The Board of Directors of PANDA wishes to announce that the Company intends to seek its shareholders’ approval for the Proposed Shareholders' Ratification and New Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature at the forthcoming Annual General Meeting of the Company to be convened.

The Circular to Shareholders containing the details of the above proposal will be despatched to the shareholders of the Company in due course.

This announcement is dated 15 April 2024.