For consistency, the abbreviations and definitions in this announcement are the same as those defined in the announcements dated 15 November 2023 (GA1-15112023-00024), 7 January 2025 (GA1-07012025-00028) and 14 July 2025  (GA1-07012025-00040) pertaining to a Joint Venture cum Shareholders Agreement (JVSA) dated 25 June 2025 entered into between Bina Darulaman Berhad (BDB) and Energise Sdn Bhd (Energise) (Registration No. 202301012551 (1506473-T) to establish a joint venture (JV) to operate and manage a green energy business including but not limited to the manufacture of organic biomass pellets, the production and sale of bioenergy products and the cultivation of agricultural products to supply the raw material required for organic biomass (Business). 

The Board of Directors of BDB wishes to announce that BDB and Energise have, on 2 July 2026, signed a Letter of Agreement in which both parties have agreed to the mutual dissolution of the JV and to exit the JVSA.

This mutual dissolution is in accordance with Clause 19.2 of the JVSA, which allows parties to mutually agree in writing to terminate/dissolve the JV.  

Each party will bear its own cost and expenses incurred in relation to the JVSA including the incorporation of the JV company, BDB Energise Sdn Bhd (BDBE) and the mutual dissolution. As of today, BDBE has not commenced operation nor secured any Business. 

The Board of Directors of BDB, having considered all aspects of the mutual dissolution, is of the opinion that the mutual dissolution is in the best interests of BDB. The mutual dissolution is not expected to have any significant effect on the earnings, net assets per share and gearing of the Company for the financial year ending 31 December 2026. 

This announcement is dated 13 July 2026.