Unless otherwise defined in this announcement, all terms used herein shall have the same meaning as those defined in the announcements dated 29 November 2024 and 21 January 2025 in relation to the Proposed Acquisitions.

On behalf of the Board, M&A Securities is pleased to announce that Bursa Securities had, vide its letter dated 9 April 2025, approved the listing of and quotation for 19,462,674 Consideration Shares to be issued by Panda pursuant to the Proposed Acquisitions on the ACE Market of Bursa Securities subject to the following conditions:

(i) Panda and M&A Securities must fully comply with the relevant provisions under the ACE Market Listing Requirements pertaining to the implementation of the Proposed Acquisitions;

(ii) Panda and M&A Securities to inform Bursa Securities upon the completion of the Proposed Acquisitions;

(iii) Panda to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Acquisitions are completed;

(iv) Compliance by Panda with the public shareholding spread upon completion of the Proposed Acquisitions. In this connection, M&A Securities is to furnish a schedule containing the information set out in Appendix 8E, Chapter 8 of the ACE Market Listing Requirements to Bursa Securities, prior to the allotment and issuance of the Consideration Shares; and

(v) Panda to furnish Bursa Securities with a certified true copy of the resolutions passed by the shareholders in a general meeting approving the Proposed Acquisitions.

This announcement is dated 10 April 2025.