld will have to provide the required portion of financial assistance requested by each of these jointly-owned entities to partially fund their respective acquisitions and/or developments (“Proposed Provision of Financial Assistance”).

Further details of the Developments, Proposed Macquarie Acquisition and Proposed Provision of Financial Assistance are set out in the attachment.

This announcement is dated 13 March 2026.