The Board of Directors of XL wishes to announce that its wholly owned subsidiary, XL Retail Sdn. Bhd. had on 30 April 2026 entered into an Asset Purchase Agreement ("Agreement") with Jutaria Gemilang Sdn. Bhd. to purchase the assets as listed below, upon the terms and conditions contained in the Agreement ("Proposed Acquisition").

The assets to be acquired under the Proposed Acquisition is comprised of:

(i) The tenancies to all thirty-four (34) minimarts throughout Malaysia under the trade name of "GIANT Mini" all located at various locations in Klang Valley, Malaysia ("Giant Mini Outlets");
(ii) All furnishings, fixtures and fittings, equipment and all other tangible assets used in the operation of the business at the Giant Mini Outlets and subject to joint stock take to be undertaken by the parties;
(iii) All stocks and inventories located at each Giant Mini Outlets amounting to approximately Ringgit Malaysia One Hundred Thousand only (RM100,000.00) (minimum) per Giant Mini Outlet determined based on cost price basis and subject to a joint stock take to be undertaken by the parties;
(iv) The employees of Giant Mini Outlets,
 

("Seller's Business Assets").
 

The purchase consideration for the Seller's Business Assets shall be Ringgit Malaysia Fifteen Million only (RM15,000,000.00).

Please refer to the attachment for further details.
 

This announcement is dated 4 May 2026.