Company Announcements

We refer to the earlier announcements in relation to the Rights Issue with Warrants. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements.

On behalf of the Board, AmInvestment Bank wishes to announce that the Board has on 18 September 2025 (“Price-Fixing Date”) resolved to fix the issue price of the Rights Shares at RM0.78 each (“Issue Price”) and exercise price of the Warrants at RM1.00 each (“Exercise Price”).

The Issue Price was determined and fixed by the Board after taking into consideration, among others, the following:

(i) the TERP of HRC Shares based on the five (5)-day VWAP of HRC Shares immediately preceding the Price-Fixing Date and the Board’s intention to fix the issue price of the Rights Shares at a discount of between 20.0% to 40.0% to the TERP of HRC Shares.

The Issue Price of RM0.78 per Rights Share represents a discount of approximately 20.87% to the TERP of HRC Shares of RM0.9857, calculated based on the five (5)-day VWAP of HRC Shares up to and including 17 September 2025, being the last market day immediately preceding the Price-Fixing Date of RM1.1914 per HRC Share;

(ii) the funding requirements of the Company. Based on the Issue Price, the Rights Issue with Warrants will raise an amount of RM155.0 million under the Minimum Scenario and RM234.0 million under the Maximum Scenario; and

(iii) the prevailing market conditions and market prices of HRC Shares preceding the Price-Fixing Date.

The Exercise Price was determined and fixed by the Board after taking into consideration, among others, the following:

(a) the TERP of the HRC Shares based on the five (5)-day VWAP of HRC Shares immediately preceding the Price-Fixing Date; and

(b) historical market prices of the HRC Shares.

This Announcement is dated 18 September 2025.