The Board of Directors of PIB ("Board") wishes to announce that the Company was recently made aware by Bursa Malaysia Securities Berhad ("Bursa Malaysia") through its email dated 8 September 2026, forwarding a copy of the notice of advertisement published by Shandong Power Equipment Company Limited ("SPECO") in The Star and Sinar Harian in relation to the Winding Up Petition purportedly presented against the Company by SPECO.

For the avoidance of doubt, as at the date of this announcement, the Company maintains its position that it has not been duly and validly served with the Winding Up Petition. The Company has not, at this juncture, accepted or admitted the validity or effectiveness of any purported service of the Winding Up Petition.

Accordingly, the Company reserves all its rights to challenge the Winding Up Petition including the validity of the purported service thereof as well as the underlying claim made by SPECO therein.

Nevertheless, based on the information presently available to the Company, it appears that the Winding Up Petition relates to an alleged sum purportedly due and owing by the Company pursuant to an alleged undated Corporate Guarantee ("Purported Corporate Guarantee"), the validity and enforceability of which are disputed by the Company in the civil suit commenced at Kuala Lumpur High Court vide Civil Suit No. WA-22ICA-27-08/2026 ("Civil Suit"), as previously announced by the Company on 24 August 2026. 

Further, as announced by the Company on 7 September 2026, the Company has successfully obtained an injunction in the Civil Suit against SPECO, inter alia, restraining SPECO from enforcing its rights under the Purported Corporate Guarantee.

In this regard, the Company reiterates and maintains its position that SPECO's claim, including the alleged indebtedness and the validity and enforceability of the Purported Corporate Guarantee is strongly disputed by the Company.

This announcement is dated 15 September 2026.