On behalf of the Board of Directors of FBG ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that FBG and FBG Land Sdn Bhd (formerly known as Fajarbaru Land (M) Sdn Bhd) ("FBL" or the "Purchaser"), a wholly-owned subsidiary of FBG, had on 20 January 2025, entered into a master purchase and development agreement ("PDA") with The Penang Development Corporation ("PDC" or the "Vendor") for the proposed joint development project between FBG and PDC known as MediCity in Batu Kawan, Penang entailing the proposed acquisition by FBL of a parcel of land measuring approximately 51.172 acres located in Bandar Cassia, Mukim 13, Batu Kawan, Seberang Perai Selatan, Penang ("Parcel 1 Land") for a purchase consideration of RM111,452,616.00 (Ringgit Malaysia One Hundred Eleven Million Four Hundred Fifty Two Thousand Six Hundred Sixteen Only) ("Purchase Consideration"), to be satisfied entirely in cash ("Proposed Acquisition").

Please refer to the attachment for further details on the Proposed Acquisition.

This announcement is dated 20 January 2025.