The Board of Directors of IPB ("Board") wishes to announce that the Company had on 9 October 2026 received a notice in writing dated 9 October 2026 ("Notice") from Messrs. Ernst & Young PLT (202006000003 (LLP0022760-LCA) & AF 0039) ("EY") on their resignation as External Auditors of the Company and its subsidiaries, namely IPB Bio Energy Sdn. Bhd. and Serijaya Industri Sdn. Bhd. The Notice was given pursuant to Section 281(1) of the Companies Act 2016 ("the Act").

Pursuant to Section 281(2) of the Act, EY's term of office as External Auditors will end upon the expiry of twenty-one (21) days from the date of the Notice, i.e. on 30 October 2026.

The resignation of EY follows a request by the Board to introduce a periodic rotation of external auditors. The Board made this request in line with good corporate governance practice and to obtain a fresh perspective on the Group's financial reporting and audit process. The resignation is not due to any disagreement between EY and the Board or management of the Company.

The Board wishes to record its appreciation to EY for their services and contributions throughout their tenure as External Auditors of the Company.

Save as disclosed above, the Board is not aware of any other matters relating to the resignation of EY that need to be brought to the attention of the shareholders of the Company.

The Board will take the necessary steps to appoint new External Auditors to fill the casual vacancy pursuant to Section 271(2)(b) of the Act for the financial year ending 31 December 2026. A further announcement will be made to Bursa Malaysia Securities Berhad upon the appointment of the new External Auditors.

This announcement is dated 9 October 2026