1. INTRODUCTION

The Board of Directors of Nestcon ("the Board") wishes to announce that Nestcon Builders Sdn. Bhd. ("NBSB"), a wholly-owned subsidiary of the Company, had on 3 August 2026 accepted the letter of award dated 3 August 2026 ("LOA") from EXSIM MX4 Sdn. Bhd. ("EMX4SB") in respect of the construction of one (1) block of 28-storey affordable apartments on No. 2 (PT 57026), Jalan Tasik Kenyir U4/21A, Kwasa Damansara, Seksyen U4, 40150 Shah Alam, Selangor Darul Ehsan ("the Main Building Works").

2. INFORMATION ON NBSB

NBSB was incorporated in Malaysia as a private company limited by shares having its registered address at No. D-09-02, Level 9, EXSIM Tower, Millerz Square @ Old Klang Road, Megan Legasi, No. 357, Jalan Kelang Lama, 58000 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur.

The nature of business of NBSB is principally involved in construction works.

3. INFORMATION ON EMX4SB

EMX4SB was incorporated in Malaysia as a private company limited by shares having its business address at D-35-01, Level 35, EXSIM Tower, Millerz Square @ Old Klang Road, Megan Legasi, No. 357, Jalan Kelang Lama, 58000 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur.

The nature of business of EMX4SB is principally involved in the business of housing developers and building contractors, the business of estate property, land and house agents, and purchase and sell for any persons freehold or other property buildings or land or any share and interest therein.

4. DETAILS OF THE LOA

(a) The contract sum for the Main Building Works is RM74,520,859.11 (Ringgit Malaysia: Seventy-Four Million Five Hundred Twenty Thousand Eight Hundred Fifty-Nine and Sen Eleven Only).

(b) The date of commencement shall be 3 August 2026.

(c) The overall completion period for the Main Building Works shall be twenty-nine (29) months from the date of commencement. Accordingly, the completion date shall be 2 January 2029.

(d) The defect liability period shall be twenty-seven (27) months from the day stated in the Certificate of Practical Completion of the Main Building Works.

(e) NBSB shall carry the Main Building Works in accordance with the other supplementary terms and conditions set out in the LOA.

5. FINANCIAL EFFECTS

The acceptance of the LOA by NBSB to undertake the Main Building Works is expected to contribute positively to the net assets per share, earnings per share and gearing of the Company throughout the duration of the Main Building Works.

6. RISK FACTORS

The Company does not foresee any exceptional risk other than the normal operational risks associated with the LOA and/or the Main Building Works. Nevertheless, the Company will take the necessary steps to mitigate the risks as and when they occur.

7. APPROVAL REQUIRED

The acceptance of the LOA is not subject to the approval from the Company's shareholders and/or any regulatory authorities.

8. DIRECTORS' AND MAJOR SHAREHOLDERS' AND/OR PERSONS CONNECTED WITH A DIRECTOR OR MAJOR SHAREHOLDER'S INTERESTS

None of the Directors and/or major shareholders of Nestcon or persons connected with them has any interests, direct or indirect, in the LOA and/or the Main Building Works.

9. STATEMENT BY THE BOARD OF DIRECTORS

The Board, after having considered all aspects of the LOA and the Main Building Works, is of the opinion that the LOA and the Main Building Works are within the ordinary course of business of Nestcon and the acceptance of the LOA is in the best interest of the Company.

This announcement is dated 3 August 2026.