BERMAZ AUTO BERHAD ("BAuto" or "The Company")

VALUATION OF FREEHOLD LAND

1. Introduction

Pursuant to Paragraph 9.19(46) and Part H of Appendix 9A of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors ("Board") of BAuto wishes to announce that the Board has on 11 June 2026 resolved to approve the incorporation of the revaluation of the Company and its subsidiaries ("Group")'s freehold lands ("Freehold Land") into the unaudited consolidated financial statements of BAuto for the fourth (4th) financial quarter ended 30 April 2026 and shall be appropriately reflected in the Company's audited consolidated financial statements for the financial year ended 30 April 2026.

Currently, the Group's Freehold Land are held by Bermaz Motor Sdn Bhd, a wholly owned subsidiary of BAuto. The revaluations were carried out by independent professional valuers namely, Rahim & Co International Sdn. Bhd. and Savills (Malaysia) Sdn. Bhd., where the Comparison Approach method of valuation (as per the Malaysia Valuation Standards) was adopted in determining the fair values of the Freehold Land ("Revaluation"). The Revaluation has resulted in a revaluation surplus, net of tax of RM29,340,651.

2. Purpose and Rationale of the Revaluation

With effect from financial year ended 30 April 2026, the Group changed its accounting policy for the valuation of its Freehold Land from the historical cost model to the revaluation model. The Group is of the view that the historical cost model no longer provided a meaningful representation of the true value of its Freehold Land. The adoption of the revaluation model ensures that the Group's financial statements reflect current market conditions and the actual worth of its Freehold Land.

The change in accounting policy is to provide more relevant and reliable information on the fair values of the Group's Freehold Land and to better reflect their current market values in the financial statements. It enhances the relevance of the Group's financial reporting while also strengthening investors and lenders confidence. By improving transparency and aligning the Freehold Land values with market realities, the revaluation model is expected to enhance shareholders' value and facilitate better access to capital markets and funding at competitive interest rates.

The Revaluation was carried out in accordance with the accounting policy of the Group to determine and reflect the fair values of the Freehold Land pursuant to the Malaysian Financial Reporting Standard 116: Property, Plant and Equipment.

3. Details of the Revaluation Surpluses arising from the Revaluation

4. Effect on the Net Assets Per Share

Based on the Company's unaudited consolidated financial statements for the financial quarter ended 30 April 2026, the revaluation surpluses of RM29,340,651 (net of deferred tax) has resulted in an increase of net assets per share of the Group by 2.58 sen to 59.97 sen as at 30 April 2026.

5. Documents Available for Inspection

The valuation reports of the Freehold Land are available for inspection at the Registered Office of the Company located at 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, 46200 Petaling Jaya, Selangor Darul Ehsan, Malaysia during normal office hours from Monday to Friday (except for Public Holidays) for a period of three (3) months from the date of this Announcement.

This Announcement is dated 11 June 2026.