Unless otherwise stated, the definitions used throughout this announcement shall have the same meanings as defined in the previous announcement made by the Company pertaining to the Proposed Acquisition of Land.

Further to the announcement made on 14 October 2026, the Board of Directors of JAG Berhad wishes to announce the additional information pertaining to the Proposed Acquisition of Land as follows:-.

1. Rationale for conducting the valuation of Land after the tender process

The valuation conducted in August 2026 was for financing purposes. Prior to that, only verbal checking and desk valuation was carried out during the tender process.

2. Method of valuation adopted for the Land

The valuation of the Land was undertaken using the Comparison Approach. This approach involves comparing the Land with recently transacted properties of a similar nature and/or comparable properties offered for sale or rental within the surrounding area.

Appropriate adjustments were made to account for differences in location, lot size, site conditions, prevailing market conditions and other relevant factors to arrive at a common basis for comparison and determine the market value of the Land.

3. Rationale

The Group has determined the intended use of the Land, as described in Item 7 of the Announcement. However, the relevant consultants have yet to be appointed. The Group will appoint these consultants only upon completion of the Proposed Acquisition of Land to assess the detailed scope of works and associated capital expenditure required for the intended use.

Accordingly, the capital expenditure has yet to be determined. The Group intends to fund such expenditure through a combination of internally generated funds and bank borrowings, with the funding mix to be determined upon finalisation of the capital expenditure requirements

Following completion of the acquisition pursuant to the SPA, the Group will engage the relevant consultants to identify and obtain the approvals required for the proposed development and operations. Depending on the finalised scope and nature of the proposed activities, these include but not limited to approvals from the relevant local authority, the Department of Environment ("DOE"), including approval of an Environmental Impact Assessment ("EIA"), and manufacturing-related approvals involving the Malaysian Investment Development Authority ("MIDA").

The specific approval requirements and estimated timeframe for obtaining such approvals will be determined following consultation with the relevant consultants and authorities.

4. Breakdown of sources of funding between internally generated funds and bank borrowing

The Purchase Price for the Proposed Acquisition of Land will be funded through 90% bank borrowings and 10% internally generated funds.

5. Document For Inspection

The valuation report is available for inspection by the shareholders of JAG at the registered office of the Company at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur, Wilayah Persekutuan, during the normal business hours from Mondays to Fridays (except for Public Holiday) for a period of three (3) months from the date of the Announcement.

This announcement is dated 16 October 2026.