Further to the announcement (Ref No. GA1-06052026-00034) made on 6 May 2026 pertaining to the receipt of the Letter of Acceptance ("LOA") from JBALB Sarawak by Perbena Emas Sdn Bhd, a wholly-owned subsidiary of Pansar Berhad ("Pansar"), in relation to the Proposed Upgrading of Kaki Wong Water Treatment Plant project in Saratok, Betong Division ("the project"), Pansar wishes to furnish the following additional information:

Conditions of the LOA
The LOA has been accepted, pending execution of a formal contract agreement, which will contain other customary terms and conditions generally applicable to government Design and Build contracts and project administration procedures.

Key Risks Related to the Project
The Board of Directors of Pansar is of the opinion that the project is undertaken in the ordinary course of business of the Group and is exposed to risks normally associated with government Design and Build construction projects, including project execution risks, regulatory approvals, fluctuations in material prices, weather conditions and operational coordination. In addition, current global geopolitical developments may contribute to fluctuations in logistics and material costs, which may in turn affect the operating cost of the project.

Nevertheless, the Group will continue to undertake the necessary measures to manage and mitigate these risks throughout the implementation period of the project.

This announcement is dated 11 May 2026.