Selective capital reduction and repayment exercise for the ordinary shares in Boustead Heavy Industries Corporation Berhad ("BHIC") ("BHIC Shares") not owned by Boustead Holdings Berhad ("BHB"); and capital reduction and repayment exercises for the redeemable convertible preference shares ("RCPS") Class A in BHIC ("RCPS A") and Islamic RCPS Class A in BHIC ("RCPS-i A"), pursuant to Section 116 of the Companies Act 2016 ("Capital Reduction"). Pursuant to the Capital Reduction, all the shareholders of BHIC (other than BHB), the holder of RCPS A and holders of RCPS-i A, whose names appear in the Record of Depositors ("ROD") of BHIC, the register of members of RCPS A and the register of members of RCPS-i A respectively, as at the Entitlement Date (as set out below), will receive a cash consideration of RM0.48 for each BHIC Share, RCPS A and RCPS-i A held on the Entitlement Date.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted "Ex - Repayment" as from: 07 Aug 2026
2) The last date of lodgment : 10 Aug 2026
3) Date Payable : 20 Aug 2026

Remarks :

Under the Capital Reduction, all the shareholders of BHIC (other than BHB), the holder of RCPS A and the holders of RCPS-i A, whose names appear in the ROD of BHIC ("Entitled Shareholders"), the register of members of RCPS A ("Entitled RCPS A Holder") and the register of members of RCPS-i A ("Entitled RCPS-i A Holders"), on the Entitlement Date (as set out above), respectively, shall be entitled to receive a cash consideration of RM0.48 for each BHIC Share, RCPS A and RCPS-i A held by them on the Entitlement Date ("Offer Price"). (Entitled Shareholders, Entitled RCPS A Holder and Entitled RCPS-i A Holders are collectively referred to as "Entitled Holders").

An office copy of the sealed order granted by the High Court in Malaya dated 1 July 2026 confirming the reduction of the BHIC Shares, RCPS A and RCPS-i A under the Capital Reduction pursuant to Section 116 of the Companies Act 2016 ("Act") ("High Court Order") will be lodged with the Registrar of Companies pursuant to subsection 116(6) of the Act on the Entitlement Date. Consequently, the settlement of the Offer Price will be effected on Thursday, 20 August 2026.

The trading of BHIC Shares on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") will be suspended with effect from Friday, 7 August 2026 at 9:00 a.m., being one (1) market day prior to the Entitlement Date. Accordingly, the last date and time for trading of BHIC Shares on the Main Market of Bursa Securities prior to the suspension will be on Thursday, 6 August 2026 at 5:00 p.m.

Subsequent to the above, BHIC Shares will no longer be traded on the Main Market of Bursa Securities. For the avoidance of doubt, the trading of BHIC Shares on the Main Market of Bursa Securities will continue to be suspended until the delisting of BHIC from the Official List of Bursa Securities following the completion of the Capital Reduction.

The notice to BHIC's shareholders, holder of RCPS A and holders of RCPS-i A in relation to the suspension of trading of BHIC Shares on the Main Market of Bursa Securities and the Entitlement Date in relation to the Capital Reduction ("Notice") will be despatched to BHIC's shareholders on Monday, 27 July 2026. Kindly refer to the Notice for further details on the mode of settlement of the Offer Price for the Entitled Holders.

Any enquiries concerning this notice of book closure should be addressed to the share registrar of BHIC at the abovementioned contact details.

This announcement is dated 24 July 2026.