PUC BERHAD — M&A Activity 2026

May 20, 2026

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS PUC BERHAD ("PUC") ACQUISITION OF 100% EQUITY INTEREST IN GENIEX LAB SDN. BHD. BY G UNIVERSE SDN. BHD., SUBSIDIARY OF PUC BERHAD

PUC BERHAD

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description	PUC BERHAD ("PUC") ACQUISITION OF 100% EQUITY INTEREST IN GENIEX LAB SDN. BHD. BY G UNIVERSE SDN. BHD., SUBSIDIARY OF PUC BERHAD
Reference is made to the Company's announcement dated 20 May 2026 in relation to the Proposed Acquisition ("Announcement"). Unless otherwise stated, all definitions used herein shall have the same meanings as defined in the Announcement. The Board of Directors of PUC wishes to announce the following additional information:- 1. BASIS AND JUSTIFICATION FOR ARRIVING AT THE PURCHASE CONSIDERATION The Purchase Consideration of RM1,000,000 was arrived at on a willing-buyer willing-seller basis after taking into consideration, among others, the Company's intended business direction, strategic fit within PUC Group's financial technology ecosystem, business prospects and future growth potential. In arriving at the Purchase Consideration, the Board had also taken into consideration the Company's ongoing and proposed fundraising exercise involving third-party investors, whereby the subscription amounts proposed to be invested by such investors were negotiated based on an implied post-money valuation of approximately RM5.0 million for the Company. Following the completion of the proposed third-party subscription exercise, G Universe's equity interest in the Company is expected to be diluted from 100% to approximately 33%. Based on the implied post-money valuation of RM5.0 million, the effective value attributable to a 33% equity interest in the Company would be approximately RM1.65 million. Accordingly, the Purchase Consideration of RM1.0 million represents an effective entry at a discount relative to the implied valuation arising from the proposed third-party subscription exercise. The Board (save for the interested director, namely Mr. Cheong), after having considered the above and all other relevant qualitative and quantitative factors, is of the opinion that the Purchase Consideration is fair and reasonable and in the best interest of PUC.   2. ESTIMATED TIMEFRAME FOR COMPLETION Barring any unforeseen circumstances, the Proposed Acquisition is expected to be completed by the second quarter of 2026. 3. PERCENTAGE RATIO The highest percentage ratio applicable to the Proposed Acquisition pursuant to Rule 10.02(g) of the ACE Market Listing Requirements should be approximately 1.85% instead of 1.64%. This announcement is dated 21 May 2026.

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Announcement Info

Company Name	PUC BERHAD
Stock Name	PUC
Date Announced	21 May 2026
Category	General Announcement for PLC
Reference Number	GA1-21052026-00059