Reference is made to the announcement dated 7 October 2025 in relation to the acceptance of letter of award for Design and Build of Infrastructure, Site Clearance, Preliminaries, Earthwork, Related Civil and Structural and Retrofitting Works and 65MWp Solar PV (Photovoltaic) Energy and 200MWh Battery Energy Storage System amounting to RM305,000,000.00 from Bahru Stainless Sdn Bhd (“BSSB” or “Original Client”) (“Contract”) (“Announcement”). Unless otherwise defined, the definitions set out in the Announcement shall apply herein.

The Board of Directors of Binastra Corporation Berhad wishes to announce that its wholly-owned subsidiary, Binastra Green Energy Sdn Bhd (“BGE”) has on 15 January 2026 entered into a tripartite agreement with BSSB and Binastra Construction (M) Sdn Bhd (“BCSB” or “New Client”) whereby BCSB has elected to take over and succeed BSSB as the client for the Contract, with the Contract’s terms and conditions remain unchanged (“Agreement”). Pursuant to the Agreement, BCSB shall become the New Client of BGE, succeeding to Original Client’s rights and obligations of the asset owner and financier for the Contract.  

The Agreement has no financial impact on BGE, as the terms and conditions of the Contract remain unchanged.

INTEREST OF DIRECTORS, SUBSTANTIAL SHAREHOLDERS AND CONNECTED PERSON

The Contract as a result of the Agreement is regarded as Recurrent Related Party Transactions of a Revenue or Trading Nature (“RRPT”) pursuant to Bursa Malaysia Securities Berhad Main Market Listing Requirements of which mandate to enter into such RRPT had been obtained from its shareholders at the Annual General Meeting of the Company held on 3 July 2025.

Datuk Tan Kak Seng (“DTKS”) is the Company’s Managing Director and a Major Shareholder by virtue of his direct interests (11.09%) in the Company and his indirect interests (41.18%) held via JT Conglomerate Sdn Bhd, in which he also serves as a director.

BCSB is a company jointly owned by DTKS (64.69%), Tan Nge (“TN”), father of DTKS (32.32%) and Liu Soh Yon (“LSY”), mother of DTKS (2.99%). DTKS, TN and LSY are directors of BCSB.

Save for the foregoing, none of the other directors and/or major shareholders of the Company or persons connected to them have any interest, direct or indirect, in the Agreement.

This announcement is dated 15 January 2026.