On behalf of the board of directors of OHB, CIMB Investment Bank Berhad (“CIMB”) wishes to announce that on 7 November 2025:

(i)  OHB had entered into a conditional share subscription agreement with Boon Siew Sdn Berhad (“BSSB”) and Northam Georgetown Sdn Bhd (“NGSB”) (“Share Subscription Agreement”) for the proposed subscription of 153,100,000 ordinary shares in NGSB (“Subscription Shares”) for a cash subscription price of RM153.10 million (“Subscription Price”). Upon completion of the Share Subscription Agreement, OHB shall be the legal and beneficial owner of 96.84% equity interest in NGSB. Following the completion of the Share Subscription Agreement, OHB and BSSB shall enter into a share sale agreement, the agreed form of which is appended to the Share Subscription Agreement (“SSA”), for the proposed acquisition of the remaining 3.16% equity interest in NGSB comprising 5,000,002 ordinary shares in NGSB (“NGSB Sale Shares”) for a purchase consideration of RM13.90 million in cash (“OS Consideration”).

Upon completion of the Share Subscription Agreement and the SSA, OHB shall be the legal and beneficial owner of 100% equity interest in NGSB, which owns an operational 4-star rated 365-room resort hotel and 3-storey lodge building along with other supporting amenities and facilities attached thereto identified as Bayview Beach Resort Penang (“Bayview Beach Resort Penang”) located at Batu Ferringgi, Pulau Pinang. For the avoidance of doubt, the Subscription Price and the OS Consideration shall amount to RM167.00 million and shall hereinafter be referred to as the “Purchase Consideration 1” (“Proposed NGSB Share Acquisition”);

(ii)  Farquhar Properties Sdn Bhd (“FPSB”), a wholly-owned subsidiary of OHB, had entered into a conditional sale and purchase agreement with BSSB (“SPA 1”) for the proposed acquisition of an operational 4-star rated 340-room hotel along with other supporting amenities and facilities attached thereto identified as Bayview Hotel Georgetown (“Bayview Hotel Georgetown”) and a 15-storey building comprising an office tower, 2 showrooms and car parking bays identified as Wisma Boon Siew (“Wisma Boon Siew”) located at George Town, Pulau Pinang, for a purchase consideration of RM153.00 million in cash (“Purchase Consideration 2”) (“Proposed Georgetown Acquisition”); and

(iii)  Northam Langkawi Sdn Bhd (“NLSB”), a wholly-owned subsidiary of OHB, had entered into a conditional sale and purchase agreement with Boon Siew Development Sdn Bhd (“BSDSB”) (“SPA 2”) for the proposed acquisition of an operational 4-star rated 282-room hotel along with other supporting amenities and facilities attached thereto identified as Bayview Hotel Langkawi (“Bayview Hotel Langkawi”) located at Langkawi, Kedah Darul Aman, for a purchase consideration of RM91.00 million in cash (“Purchase Consideration 3”) (“Proposed Langkawi Hotel Acquisition”).

The total purchase consideration in respect of the Proposals amounts to RM411.00 million comprising Purchase Consideration 1, Purchase Consideration 2 and Purchase Consideration 3 (“Total Purchase Consideration”).

Further details of the Proposals are set out in the attachment below.

This announcement is dated 7 November 2025.