2Q 2025 Financial Report (Bursa Announcement)

‌The Board of Directors of PETRONAS Chemicals Group Berhad ("PCG" or the "Company") hereby announce the following unaudited condensed consolidated financial statements for the quarter ended 30 June 2025 which should be read in conjunction with the accompanying explanatory notes on pages 8 to 24.

‌ UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Individual quarter ended

30 June

Cumulative quarter ended

30 June

The unaudited condensed consolidated statement of profit or loss should be read in conjunction with the accompanying explanatory notes attached to these condensed consolidated financial statements.

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME

Total other comprehensive (loss)/income attributable to:

The unaudited condensed consolidated statement of other comprehensive income should be read in conjunction with the accompanying explanatory notes attached to these condensed consolidated financial statements.

‌ UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Net assets per share attributable to shareholders of the

Company (RM) 4.73 4.82

The unaudited condensed consolidated statement of financial position should be read in conjunction with the accompanying explanatory

‌ UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Attributable to shareholders of the Company Non-distributable

continue to next page

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (continued)

Attributable to shareholders of the Company

continued from previous page

‌ UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

Cumulative quarter ended

30 June

continue to next page

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (continued)

Cumulative quarter ended

30 June

continued from previous page

The unaudited condensed consolidated statement of cash flows should be read in conjunction with the accompanying explanatory notes attached to these condensed consolidated financial statements.

‌ PART A - EXPLANATORY NOTES PURSUANT TO MFRS 134

‌A1. BASIS OF PREPARATION

The condensed consolidated financial statements are unaudited and have been prepared in accordance with IAS 34, MFRS 134 Interim Financial Reporting and paragraph 9.22 of Bursa Malaysia Securities Berhad's Main Market Listing Requirements. They should also be read in conjunction with the audited financial statements of the Group for the year ended 31 December 2024. The explanatory notes attached to the condensed consolidated financial statements provide an explanation of events and transactions that are significant to an understanding of the changes in the financial position and performance of the Group since the year ended 31 December 2024.

Within the context of these unaudited condensed consolidated financial statements, the Group comprises the Company, its subsidiaries and a joint operation, as well as the Group's interest in associates and joint ventures as at and for the quarter ended 30 June 2025.

‌A2. ADOPTION OF REVISED PRONOUNCEMENTS AND SIGNIFICANT ACCOUNTING POLICIES

Except as described below, the same accounting policies and methods of computation are followed in the condensed consolidated financial statements as compared with the audited consolidated financial statements for the year ended 31 December 2024.

During the period, the Group has adopted the following Amendments to MFRS ("pronouncement") that has been issued by the Malaysian Accounting Standards Board ("MASB").

Effective for annual periods beginning on or after 1 January 2025

Amendments to MFRS 121 The Effects of Changes in Foreign Exchange Rates (Lack of Exchangeability)

The initial application of the above pronouncement did not have any material impact to the consolidated financial statements of the Group.

‌A3. AUDIT REPORT OF PRECEDING ANNUAL FINANCIAL STATEMENTS

The audited financial statements of PCG and its subsidiaries for the year ended 31 December 2024 were not subject to any audit qualification.

‌ PART A - EXPLANATORY NOTES PURSUANT TO MFRS 134 (continued)

A4. SEASONALITY OR CYCLICALITY OF OPERATIONS

The prices of petrochemical products and their underlying feedstock are subject to significant fluctuations as they are influenced both by global supply and demand as well as movements in the prices of key commodities such as crude oil and natural gas. Consequently, margins have historically been cyclical and are sensitive to supply and demand imbalances both domestically and internationally. Supply is affected by significant capacity expansions by producers, and if such additions are not matched by corresponding growth in demand, which is generally linked to the level of economic activity, average industry operating margins will face downward pressures. As a result, the petrochemical cycle is characterised by years of tight supply, leading to high capacity utilisation rates and margins, followed by years of oversupply, primarily resulting from significant capacity additions, leading to reduced capacity utilisation rates and margins. Specialties segment generally experience less cyclicality due to the higher customised requirements of the products and more barriers for substitution.

‌A5. EXCEPTIONAL ITEMS

There were no exceptional items during the period under review.

‌A6. MATERIAL CHANGES IN ESTIMATES

There were no material changes in estimates of the amounts reported in the most recent annual financial statements of PCG and its subsidiaries for the year ended 31 December 2024 that may have a material effect in the results of the period under review.

‌A7. DEBT AND EQUITY SECURITIES

There were no material issuances, cancellations, repurchases, resale and repayments of debt and equity securities for the period under review, other than as disclosed in note B8.

‌A8. DIVIDENDS PAID

During the period under review, the Company paid a second interim single tier dividend of 3 sen per ordinary share, amounting to RM240 million in respect of the financial year ended 31 December 2024 to shareholders on 20 March 2025.

‌A9. OPERATING SEGMENTS

The Group reportable segments comprise Olefins and Derivatives, Fertilisers and Methanol, Specialties and Others. The strategic business units offer different products and services, and are managed separately because they require different technology and marketing strategies. The following summary describes the operations in each of the Group's reportable segments:

• Olefins and Derivatives - activities include manufacturing and marketing of a wide range of olefin and polymer products, which are used as basic feedstock for other products, to intermediate products including basic and high performance chemicals.

• Fertilisers and Methanol - activities include manufacturing and marketing of methanol and a range of nitrogen, phosphate and compound fertilisers.

• Specialties - activities include manufacturing and marketing of advanced chemicals & solutions, animal nutrition, silicones and lube oil additives & chemicals.

• Others - other non reportable segments comprise operations related to investment holding and port services which provide product distribution infrastructure to the Group.

PART A - EXPLANATORY NOTES PURSUANT TO MFRS 134 (continued)

A9. OPERATING SEGMENTS (continued)

Cumulative quarter ended

30 June

During the period, the Group's investment holding company has provided for depreciation & amortisation of the tangible & intangible assets impact amounting to RM120 million (2024: RM125 million) arising from finalisation of the purchase price allocation for the acquisition of Perstorp in 2022 and has also recorded an unrealised foreign exchange loss on revaluation of shareholders loan to a joint operation entity amounting to RM194 million as compared to unrealised foreign exchange gain of RM93 million during the corresponding period, in which both have been included in Others.

‌A10. VALUATIONS OF PROPERTY, PLANT AND EQUIPMENT

There were no revaluations of property, plant and equipment for the period under review. As at 30 June 2025, all property, plant and equipment other than freehold land and projects-in-progress were stated at cost less accumulated depreciation and impairment losses. Freehold land and projects-in-progress were stated at cost less accumulated impairment losses, if any.

‌A11. CONTINGENCIES

There were no material contingent liabilities or contingent assets since the last audited consolidated financial statements for the year ended 31 December 2024.

‌A12. CHANGES IN COMPOSITION OF THE GROUP

There were no material changes in the composition of the Group for the period under review.

1Included within profit for the period for Olefins and Derivatives, Fertilisers and Methanol, Specialties and Others segments are depreciation and amortisation expenses amounting to RM427 million (2024: RM267 million), RM476 million (2024: RM494 million), RM183 million (2024: RM162 million) and RM133 million (2024: RM138 million) respectively.

2Includes profit/(loss) from non-reportable segments and unallocated assets.

‌ PART A - EXPLANATORY NOTES PURSUANT TO MFRS 134 (continued)

A13. CAPITAL COMMITMENTS

Capital expenditures which have not been provided for at the end of each reporting period are as follows:

The Group via its subsidiary has entered into an arrangement on trade receivable which resulted in adjustment of timing for payments of the balances. The receivable was fair valued on initial measurement and is subjected to periodic accretion of interest income over the period of the arrangement.

Included in other receivables and prepayments is consideration on a deferred payment arrangement in relation to a partial divestment of a subsidiary in 2023.

‌ PART A - EXPLANATORY NOTES PURSUANT TO MFRS 134 (continued)

The Group and the Company via its joint operation entity has arrangements on trade payables amounting to RM1,566 million (2024: RM1,651 million), which resulted in an adjustment of timing for payments of the balances. The trade payables were fair valued on initial measurement and is subjected to periodic accretion of interest expense over the period of the arrangement. During the period, the joint operation entity has remeasured these balances based on the revised timing for payments, which resulted in remeasurement loss amounting to RM128 million (2024: remeasurement gain of RM553 million) being recognised in the profit or loss.

‌A17. FAIR VALUE INFORMATION

The carrying amounts of cash and cash equivalents, short terms receivables and payables reasonably approximate their fair values due to the relatively short-term nature of these financial instruments.

When measuring the fair value of an asset or a liability, the Group uses observable market data as far as possible. Fair values are categorised into different levels in a fair value hierarchy based on the input used in the valuation technique as follows:

• Level 1 - Quoted prices (unadjusted) in active markets for identifiable assets or liabilities.

• Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

• Level 3 - Inputs for the asset or liability that are not based on observable market data (unobservable input).

The Group recognises transfers between levels of fair value hierarchy as of the date of the event or change in circumstances that caused the transfers.

Forward foreign exchange contracts

The fair value of forward foreign exchange contracts is based on the difference between the contracted forward rates and the mark-to-market rates. If a quoted market price is not available, then fair value is estimated by discounting the difference between the contractual forward price and the current forward price for the residual maturity of the contract.

The following table analyses financial instruments carried at fair value shown in the statement of financial position.

PART A - EXPLANATORY NOTES PURSUANT TO MFRS 134 (continued)

‌ PART B - OTHER EXPLANATORY NOTES

‌B1. REVIEW OF GROUP PERFORMANCE‌

(a) Performance of the current quarter against the corresponding quarter

Individual quarter ended

30 June

PCG Group recorded lower plant utilisation rate of 77% as compared to 89% in the corresponding quarter due to feedstock supply disruption at PC Fertiliser Kedah as well as higher plant repair and maintenance activities during the quarter resulting in lower production volume.

Revenue was lower by RM1.3 billion or 17% at RM6.4 billion mainly due to lower sales volume, strengthening of Ringgit Malaysia against US Dollar and lower product prices.

EBITDA was lower by RM715 million or 64% at RM395 million mainly contributed by lower product spreads and lower contribution from a joint operation entity due to higher unrealised foreign exchange loss on revaluation of payables, partially offset by lower plant operation costs.

The Group recorded loss after tax of RM1.0 billion as compared to a profit after tax of RM809 million in the corresponding quarter. This was mainly due to lower EBITDA, remeasurement loss arising from adjustment of timing for payment of trade payables, impairment of assets at Perstorp, higher unrealised foreign exchange loss on revaluation of shareholders loan to a joint operation entity as well as higher depreciation and finance costs from a joint operation entity.

Olefins and Derivatives

The segment's operational performance recorded lower plant utilisation rate of 86% as compared to 94% in the corresponding quarter mainly due to higher plant repair and maintenance activities during the quarter resulting in lower production and sales volumes.

Revenue was lower by RM1.1 billion or 30% at RM2.6 billion, primarily attributed to lower product prices, lower sales volume and strengthening of Ringgit Malaysia against US Dollar.

EBITDA was lower by RM581 million mainly due to lower product spreads and lower contribution from a joint operation entity due to higher unrealised foreign exchange loss on revaluation of payables, partially offset by lower plant operation costs.

The segment recorded loss after tax of RM671 million as compared to profit after tax of RM458 million in the corresponding quarter. This was mainly contributed by lower EBITDA, remeasurement loss arising from adjustment of timing for payment of trade payables as well as higher depreciation and finance costs from a joint operation entity.

3EBITDA refers to earnings before interest, taxation, depreciation and amortisation, share of profit after tax of equity accounted associates and joint ventures and other significant non-cash items.

PART B - OTHER EXPLANATORY NOTES (continued)

B1. REVIEW OF GROUP PERFORMANCE (continued)

(a) Performance of the current quarter against the corresponding quarter (continued)

Fertilisers and Methanol

The segment recorded lower plant utilisation rate of 73% as compared to 86% in the corresponding quarter mainly due to feedstock supply disruption at PC Fertiliser Kedah as well as higher plant repair and maintenance activities during the quarter resulting in lower production volume.

The segment recorded higher revenue by RM137 million or 6% at RM2.3 billion, primarily driven by higher product prices, partially offset by strengthening of Ringgit Malaysia against US Dollar.

EBITDA, however, was lower by RM164 million or 23% at RM556 million mainly due to lower product spreads. Profit after tax was lower by RM152 million or 33% at RM307 million in line with lower EBITDA.

Specialties

The segment's revenue was lower by RM305 million or 17% at RM1.5 billion primarily driven by lower sales volume.

EBITDA was higher by RM33 million or 28% at RM153 million mainly due to other income arising from sale of emission rights. The segment recorded loss after tax of RM302 million as compared to profit after tax of RM59 million in corresponding quarter mainly contributed by impairment of assets at Perstorp.

‌(b) Performance of the current period against the corresponding period

Cumulative quarter ended

30 June

PCG Group recorded lower plant utilisation rate of 86% as compared to 88% in the corresponding period mainly due to utilities supply disruption in Kertih, feedstock supply disruption at PC Fertiliser Kedah as well as higher plant repair and maintenance activities during the current period, resulting in lower production volume.

Revenue was lower by RM1.1 billion or 7% at RM14.1 billion largely due to strengthening of Ringgit Malaysia against US Dollar and lower product prices.

EBITDA was lower by RM983 million or 43% at RM1.3 billion mainly due to lower product spreads and lower contribution from a joint operation entity due to unrealised foreign exchange loss on revaluation of payables.

The Group recorded loss after tax of RM1.0 billion as compared to profit after tax of RM1.5 billion in the corresponding period. This was mainly attributed by lower EBITDA, remeasurement loss arising from adjustment of timing for payment of trade payables, impairment of assets at Perstorp, unrealised foreign exchange loss on revaluation of shareholders loan to a joint operation entity, higher depreciation and finance costs from a joint operation entity as well as unfavourable net foreign exchange impact from Specialties segment.

4EBITDA refers to earnings before interest, taxation, depreciation and amortisation, share of profit after tax of equity accounted associates and joint ventures and other significant non-cash items.

PART B - OTHER EXPLANATORY NOTES (continued)

B1. REVIEW OF GROUP PERFORMANCE (continued)

(b) Performance of the current period against the corresponding period (continued) Olefins and Derivatives

The segment recorded lower plant utilisation rate of 86% as compared to 91% in the corresponding period mainly due to utilities supply disruption in Kertih as well as higher plant repair and maintenance activities during the period, resulting in lower production and sales volumes.

Revenue was lower by RM1.4 billion or 18% at RM6.2 billion primarily driven by lower product prices, strengthening of Ringgit Malaysia against US Dollar and lower sales volume.

EBITDA was lower by RM1 billion mainly contributed by lower product spreads and lower contribution from a joint operation entity due to unrealised foreign exchange loss on revaluation of payables.

The segment recorded loss after tax of RM1 billion as compared to profit after tax of RM696 million in the corresponding period. This was mainly due to lower EBITDA, remeasurement loss arising from adjustment of timing for payment of trade payables and higher depreciation and finance costs from a joint operation entity.

Fertilisers and Methanol

The segment's operational performance recorded comparable plant utilisation rate of 85% due to feedstock supply disruption at PC Fertiliser Kedah in current period in comparison to statutory plant turnaround and maintenance activities undertaken in the corresponding period.

The segment recorded higher revenue by RM642 million or 16% at RM4.8 billion mainly due to higher product prices and sales volume, partially offset by strengthening of Ringgit Malaysia against US Dollar.

EBITDA and profit after tax were comparable at RM1.4 billion and RM934 million respectively.

Specialties

The segment's revenue was lower by RM414 million or 12% at RM3.1 billion mainly due to lower sales volume.

EBITDA was lower by RM33 million or 14% at RM205 million driven by lower contribution margins. The segment recorded loss after tax of RM444 million as compared to profit after tax in the corresponding period of RM130 million in line with lower EBITDA, impairment of assets at Perstorp and unfavourable net foreign exchange impact.

PART B - OTHER EXPLANATORY NOTES (continued)

B1. REVIEW OF GROUP PERFORMANCE (continued)

‌(c) Variation of results against the preceding quarter

Individual quarter ended

PCG Group recorded lower plant utilisation rate of 77% as compared to 94% in preceding quarter resulting from feedstock supply disruption at PC Fertiliser Kedah as well as higher plant repair and maintenance activities resulting in lower production and sales volumes.

Revenue was lower by RM1.2 billion or 16% at RM6.4 billion mainly due to lower sales volume, lower revenue contribution from a joint operation entity, lower product prices and strengthening of Ringgit Malaysia against US Dollar.

EBITDA was lower by RM497 million or 56% at RM395 million mainly due to lower product spreads and lower contribution from a joint operation entity due to higher unrealised foreign exchange loss on revaluation of payables.

Loss after tax was at RM1.0 billion as compared to profit after tax of RM18 million in the preceding quarter mainly due to lower EBITDA, impairment of assets at Perstorp, higher unrealised foreign exchange loss on revaluation of shareholders loan to a joint operation entity and remeasurement loss arising from adjustment of timing for payment of trade payables.

The Group's total assets were lower by RM1.2 billion or 2% at RM58.8 billion mainly due to lower property, plant and equipment following impairment of assets and strengthening of Ringgit Malaysia against US Dollar, partially offset by higher intangible assets following weakening of Ringgit Malaysia against Euro and Swedish Krona.

5EBITDA refers to earnings before interest, taxation, depreciation and amortisation, share of profit after tax of equity accounted associates and joint ventures and other significant non-cash items.

‌ PART B - OTHER EXPLANATORY NOTES (continued)

B1. REVIEW OF GROUP PERFORMANCE (continued)

1. Highlight on consolidated statement of cash flows

   Cumulative quarter ended

   30 June

   In RM Mil	2025	2024
   Net cash generated from operating activities	1,300	1,648
   Net cash used in investing activities	(1,059)	(1,215)
   Net cash used in financing activities	(160)	(310)
   Net cash generated from operating activities was lower by RM348 million or 21% at movement in working capital.	RM1.3 billion in	line with

   Net cash used in investing activities for the period was lower by RM156 million or 13% at RM1.1 billion as compared to corresponding period primarily due to lower purchase of property, plant and equipment.

   Net cash used in financing activities for the period was lower by RM150 million or 48% at RM160 million as compared to corresponding period mainly due to lower dividend payment to shareholders.

   ‌B2. COMMENTARY ON PROSPECTS

   The results of the Group's operations are primarily influenced by global economic conditions, petrochemical products prices which have a high correlation to crude oil price, particularly for the Olefins and Derivatives segment, utilisation rate of our production facilities and foreign exchange rate movements.

   The utilisation of our production facilities is dependent on plant maintenance activities and sufficient availability of feedstock as well as utilities supply. The Group will continue with its operational excellence programme and supplier relationship management to sustain plant utilisation level at above industry benchmark.

   The Group anticipates product prices for olefins and derivatives to be soft amidst balanced supply and slightly improving sentiment on favourable tariff outlook. Fertiliser and methanol product prices are forecasted to be firm supported by urea demand for planting season and sufficient methanol supply amidst completion of maintenance activities in Southeast Asia. For specialties, the Group remains cautious in navigating the challenging market conditions, as we anticipate demand uncertainty to persist across most of our end markets.

   ‌B3. PROFIT FORECAST OR PROFIT GUARANTEE

   The Group does not publish any profit forecast or profit guarantee.

   ‌ PART B - OTHER EXPLANATORY NOTES (continued)

   B4. OPERATING (LOSS)/PROFIT

   Individual quarter ended

   30 June

   Cumulative quarter ended

   30 June

   In RM Mil	2025		2024		2025		2024
   Included in (loss)/profit for the period are the following charges:
   Depreciation and amortisation	608	529		1,219		1,061
   Finance expense	128	-		128		-
   Impairment losses on property, plant and
   equipment	431	-		431		-
   Inventories:
   - write-down to net realisable value	99	-		4		14
   - written off	22	-		22		-
   Net loss on foreign exchange	446	62		638		-
   Write off of investment in a joint venture	-	-		-		24
   and credits:
   Interest income	87	94		174		184
   Finance income	-	353		-		353
   Reversal of write-down of inventory to net
   realisable value	-	41		-		-
   Amortisation of deferred income	22	22		44		44
   Net gain on foreign exchange	-	-		-		206

   Other disclosure items pursuant to Appendix 9B Note 16 of the Listing Requirements of Bursa Malaysia Securities Berhad are not applicable.

   During the quarter, the Group recognised impairment losses on property, plant and equipment within its Specialties segment amounting to RM431 million following lower recoverable amount as compared with its carrying amount resulting from higher operating costs.

   Foreign exchange exposure / hedging policy

   The Group is exposed to varying levels of foreign exchange risk when they enter into transactions that are not denominated in the respective companies' functional currencies and when foreign currency monetary assets & liabilities are retranslated at the reporting date. The main underlying economic currencies of the Group's cash flows are Ringgit Malaysia and US Dollar.

   The Group's foreign exchange management policies aim to minimise transactional exposure arising from currency movements. The Group mainly relies on the natural hedge arising from most of its revenue and expenses being denominated in US Dollar. In addition, the Group, where applicable, hedge using derivative instruments in respect of current and forecasted transactions.

   ‌ PART B - OTHER EXPLANATORY NOTES (continued)

   B5. TAX EXPENSE

   In RM Mil

   Current tax expenses

   Current period tax

   Individual quarter ended

   2025		2024		2025		2024
   55		92		122		137
   55		92		122		137

   30 June

   Cumulative quarter ended

   30 June

   Deferred tax expenses

   (56)		39		(54)		96
   (56)		39		(54)		96
   (1)		131		68		233

   Origination and reversal of temporary differences

   The Group's effective tax rates for the individual and cumulative quarter ended 30 June 2025 are 0.1% and -7% respectively which, are reflective of the various tax legislation within which the Group operates including among others Malaysia Income Tax Act 1967 and Global Incentive for Trading (GIFT) under Labuan Financial Services and Securities Act 2010.

   The lower effective tax rate for the individual quarter ended 30 June 2025 against the Malaysian income tax rate of 24% due to loss before tax for the quarter partially offset by higher non-deductible expenses in relation to impairment of assets and unrealised foreign exchange losses. Cumulative quarter's effective tax rate was lower than Malaysian income tax rate of 24% due to lower tax rate benefitted from GIFT incentive.

   ‌B6. STATUS OF CORPORATE PROPOSALS

   There were no new corporate proposals during the period under review since the last audited consolidated financial statements for the year ended 31 December 2024.

   ‌ PART B - OTHER EXPLANATORY NOTES (continued)

   B7.	TRADE AND OTHER RECEIVABLES
   	(a) Details of Group trade and other receivables
   	In RM Mil	As at 30 June 2025		As at 31 December 2024
   	Trade receivables:
   	- Third party	2,548		3,011
   	- Associates and joint ventures	68		127
   	- Related companies	159		149
   	Other receivables	1,218		1,418
   	Total	3,993		4,705

   Average credit term for trade receivables granted to related parties and non-related parties is 51 days.

   (b) Ageing analysis of trade receivables
   In RM Mil	As at 30 June 2025		As at 31 December 2024
   Current	2,649		3,168
   Past due 1 to 30 days	126		122
   Past due 31 to 60 days	10		7
   Past due more than 60 days	5		6
   Total	2,790		3,303

   With respect to the Group's trade receivables, there are no indications as of the reporting date that the debtors will not meet their payment obligations.

   ‌ PART B - OTHER EXPLANATORY NOTES (continued) B8. BORROWINGS

   In denominated currency In presentation currency

   Non-current

   Denominated currency

   As at 30 June

   2025

   Mil

   As at 31 December

   2024

   Mil

   As at 30 June

   2025

   RM Mil

   As at 31 December

   2024

   RM Mil

   Term loans - secured	USD	298		313		1,262		1,396
   Term loan - unsecured	USD	167		165		707		736
   Term loans - unsecured	EUR	31		1		151		4
   Revolving credit - unsecured	SEK	-		700		-		283
   						2,120		2,419
   Current
   Term loans - secured	USD	31		30		130		134
   Term loans - unsecured	CNY	10		20		6		13
   Term loans - unsecured	EUR	1		31		4		143
   Revolving credit - unsecured	SEK	2,325		800		1,036		323
   Revolving credit - unsecured	USD	38		38		160		168
   Revolving credit - unsecured	EUR	2		2		8		9
   Bank overdraft - unsecured	SEK	-		14		-		5
   						1,344		795

   The USD secured term loans relate to 50% share of project financing facility of a joint operation entity. The loans bear interest margin above 6-month USD SOFR ranging from 0.80% to 1.74% per annum and is repayable on various dates between 2021 and 2034.

   The term loans are secured in the following manner:

   1. Completion guarantee from the ultimate holding company, which is a fully recourse guarantee to the Company, where the ultimate holding company guarantee on several and not joint basis which will be uplifted and terminated upon meeting all project completion requirements;

   2. Cross-guarantee arrangement under an integrated borrowing structure due to the nature of the project with a related party; and

   3. Charge over ordinary shares and the land lease rights of the said joint operation entity.

      The Guaranteed Project Completion Date ("PCD") was extended from 31 December 2023 to 31 December 2025.

      The USD unsecured term loan is pursuant to the co-borrowing agreement between the joint operation entity and a related party under an integrated borrowing structure. The loan which bears nil interest was fair valued as a Level 3 fair value on initial recognition with an effective interest rate ranging from 2.33% to 4.18% per annum and is repayable between 2027 to 2029.

      There are two EUR unsecured term loans which bear interest margin above EURIBOR of 0.85% per annum and interest margin above EURIBOR of 1.15% per annum respectively. These loans are repayable on various dates between 2027 and 2030 respectively.

      The CNY unsecured term loan bears interest rate of 2.60% per annum.

      The SEK unsecured revolving credits bear interests ranging from 3.08% to 3.34% per annum. The USD unsecured revolving credits bear interests ranging from 4.93% to 5.35% per annum. The EUR unsecured revolving credit bears interest rate of 2.99% per annum.

      ‌ PART B - OTHER EXPLANATORY NOTES (continued)

      B9. DERIVATIVE FINANCIAL INSTRUMENTS

      There were no changes to the Group's derivative financial instruments since the last audited consolidated financial statements for the year ended 31 December 2024, other than as disclosed in note A17.

      ‌B10. FAIR VALUE CHANGES OF FINANCIAL LIABILITIES

      The Group does not have any financial liabilities that are measured at fair value (other than derivative financial instruments) for the period under review.

      ‌B11. MATERIAL LITIGATION

      There was no pending material litigation since the last audited consolidated financial statements for the year ended 31 December 2024.

      ‌B12. DIVIDENDS

      The Directors of the Company have declared first interim single tier dividend of 3 sen per ordinary share, amounting to RM240 million in respect of the financial year ending 31 December 2025 (2024: first interim single tier dividend of 10 sen per ordinary share, amounting to RM800 million in respect of the financial year ended 31 December 2024).

      The dividend is payable on 10 September 2025 to depositors registered in the Records of Depositors at the close of business on 27 August 2025.

      A Depositor shall qualify for entitlement to the dividends only in respect of:

      1. Shares transferred into the Depositor's Securities Account before 4.00 pm on 27 August 2025 in respect of ordinary transfers.

      2. Shares bought on the Bursa Malaysia Securities Berhad on a cum entitlement basis according to the rules of the Bursa Malaysia Securities Berhad.

‌B13. BASIC (LOSS)/EARNINGS PER SHARE

Basic (loss)/earnings per share is derived based on the profit attributable to shareholders of the Company and number of ordinary shares of the Company.

Individual quarter ended

30 June

Cumulative quarter ended

30 June

As at the date of the statement of financial position, the Company does not have any instruments which may have a dilutive impact on the basic earnings per share.

‌ PART B - OTHER EXPLANATORY NOTES (continued)

Azira Marini Binti Ab Rahim (SSM Practising Certificate No. 201908001107) Mek Yam @ Mariam Hassan (SSM Practising Certificate No. 201908000788) Company Secretaries

Kuala Lumpur 13 August 2025