The Board of Directors of Wasco Berhad ("WB") is pleased to announce that its indirect wholly-owned subsidiary, WS Engineering & Fabrication Pte. Ltd. (Company Registration No. 199602164M), a company incorporated in Singapore and having its primary place of business at No. 5 Pandan Road, Singapore 609299, has been awarded a contract by Technip Energies Italy S.p.A, a company incorporated in Italy and having its registered office at Viale Castello della Magliana, 68, 00148 Rome, Italy (“Contract”).

The scope of work of the Contract involves complete procurement, and construction of pre-assembled modules on a remeasurement basis. The work and services of the Contract are expected to be completed within 37 months.

The Contract is expected to bring revenue to the WB Group, between USD150.0 million (equivalent to RM619.4 million based on the exchange rate of USD1.00 to RM4.1290) to USD200.0 million (equivalent to RM825.8 million based on the exchange rate of USD1.00 to RM4.1290) throughout the contract period. 

The work and services to be performed under the Contract are within the business scope of the Engineering Division of the WB Group and the risks are the normal operational risks associated with the said business.

The Contract is expected to contribute positively to the earnings of WB Group over the contract period. The Contract is project specific and is not renewable.

None of the Directors, major shareholders, chief executive of WB and/or persons connected to them have any interest, direct or indirect, in the Contract.

The Board is of the opinion that the Contract secured is in the ordinary course of business and are in the best interest of the Company. 

This announcement is dated 3 December 2025.