1. INTRODUCTION

Reference is made to the announcement released on 27 November 2024.

The Board of Directors of Selangor Dredging Berhad ("SDB") wishes to announce that SDB Properties Sdn. Bhd. ("SDBP"), a wholly-owned subsidiary of SDB, has entered into a settlement agreement with Rubyverse Sdn. Bhd. ("RVSB") on 30 April 2026 to fully and finally resolve the litigation and the counterclaim between SDBP and RVSB ("Settlement").

2. DETAILS OF THE SETTLEMENT

1. SDBP and RVSB ("the Parties") have agreed to a settlement sum of RM345,000.00, which constitutes a full and final settlement of all claims and counterclaim between the Parties.
2. The Settlement is entered into without any admission of liability by any of the Parties.
3. Pursuant to the Settlement, both the main claim and the counterclaim will be withdrawn without liberty to file afresh and with no order as to costs.
4. The Parties have agreed to mutually release and discharge each other from any and all claims, actions, proceedings, liabilities and obligations arising out of or in connection with the subject matter of the litigation.

3. RATIONALE

The Settlement enables the Parties to resolve the dispute amicably, avoid further legal costs and uncertainties, and allows SDBP to focus on its business operations.

4. FINANCIAL EFFECTS

The Settlement is not expected to have any material effect on:

1. the earnings of the SDB Group for the financial year ending 31 March 2027; and
2. the net assets of the SDB Group,

other than the settlement sum of RM345,000.00 to be recognised in the financial statements.

This announcement is dated 30 April 2026.