The Board of Directors of PETRONAS Gas Berhad ("PGB") (“Board”) wishes to announce that the Board had on 23 July 2025 approved a Proposed Internal Reorganisation by way of a members’ scheme of arrangement under Sections 366 and 370 of the Companies Act, 2016 (“Act”) (“Scheme”), subject to final approval of the tax exemption from the Ministry of Finance’s (“MOF”). The MOF, vide its letter dated 24 September 2025 and received by the Company on 30 September 2025, has granted its approval for the relevant tax exemption in respect of the Proposed Internal Reorganisation.

The Proposed Internal Reorganisation will involve the transfer of the assets, liabilities and business undertakings of PGB’s core business segments, namely gas transportation, gas processing and utilities, respectively into three (3) wholly owned subsidiaries of the Company.

This strategic initiative is intended to streamline the business segments under the Company into identifiable business entities by establishing a distinction between regulated and non-regulated businesses. It also reflects the commitment by PGB and its group of companies comprising of subsidiaries, associate companies and joint ventures (collectively, “Group”) to its medium to long-term strategic agenda.

Please refer to the attachment for further details of the Proposed Internal Reorganisation.

This announcement is dated 1 October 2025.