CITAGLOBAL BERHAD — Capital/Financing Update 2026

Jun 3, 2026

PRESS RELEASE

FOR IMMEDIATE RELEASE

CITAGLOBAL Empowering The Future

Citaglobal Secures Shareholders' Approval for RM42.1 Million Placement and Citaglobal Tower JV

Approval provides mandate for the next stage of implementation, supporting capital flexibility and value unlocking from the Group's Jalan Tun Razak asset

• A RM42.1 million private placement to Berjaya Securities Sdn Bhd is expected to strengthen the Group's capital base and support existing funding requirements.
• The Citaglobal Tower joint venture along Jalan Tun Razak carries an estimated gross development value of approximately RM657 million and an estimated gain to the Group of approximately RM26.7 million, subject to fulfilment of conditions precedent.

Kuala Lumpur, 4 June 2026 – Citaglobal Berhad ("Citaglobal" or the "Group") has obtained shareholders' approval at its Extraordinary General Meeting (EGM) yesterday for two previously announced corporate proposals, providing the Board and Management mandate for the next stage of implementation.

The approved proposals include a private placement of 46,768,000 new ordinary shares to Berjaya Securities Sdn Bhd at a subscription price of RM0.90 per share, which is expected to raise gross proceeds of approximately RM42.1 million. The proceeds will support the Group's funding requirements, including the cash consideration relating to the completed Gebeng Land Acquisition, expansion and investment in existing businesses, including renewable energy and bioenergy initiatives, alongside working capital and placement-related expenses.

Concurrently, shareholders approved the proposed joint venture between Citaglobal Property Development Sdn Bhd, an indirect wholly-owned subsidiary of the Group, and Varia Crest Sdn Bhd, an indirect wholly-owned

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PRESS RELEASE

FOR IMMEDIATE RELEASE

CITAGLOBAL Empowering The Future

subsidiary of Varia Berhad. The mandate allows the Group to proceed with a mixed development on a 1.58-acre leasehold parcel along Jalan Tun Razak, to be known as the Citaglobal Tower Development.

With an estimated gross development value of approximately RM657 million, the development comprises a Grade A office tower, serviced apartments, commercial shop lots, and a multi-level podium parking facility.

Under the joint venture structure, Varia Crest will be responsible for the planning, development, construction, marketing, and funding of the development. In consideration of the land contribution, Citaglobal Property Development is entitled to a package estimated at approximately RM118.0 million, comprising cash, repayment by Varia Crest to BIMB in accordance with the land acquisition loan repayment schedule, office space entitlement and consideration in-kind, together with a potential profit uplift.

The Proposed JV is expected to generate an estimated gain of approximately RM26.7 million for the Group, subject to the fulfilment of the relevant conditions precedent.

"The approvals today give us the Board and Management mandate to move into the next stage of implementation," said Tan Sri Dato' Sri (Dr.) Mohamad Norza Zakaria, Executive Chairman and President of Citaglobal. "The placement supports our funding requirements and gives us greater flexibility, while the Citaglobal Tower joint venture allows us to unlock value from a prime Kuala Lumpur landholding in a disciplined manner."

"Subject to the fulfilment of the relevant conditions, the Proposed JV is expected to generate an estimated gain of approximately RM26.7 million for the Group. Just as importantly, it allows Citaglobal to retain a long-term commercial presence in the completed development through our office entitlement, while limiting our direct development funding exposure."

The development remains subject to the relevant regulatory and development approvals, and the Group will provide further updates as key milestones are achieved. Upon completion of the placement, the Group is expected to have greater capital flexibility to support the next stage of implementation for the approved proposals.

About Citaglobal Berhad

Citaglobal Berhad is a Bumiputera-controlled, public-listed infrastructure platform operating across the energy, environment, and connectivity sectors, aligned with Malaysia's national development priorities. The Group's core platforms include Civil Engineering and Construction (CEC Division), Green Energy Infrastructure and Power Generation (New Energy Division), Waste and Environmental Management (Environment Division), and Digital and Connectivity Infrastructure (Telecommunication Division). Citaglobal provides end-to-end project lifecycle capabilities, from design and engineering to implementation. With a forward-looking portfolio, the Group is strategically positioned to participate in Malaysia's energy transition, digital infrastructure expansion, and sustainable economic growth.

For more information about Citaglobal, visit https://citaglobal.my/

Issued by:

Corporate Communications Department, Citaglobal Berhad

Email: corporate.communication@citaglobal.my

Tel: +603-2773 8800