Further to the article published by The Business Times on "IOI Properties and CapitaLand Investment closer to acquiring One Raffles Place in joint bid", the Board of Directors of IOIPG wishes to announce that a wholly-owned subsidiary of IOIPG and an investment entity managed by CapitaLand Investment Limited ("CLI") (collectively, "Purchasers") have jointly submitted an expression of interest to acquire a 100% interest in One Raffles Place, located at 1 Raffles Place, Singapore ("Property"), on a 50:50 basis ("Proposed Transaction").

Based on the information made available to IOIPG to date, the Property is an integrated commercial development comprising:-

(a) Tower 1: A 62-storey office building with rooftop retail, completed in 1986, with a tenure of 841 years commencing on 1 November 1985;

(b) Tower 2: A 38-storey office building with ancillary retail and one basement level, completed in 2012, with a tenure of 99 years commencing on 26 May 1983; and

(c) Retail podium: A five-storey retail podium with one basement level, completed in 1986, the majority of which is situated on land with a tenure of 99 years commencing on 1 November 1985.

The Purchasers are progressing due diligence and exclusive discussions with the vendors with a view to agreeing mutually acceptable terms for the Proposed Transaction.

The Purchasers and the vendors are currently working collaboratively and in good faith, using reasonable commercial efforts to agree on the terms of the definitive agreements and related transaction and completion documents, subject to the satisfactory completion of the Purchasers' due diligence during the exclusivity period.

The Company will keep shareholders informed of the progress of the Proposed Transaction and will make further announcements to Bursa Malaysia Securities Berhad as and when there are material developments, including the execution of any definitive agreements. Relevant details of the Proposed Transaction, together with any requisite approvals, will be disclosed at the appropriate stage in accordance with the Main Market Listing Requirements.

This announcement is dated 12 October 2026.