ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE NON-COLLATERALISED CASH-SETTLED CALL WARRANTS OVER ORDINARY SHARES OF MALAYSIA SMELTING CORPORATION BERHAD ("MSC") ("MSC-CW") PURSUANT TO THE SPECIAL SINGLE TIER DIVIDEND OF RM0.04 PER ORDINARY SHARE FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2026

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted "Ex - Adjustment" as from: 10 Jun 2026
2) The last date of lodgment : 11 Jun 2026

Remarks :

We refer to MSC's announcement dated 22 May 2026 in relation to the Special single tier dividend of RM0.04 per ordinary share for the financial year ended 31 December 2026 ("Special Dividend"). 

In accordance with the Third Schedule of the Deed Poll dated 28 March 2025, the terms and conditions of MSC-CW will be adjusted accordingly as follow:
1. Adjusted Exercise Ratio = E x [(P - D) / P]
2. Adjusted Exercise Price = X x [(P - D) / P]
whereby: 
D = RM0.0400, being the Special Dividend per one MSC Share held. 
P = Closing price of MSC on the last market day on which MSC is traded on cum-entitlement basis. 
E : 4.5, being the existing Exercise Ratio of MSC-CW immediately prior to the Special Dividend 
X : RM2.2800, being the existing Exercise Price of MSC-CW immediately prior to the Special Dividend.

Please note the Exercise Price and Exercise Ratio shall only be adjusted if the adjustment would result in greater than or equal to two percent (2%) of the Exercise Price and Exercise Ratio being changed.

For avoidance of doubt, reference should be made to the Base Prospectus dated 11 April 2025 and the terms and conditions therein shall prevail.