RADIUM DEVELOPMENT BERHAD — Interim / Quarterly Report 2026

May 20, 2026

RADIUM

BUILDING GOOD

RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

INTERIM FINANCIAL REPORT
FOR FIRST QUARTER ENDED 31 MARCH 2026

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RADIUM
BUILDING GOOD
RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH 2026

| | Note | Unaudited
As at
31.3.2026 | Audited
As at
31.12.2025 |
| --- | --- | --- | --- |
| | | RM'000 | RM'000 |
| ASSETS | | | |
| Non-Current Assets | | | |
| Property, plant and equipment | | 66,421 | 57,172 |
| Investment properties | | 5,628 | 6,391 |
| Right-of-use assets | | 1,001 | 1,273 |
| Inventories | | 598,418 | 586,475 |
| Goodwill | | 1,453 | 1,453 |
| Deferred tax assets | | 13,849 | 13,097 |
| Trade and other receivables | | 2,244 | 65,168 |
| | | 689,014 | 731,029 |
| Current Assets | | | |
| Inventories | | 441,557 | 351,002 |
| Current tax assets | | 2,351 | 7,649 |
| Trade and other receivables | | 169,840 | 132,559 |
| Contract cost | | 26,315 | 26,502 |
| Contract asset | | 107,693 | 103,216 |
| Short-term investments | | 3,061 | 1,940 |
| Cash and short-term deposits | | 144,697 | 137,096 |
| | | 895,514 | 759,964 |
| TOTAL ASSETS | | 1,584,528 | 1,490,993 |
| EQUITY AND LIABILITIES | | | |
| Share capital | | 465,943 | 465,943 |
| Retained earnings | | 370,316 | 365,693 |
| Equity attributable to owners of the Company | | 836,259 | 831,636 |
| Non-controlling interests | | 19,344 | 17,868 |
| Total Equity | | 855,603 | 849,504 |
| Non-Current Liabilities | | | |
| Loans and borrowings | B7 | 507,300 | 443,018 |
| Lease liabilities | | 284 | 341 |
| Deferred tax liabilities | | 39 | 39 |
| | | 507,623 | 443,398 |
| Current Liabilities | | | |
| Loans and borrowings | B7 | 35,643 | 39,640 |
| Lease liabilities | | 764 | 986 |
| Current tax liabilities | | 8,906 | 912 |
| Trade and other payables | | 175,989 | 156,553 |
| | | 221,302 | 198,091 |
| Total Liabilities | | 728,925 | 641,489 |
| TOTAL EQUITY AND LIABILITIES | | 1,584,528 | 1,490,993 |
| Net assets per share attributable to owners of the Company (RM) | | 0.24 | 0.24 |
| Number of outstanding ordinary shares in issue ('000) | | 3,468,000 | 3,468,000 |

The Unaudited Condensed Consolidated Statements of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 and the accompanying explanatory notes to the interim financial report.

Page 1

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RADIUM

BUILDING GOOD

RADIUM DEVELOPMENT BERHAD

Registration No.: 201301009006 (1038848-V)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS FOR FIRST QUARTER ENDED 31 MARCH 2026

	Note	Current quarter ended 31.3.2026	Comparative quarter ended 31.3.2025	Current period to date ended 31.3.2026	Preceding period to date ended 31.3.2025
		RM'000	RM'000	RM'000	RM'000
Revenue	A12	70,805	40,003	70,805	40,003
Cost of sales		(51,139)	(28,198)	(51,139)	(28,198)
Gross profit		19,666	11,805	19,666	11,805
Other income		279	858	279	858
Marketing expenses		(3,578)	(3,011)	(3,578)	(3,011)
Administrative expenses		(4,267)	(4,688)	(4,267)	(4,688)
Other operating expenses		(1,036)	-	(1,036)	-
Profit from operations		11,064	4,964	11,064	4,964
Finance income		958	1,328	958	1,328
Finance costs		(2,809)	(2,181)	(2,809)	(2,181)
Profit before taxation		9,213	4,111	9,213	4,111
Taxation	B4	(3,114)	(1,560)	(3,114)	(1,560)
Profit for the period, representing total comprehensive income for the period		6,099	2,551	6,099	2,551
Profit / Total comprehensive income attributable to:
Owners of the Company		4,623	1,859	4,623	1,859
Non-controlling interests		1,476	692	1,476	692
		6,099	2,551	6,099	2,551
Basic earnings per share attributable to owners of the Company (sen)	B10	0.13	0.05	0.13	0.05

The Unaudited Condensed Consolidated Statements of Profit or Loss should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 and the accompanying explanatory notes to the interim financial report.

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RADIUM

BUILDING GOOD

RADIUM DEVELOPMENT BERHAD

Registration No.: 201301009006 (1038848-V)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR FIRST QUARTER ENDED 31 MARCH 2026

	Attributable To Owners Of The Company
	Share capital	Retained earnings	Total	Non-controlling interests	Total equity
Note	RM'000	RM'000	RM'000	RM'000	RM'000
As at 1 January 2026	465,943	365,693	831,636	17,868	849,504
Profit after tax / Total comprehensive income	-	4,623	4,623	1,476	6,099
As at 31 March 2026	465,943	370,316	836,259	19,344	855,603
As at 1 January 2025	465,943	301,697	767,640	8,305	775,945
Profit after tax / Total comprehensive income	-	1,859	1,859	692	2,551
Transaction with owners of the Company
Effects of dilution of interests in subsidiaries	-	10	10	(10)	-
Ordinary shares capital contributed by non-controlling interests of subsidiaries	-	-	-	858	858
Total transactions with owners	-	10	10	848	858
As at 31 March 2025	465,943	303,566	769,509	9,845	779,354

The Unaudited Condensed Consolidated Statements of Changes in Equity should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 and the accompanying explanatory notes to the interim financial report.

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RADIUM

BUILDING GOOD

RADIUM DEVELOPMENT BERHAD

Registration No.: 201301009006 (1038848-V)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR FIRST QUARTER ENDED 31 MARCH 2026

| | Current period to date ended 31.3.2026
RM'000 | Preceding period to date ended 31.3.2025
RM'000 |
| --- | --- | --- |
| CASH FLOW FROM OPERATING ACTIVITIES | | |
| Profit before taxation | 9,213 | 4,111 |
| Adjustments for: | | |
| Depreciation of property, plant and equipment | 531 | 498 |
| Depreciation of right-of-use assets | 272 | 210 |
| Fair value gain of short-term investments | (24) | (767) |
| Finance costs | 2,809 | 2,181 |
| Finance income | (958) | (1,328) |
| Gain on disposal of short-term investments | (6) | (9) |
| Operating profit before changes in working capital | 11,837 | 4,896 |
| Changes in working capital: | | |
| Inventories | (102,498) | (11,820) |
| Trade and other receivables | 25,407 | (26,857) |
| Contract assets | (4,477) | (107) |
| Contract cost | 187 | (2,068) |
| Trade and other payables | 19,436 | 3,534 |
| Net cash used in operations | (50,108) | (32,422) |
| Interest received | 765 | 925 |
| Interest paid | (598) | - |
| Income tax paid | (3,211) | (1,982) |
| Income tax refunded | 12,637 | 6 |
| Net cash used in operating activities | (40,515) | (33,473) |
| CASH FLOW FROM INVESTING ACTIVITIES | | |
| Additional of investment property under construction | 763 | (92) |
| Repayment from a related party | 710 | 5,937 |
| Changes in pledged deposits | (4,194) | (53) |
| Uplift in short-term investments | (1,091) | (79,689) |
| Purchase of property, plant and equipment | (9,780) | (127) |
| Interest received | 193 | 403 |
| Net cash used in investing activities | (13,399) | (73,621) |

Page 4

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RADIUM

BUILDING GOOD

RADIUM DEVELOPMENT BERHAD

Registration No.: 201301009006 (1038848-V)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

| | Current period to date ended 31.3.2026
RM'000 | Preceding period to date ended 31.3.2025
RM'000 |
| --- | --- | --- |
| CASH FLOW FROM FINANCING ACTIVITIES | | |
| Ordinary share capital contributed by non-controlling interests of subsidiaries | - | 858 |
| Payment of lease liabilities | (279) | (206) |
| Drawdown of term loans | 47,200 | 2,000 |
| Repayment of term loans | (13,390) | (771) |
| Drawdown of bridging loans | 24,282 | 20,151 |
| Repayment of bridging loans | (8,897) | (6,627) |
| Drawdown of revolving credit | 10,000 | - |
| Repayment of revolving credit | - | (10) |
| Repayment of hire purchase payables | (84) | (55) |
| Interest paid | (2,685) | (2,181) |
| Net cash from financing activities | 56,147 | 13,159 |
| Net increase/(decrease) in cash and cash equivalents | 2,233 | (93,935) |
| Cash and cash equivalents at beginning of the financial period | 94,217 | 208,787 |
| Cash and cash equivalents at end of the financial period | 96,450 | 114,852 |
| Cash and cash equivalents comprised of: | | |
| Cash and bank balances | 106,819 | 114,852 |
| Short-term deposits | 37,878 | 8,138 |
| Bank overdraft | (10,369) | - |
| | 134,328 | 122,990 |
| Less: Pledged deposits | (37,878) | (8,138) |
| | 96,450 | 114,852 |

The Unaudited Condensed Consolidated Statements of Cash Flows should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 and the accompanying explanatory notes to the interim financial report.

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RADIUM
BUILDING GOOD
RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026

Part A - Explanatory Notes Pursuant to Malaysian Financial Reporting Standards ("MFRS") 134 -Interim Financial Reporting

A1. Basis of preparation

The interim financial report of the Group is unaudited and has been prepared in accordance with MFRS 134 - Interim Financial Reporting and paragraph 9.22 as well as Appendix 9B of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities").

The interim financial report should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 and the accompanying explanatory notes to the interim financial report.

A2. Significant accounting policies

The significant accounting policies adopted by the Group in the interim financial report are consistent with those adopted in the Audited Financial Statements for the year ended 31 December 2025, except for the adoption of the following new accounting standards, amendments and interpretation that have been issued by the Malaysian Accounting Standards Board ("MASB"):

(a) Amendments to MFRSs adopted

For the preparation of the financial statements, the following accounting standards and amendments of the MFRS framework issued by the MASB are mandatory for the first time for the current financial period:

• Amendments to MFRS 9 Financial Instruments and MFRS 7 Financial Instruments: Disclosures – Amendments to the Classification and Measurement of Financial Instruments
• Amendments to MFRS 9 Financial Instruments and MFRS 7 Financial Instruments: Disclosures – Contracts Referencing Nature-dependent Electricity
• Amendments that are part of Annual Improvements – Volume 11:
• Amendments to MFRS 1 First-time Adoption of Malaysian Financial Reporting Standards
• Amendments to MFRS 7 Financial Instruments: Disclosures
• Amendments to MFRS 9 Financial Instruments
• Amendments to MFRS 10 Consolidated Financial Statements
• Amendments to MFRS 107 Statement of Cash Flows

The adoption of the abovementioned accounting standards and amendments are not expected to have any material impact on the financial statements of the Group.

(b) MFRSs and Amendments to MFRSs not adopted

New MFRSs and amendments to MFRSs effective for annual periods beginning on or after 1 January 2027

• MFRS 18 Presentation and Disclosure in Financial Statements
• MFRS 19 Subsidiaries without Public Accountability: Disclosures
• Amendments to MFRS 19 Subsidiaries without Public Accountability: Disclosures
• Amendments to MFRS 121 The Effects of Changes in Foreign Exchange Rates – Translation to a Hyperinflationary Presentation Currency

Page 6

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RADIUM

BUILDING GOOD

RADIUM DEVELOPMENT BERHAD

Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

A2. Significant accounting policies (Cont'd)

(b) MFRSs and Amendments to MFRSs not adopted

Amendments to MFRSs effective date yet to be confirmed

• Amendments to MFRS 10 Consolidated Financial Statements and MFRS 128 Investment in Associates and Joint Ventures – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture

The abovementioned Amendments to MFRSs will be adopted in the annual financial statements of the Group when they become effective and the Directors anticipate that the adoption of these Amendments to MFRS will have no material impact on the financial statements of the Group in the period of initial application.

A3. Seasonal or cyclical factors

The business operations of the Group were not materially affected by seasonal or cyclical factors during the current quarter and financial period to date under review.

A4. Unusual items due to their nature, size or incidence

There were no items affecting assets, liabilities, equity, net income or cash flows that were unusual because of their nature, size or incidence during the current quarter and financial period to date under review.

A5. Changes in estimates

There were no material changes in estimates of the amounts reported during the current quarter and financial period to date under review.

A6. Changes in debts and equity securities

There were no issuances, cancellations, repurchases, resale and repayments of debts and equity securities during the current quarter and financial period to date under review.

A7. Dividend paid

No dividends have been paid during the current quarter and financial period to date under review.

Page 7

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RADIUM
BUILDING GOOD
RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

A8. Segmental Information

For management purposes, the Group is organised into business units based on their products and services. The Group's reportable segments are as follows:

(a) Property development and investment
- Development and sales of residential properties.
- Letting of property.

(b) Investment holdings and others
- Investment activities, provision of management services, provision of information technology related services, hotel business (dormant) and healthcare (dormant).

The senior management of the Group reviews the operations and performance of the respective business segments on a regular basis and their respective performances.

	Property development and investment RM'000	Investment holdings and others RM'000	Total RM'000
Current year to date ended 31 March 2026
Revenue
Total revenue	70,805	1,875	72,680
- Inter-segment revenue	-	(1,875)	(1,875)
Revenue from external parties	70,805	-	70,805
Results
Segment profit/(loss)	13,373	(4,160)	9,213
- Inter-segment elimination	(3,779)	3,779	-
Profit/(Loss) before taxation	9,594	(381)	9,213
Taxation	(2,986)	(128)	(3,114)
Net profit/(loss) for the financial period	6,608	(509)	6,099
Preceding year to date ended 31 March 2025
Revenue
Total revenue	40,003	2,328	42,331
- Inter-segment revenue	-	(2,328)	(2,328)
Revenue from external parties	40,003	-	40,003
Results
Segment profit/(loss)	6,955	(2,844)	4,111
- Inter-segment elimination	(5,056)	5,056	-
Profit before taxation	1,899	2,212	4,111
Taxation	(962)	(598)	(1,560)
Net profit for the financial period	937	1,614	2,551

Page 8

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RADIUM
BUILDING GOOD
RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

A8. Segmental Information (Cont'd)

	Property development and investment RM'000	Investment holdings and others RM'000	Total RM'000
As at 31 March 2026
Assets
Segment assets	1,455,350	112,978	1,568,328
Deferred tax assets and current tax assets	12,264	3,936	16,200
Total assets	1,467,614	116,914	1,584,528
Liabilities
Segment liabilities	605,236	114,744	719,980
Deferred tax liabilities and current tax liabilities	8,783	162	8,945
Total liabilities	614,019	114,906	728,925
As at 31 December 2025
Assets
Segment assets	1,371,628	98,619	1,470,247
Deferred tax assets and current tax assets	17,318	3,428	20,746
Total assets	1,388,946	102,047	1,490,993
Liabilities
Segment liabilities	534,504	106,034	640,538
Deferred tax liabilities and current tax liabilities	912	39	951
Total liabilities	535,416	106,073	641,489

A9. Subsequent Events

There were no significant events subsequent to the end of the financial period to date under review.

A10. Changes in the Composition of the Group

There were no changes in the composition of the Group during the current quarter under review.

A11. Fair value measurement

(a) Financial instruments that are carried at fair value

Financial assets at Fair Value Through Profit or Loss are measured at different measurement hierarchies (i.e. Levels 1, 2 and 3). The hierarchies reflect the level of objectiveness of inputs used when measuring the fair value.

Page 9

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RADIUM
BUILDING GOOD
RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

A11. Fair value measurement (Cont'd)

(a) Financial instruments that are carried at fair value (Cont'd)

(i) Level 1: Quoted prices (unadjusted) of identical assets in active markets

The Group does not have any financial instruments measured at Level 1 as at 31 March 2026 and 31 December 2025.

(ii) Level 2: Inputs other than at quoted prices included within Level 1 that are observable for the assets, either directly (prices) or indirectly (derived from prices)

The Group does not have any financial instruments measured at Level 2 as at 31 March 2026 and 31 December 2025.

(iii) Level 3: Inputs for the assets that are not based on observable market data (unobservable inputs)

| | As at
31.3.2026
RM'000 | As at
31.12.2025
RM'000 |
| --- | --- | --- |
| Level 3 | | |
| Financial assets | | |
| - Short-term investments | 3,061 | 1,940 |
| | 3,061 | 1,940 |

(b) Financial instruments that are not carried at fair value

The carrying amounts of financial assets and financial liabilities at amortised cost are reasonable approximations of fair values.

A12. Revenue

| | Current
period to
date ended
31.3.2026
RM'000 | Preceding
period to
date ended
31.3.2025
RM'000 |
| --- | --- | --- |
| Disaggregation of the Group's revenue from contracts with customers: | | |
| Timing of revenue recognition | | |
| - over time | 70,805 | 40,003 |

Page 10

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RADIUM
BUILDING GOOD
RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

A13. Commitments

Save as disclosed below, there were no material capital commitments during the current quarter and financial period to date under review.

Capital commitment not provided for in the financial year as at 31 March 2026 is as follows:

	As at 31.3.2026 RM'000	As at 31.12.2025 RM'000
Approved and contracted but not provided for:
- Acquisition of property, plant and equipment	22,950	22,950
	22,950	22,950

A14. Related Party Transactions

The significant related party transactions as at current quarter and financial period to date were summarised as below:

Related parties	Nature of transactions	Current quarter ended 31.3.2026 RM'000	Current period to date ended 31.3.2026 RM'000
Alfa Sutramas Sdn. Bhd.	Interest income	190	190
Southern Score Sdn. Bhd.	Provision of main construction management services	(10,759)	(10,759)
Megan Projek Sdn. Bhd.	Rental expenses	(190)	(190)

A15. Changes in Contingent Liabilities and Assets

There were no material contingent liabilities or assets during the current quarter and financial period to date under review.

Page 11

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RADIUM

BUILDING GOOD

RADIUM DEVELOPMENT BERHAD

Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

Part B - Explanatory Notes Pursuant to Part A of Appendix 9B of The Main Market Listing Requirements of Bursa Securities

B1. Review of Performance

The comparison of the quarterly results is tabulated below:

Table 1: Financial review for current quarter and financial period to date

	Current quarter ended 31.3.2026 RM'000	Comparative quarter ended 31.3.2025 RM'000	Changes %	Current period to date ended 31.3.2026 RM'000	Preceding period to date ended 31.3.2025 RM'000	Changes %
Revenue	70,805	40,003	77	70,805	40,003	77
Gross Profit	19,666	11,805	67	19,666	11,805	67
Profit Before Tax ("PBT")	9,213	4,111	124	9,213	4,111	124

For the current quarter under review ("1QFY2026"), the Group registered revenue of RM70.8 million, gross profit of RM19.7 million, and PBT of RM9.2 million, compared to revenue of RM40.0 million, gross profit of RM11.8 million, and PBT of RM4.1 million in the comparative quarter ("1QFY2025"), representing an increase of RM30.8 million or 77% in revenue, an increase of RM7.9 million or 67% in gross profit, and an increase of RM5.1 million or 124% in PBT. The Group's revenue and gross profit in 1QFY2026 were primarily driven by its three ongoing projects, namely the Suite Canselor, Residensi Desa Timur and Radium Arena. The Group recorded a higher revenue is mainly due to increase of work progress across all projects compared to 1QFY2025. The improved PBT in 1QFY2026 was primarily driven by better cost control on marketing related expenses and administrative expenses of the Group.

Table 2: Financial review for current quarter compared with immediate preceding quarter

	Current quarter ended 31.3.2026 RM'000	Immediate preceding quarter ended 31.12.2025 RM'000	Changes %
Revenue	70,805	71,580	(1)
Gross Profit	19,666	18,641	5
PBT	9,213	4,993	85

The Group registered revenue of RM70.8 million, gross profit of RM19.7 million, and PBT of RM9.2 million in 1QFY2026, compared with revenue of RM71.6 million, gross profit of RM18.6 million, and PBT of RM5.0 million in the immediate preceding quarter ("4QFY2025"), representing a slight decrease of RM0.8 million or 1% in revenue, an increase of RM1.1 million or 5% in gross profit, and an increase of RM4.2 million or 85% in PBT.

During the current quarter under review, the Group's revenue and gross profit was mainly driven by its on-going projects, namely the Suite Canselor, Residensi Desa Timur and Radium Arena projects. The Group recorded an increase in PBT primarily driven by better gross profit resulted from tighter cost management in projects and the absent of unwinding interest expenses as required under MFRS 9 for long term receivables which was recognised in 4QFY2025.

Page 12

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RADIUM
BUILDING GOOD
RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

B2. Group's Prospect

Prospects for the year 2026

According to advance estimates by the Department of Statistics Malaysia, Malaysia's economy recorded a growth of 5.3% in 1QFY2026 as compared to 6.3% in the preceding quarter, remaining resilient amid global geopolitical uncertainties. Overnight Policy Rate remains unchanged at 2.75%.

In the property sector, Kuala Lumpur residential market hit a five-year high in 4QFY2025, indicating a firmer performance trajectory for the capital's residential sector.

Going into FY2026, the Group's performance is expected to be primarily driven by its key development projects:

• FY2026 new planned launches, including a joint venture development in Kepong, slated for launch in 3QFY2026, with a potential estimated GDV of RM400 million; as well as the Group's maiden Selangor project in Pandan Indah, slated for launch in 4QFY2026, with a potential estimated GDV of RM500 million.
• Ongoing projects including:
  (a) Residensi Desa Timur, comprising the Residensi Wilayah and Suite Apartments components, with a combined estimated gross development value ("GDV") of RM982 million.
  (b) Radium Arena, a 988-unit Suite Apartment in Old Klang Road, with an estimated GDV of RM505 million, has garnered encouraging market responses since launch.

These projects represent the core of the Group's near-term revenue pipeline and reinforce its strategic focus on high-density residential development in prime locations.

In parallel, the Group is actively pursuing business diversification to build recurring income streams and strengthen long term resilience. The Group had on 28 April 2026 obtained shareholders' approval for the proposed diversification of the existing principal activities of the Group to include the healthcare business. A key initiative is the Group's entry into the healthcare sector through the planned development of a hospital in Melaka, slated for opening in the first half of 2028. The Group may consider other healthcare-related businesses as and when opportunities arise.

The Group remains mindful of external cost pressures arising from ongoing global geopolitical developments and inflationary trends, which may impact construction-related costs. The Group will continue to adopt prudent cost management and procurement strategies to mitigate such risks.

Barring any unforeseen circumstances, the Board remains cautiously optimistic about the Group's prospects for the financial year 2026. Performance is expected to be driven by steady progress across ongoing development projects and new planned launches. The Group will continue to focus on disciplined execution and prudent cost management amid an evolving operating environment.

B3. Variance of Actual Profit from Profit Forecast or Profit Guarantee

The Company did not issue any profit forecast or profit guarantee during the current quarter and financial period to date under review.

Page 13

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RADIUM
BUILDING GOOD
RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

B4. Tax expense

	Current quarter ended 31.3.2026 RM'000	Current period to date ended 31.3.2026 RM'000
Current period provision	3,866	3,866
Over provision in prior year	-	-
	3,866	3,866
Deferred taxation	(752)	(752)
	3,114	3,114

The effective tax rate for the current quarter and financial period to date is higher than the statutory tax rate of 24% mainly due to non-deductibility of certain expenses and losses in certain subsidiaries that are not available to offset against taxable profits in subsidiaries within the Group.

Taxation is computed after taking into consideration the available capital allowances and the adjusted business losses carried forward from previous years to set off against taxable profit.

B5. Status of corporate proposals

(a) Joint Venture Arrangement ("JVA") with Kadar Jutajaya Sdn. Bhd.

On 20 September 2022, Rasa Wangi Development Sdn. Bhd. ("RWDSB"), a wholly-owned subsidiary of the Company, as the developer, entered into a JVA with Kadar Jutajaya Sdn. Bhd. ("KJSB"), as the landowner, to jointly develop for a proposed development consisting inter alia 404 units of Residensi Wilayah and 932 units of condominium ("Project") on a piece of leasehold land held under HSD No.123036, No. Lot: PT50316, Negeri Wilayah Persekutuan Kuala Lumpur, Daerah Kuala Lumpur, Mukim Batu measuring approximately 21,505 square metres ("Land"). Pursuant to the JVA, the landowner grants unto the developer the exclusive right to carry out and implement the development on the Land, and the landowner shall be entitled, subject to the terms and conditions of the JVA, to receive the landowner's entitlement of 23% of the profit after tax of the developer for the Project, and in the event there are any unsold units upon the delivery of vacant possession of the Project, the developer shall at its discretion decide on the composition of the landowner's entitlement, that is, either fully in cash or a combination of cash and unsold units (based on the selling price as determined by the developer) or an amount of RM32,000,000 whichever the higher.

Page 14

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RADIUM

BUILDING GOOD

RADIUM DEVELOPMENT BERHAD

Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

B5. Status of corporate proposals (Cont'd)

(a) Joint Venture Arrangement ("JVA") with Kadar Jutajaya Sdn. Bhd. (Cont'd)

On 20 September 2023, both KJSB and RWDSB ("the Parties") have agreed to extend the period for fulfilment of Condition Precedent for a further twelve (12) months commencing from 20 September 2023 to 19 September 2024 free of interest ("First Extension of Time").

In furtherance thereto, KJSB and RWDSB had entered into the Supplemental Agreement on 20 September 2023 to document the Parties' option for further extension of time upon expiry of the First Extension of Time and involvement of KJSB (being the landowner) in project committee in relation to the said Project.

On 20 September 2024, the Parties have agreed to further extend the period for fulfilment of Condition Precedent for a further twelve (12) months commencing from 20 September 2024 to 19 September 2025 ("Second Extension of Time"), subject to interest of ten percent (10%) per annum calculated on daily basis based on the unpaid landowner's entitlement.

On 19 September 2025, the Parties have agreed to further extend the period for fulfilment of Condition Precedent for a further three (3) months commencing from 20 September 2025 to 19 December 2025 ("Third Extension of Time"), subject to interest of ten percent (10%) per annum calculated on daily basis based on the unpaid landowner's entitlement.

On 18 December 2025, the Parties have agreed to further extend the period for fulfilment of Condition Precedent for a further six (6) months commencing from 20 December 2025 to 19 June 2026 ("Fourth Extension of Time"), subject to interest of ten percent (10%) per annum calculated on daily basis based on the unpaid landowner's entitlement.

RWDSB had on 30 March 2026 obtained the approved building plan. Accordingly, the Condition Precedent of the JVA have been fulfilled and the JVA has become unconditional on 30 March 2026 ("Unconditional Date").

Pursuant to the terms of the JVA, RWDSB shall, upon the Unconditional Date, commence payment as part of the landowner's entitlement in the following manner:

(i) cash payment of Ringgit Malaysia One Million (RM1,000,000.00) every three (3) months until the delivery of vacant possession of the Project; and

(ii) the remaining landowner's entitlement shall be satisfied in accordance with the relevant provisions of the JVA.

Page 15

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RADIUM
BUILDING GOOD
RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

B6. Utilisation of Proceeds from the Public Issue

The status of the utilisation of proceeds from the Initial Public Offering (IPO) as at 31 March 2026 is as follows:

Details of use of proceeds	Proposed utilisation RM'000	Actual utilisation RM'000	Reallocation RM'000	Balance unutilised RM'000	Estimated timeframe for the use of proceeds
Acquisition of landbank and/or development expenditure	171,000	171,000	-	-	Within 36 months
Repayment of bank borrowings	93,870	93,870	-	-	Within 24 months
Hotel construction	109,300	31,079	-	78,221	Within 36 months
Working capital	39,830	42,847	* 3,017	-	Within 24 months
Estimated listing expenses	20,000	16,983	* (3,017)	-	Immediate
Total	434,000	355,779	-	78,221

The utilisation of proceeds as disclosed above should be read in conjunction with the Prospectus of the Company.

• The unutilised balance of RM3.0 million allocated for estimated listing expenses was allocated to working capital.

B7. Group Borrowings and Debt Securities

(a) The Group's borrowings and debt securities at end of the financial period to date:

	Non-current RM'000	Current RM'000	Total RM'000
As at 31.3.2026
Secured
Islamic:
Bank overdrafts	-	5,618	5,618
Bridging loan	-	10,266	10,266
Revolving credit	60,000	-	60,000
Term loans	309,613	-	309,613
	369,613	15,884	385,497

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RADIUM
BUILDING GOOD
RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

B7. Group Borrowings and Debt Securities (Cont'd)

(a) The Group's borrowings and debt securities at end of the financial period to date: (Cont'd)

	Non-current RM'000	Current RM'000	Total RM'000
As at 31.3.2026
Secured
Conventional:
Bank overdrafts	-	4,751	4,751
Bridging loan	27,927	14,580	42,507
Hire purchase	682	319	1,001
Revolving credit	65,000	-	65,000
Term loans	44,078	109	44,187
	137,687	19,759	157,446
Total secured / Total borrowings	507,300	35,643	542,943
As at 31.12.2025
Secured
Islamic:
Bank overdrafts	-	9,195	9,195
Bridging loan	-	11,472	11,472
Revolving credit	50,000	-	50,000
Term loans	271,413	-	271,413
	321,413	20,667	342,080
Conventional:
Bridging loan	7,951	17,966	25,917
Hire purchase	770	315	1,085
Revolving credit	65,000	-	65,000
Term loans	47,884	692	48,576
	121,605	18,973	140,578
Total secured / Total borrowings	443,018	39,640	482,658

(b) Commentaries on the Group's borrowings and debt securities

During the financial period, the increase in the borrowings were mainly used for land acquisition and working capital purposes.

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RADIUM

BUILDING GOOD

RADIUM DEVELOPMENT BERHAD

Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

B8. Material Litigation

Vistarena Development Sdn. Bhd. ("Vistarena" or "the Defendant")

Vistarena Development Sdn. Bhd., a 80%-owned subsidiary of the Company, had on 9 June 2023 being served with a Writ of Summons and Statement of Claim ("the Suit") from 241 individual purchasers of Block B, Residensi Platinum OUG ("the Plaintiffs"). Residensi Platinum OUG is the development undertaken by the Defendant as a developer in which the vacant possession had been delivered in and around June 2022.

Prior to the filing of the Suit on 18 October 2022, there was a meeting held between representatives from relevant government authorities, the Defendant, the architect, the civil and structural consultant, main contractor as well as purchasers' representatives from Block A and Block B ("the Meeting") to discuss the issues pertaining, inter alia the entrances and defects. However, it was concluded in the meeting that the construction of separate entrances will be put on hold until the formation of the management corporation and the Defendant to expedite the defect rectification works.

Despite the proposed direction given by the relevant government authorities in the Meeting, the Plaintiffs had filed in the Suit against the Defendant at Kuala Lumpur High Court ("the Court"). The Suit was arising from, inter alia, alleged misrepresentation on separate entrances between Block A and Block B, no access control established by the Defendant for the common facilities designated for Block B, safety-related defects are not attended to by the Defendant, and no steps taken by the Defendant to address the alleged declination of the value of Block B.

The Plaintiffs are seeking, inter alia, the following reliefs from the Court:

(a) a declaration that the Defendant has conducted in misrepresentation and breach of contract towards the Plaintiffs in the process of selling units to the Plaintiffs;
(b) an injunction against the Defendant to take all necessary and reasonable steps to establish two (2) access paths at the entrance to Block A and Block B within a period of three (3) months from the date of judgment/order;
(c) a judgment that the Defendant rectifies all listed safety-related defects, and the rectification works are to be completed to the satisfaction of the Plaintiffs' representative within a period of three (3) months from the date of judgment or order, with costs borne solely by the Defendant;
(d) an order for general damages to be assessed by the Court;
(e) Exemplary damages amounting to RM25,000.00 to be paid to each Plaintiff within seven (7) days from the date of judgment/order;
(f) Cost; and
(g) 5% interest on the judgement awarded by Court from the date of filing the Suit until full settlement.

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RADIUM BUILDING GOOD
RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

B8. Material Litigation (Cont'd)

Vistarena Development Sdn. Bhd. ("Vistarena" or "the Defendant") (Cont'd)

On 21 September 2023, 104 individual purchasers of Block A (civil servants housing), Residensi Platinum OUG filed an application to intervene, claiming that, amongst others, they shall be heard/ allowed to intervene the proceeding so to protect their interest in the common properties given that the Plaintiffs' claims involving access to common properties, shared common area, shared entrance to access Residensi Platinum OUG in which their rights and interests would be affected by any decision from the Court. The Court has on 3 January 2024 allowed the application to intervene hence 104 individual purchasers of Block A were added as co-defendants ("the Co-defendants").

On 5 March 2024, the Defendant filed an application for the disposal of the Plaintiffs' case on points of law ("Order 14A Application") and the hearing date was scheduled on 19 June 2024. Following the same, the Co-defendants also filed a separate application for the disposal of the Plaintiffs' case on points of law ("Co-defendants Application").

After numerous court's dates, on 4 October 2024, the date fixed for decision of Order 14A Application and Co-defendants Application, the Court decided in favour of all the Defendants, i.e. need not to establish/construct two (2) separate entrances since the management corporation had been established.

On the same date, 4 October 2024, the Court proceeded to fix 29 November 2024 for:

(a) case management on issue of defects and rectification works together with misrepresentation; and
(b) hearing of the Plaintiffs' application to adduce supplementary affidavit (application to file additional affidavit by the Plaintiffs) (Plaintiffs' application filed prior to the decision of Order 14A Application and Co-defendants Application).

On 29 November 2024, the date was fixed for both case management for (a) and hearing of (b) above. For hearing of (b), the Plaintiffs had withdrawn their application. For issue of misrepresentation and defects and rectification works, the Court fixed the next case management on 7 April 2026.

During the case management held on 7 April 2026 which was fixed to update the Court on the mediation scheduled on 13 March 2026 which was unsuccessful, the Court directed that the trial be expedited to 2026 noting the case had been pending since 2023 and requested the parties to confirm their availability. The Court then suggested dates in July and August 2026 and upon confirmation of counsels' availability, rescheduled the trial to 23 July 2026, 31 July 2026 and 28 August 2026 respectively.

As at the date of this report, there is no expected material financial impact arising from the Suit on the Defendant and the Company.

B9. Dividend

No dividend has been recommended by the Board of Directors for the current quarter under review.

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RADIUM
BUILDING GOOD
RADIUM DEVELOPMENT BERHAD
Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

B10. Earnings per Share ("EPS")

The basic EPS of the Group is calculated based on the profit attributable to owners (ordinary equity holders) of the Company divided by the weighted average number of ordinary shares in issue.

	Current quarter ended 31.3.2026	Comparative quarter ended 31.3.2025	Current period to date ended 31.3.2026	Preceding period to date ended 31.3.2025
Profit attributable to owners of the Company (RM'000)	4,623	1,859	4,623	1,859
Weighted average number of ordinary shares in issue ('000)	3,468,000	3,468,000	3,468,000	3,468,000
Basic EPS (sen)	0.13	0.05	0.13	0.05

The diluted EPS of the Group is equal to the basic EPS as the Group does not have any dilutive shares in issue.

B11. Auditors' Report on Preceding Annual Financial Statements

The auditors' report on the financial statement for the financial year ended 31 December 2025 was not subject to any qualification.

B12. Items included in the Statement of Profit or Loss

	Current quarter ended 31.3.2026 RM'000	Current period to date ended 31.3.2026 RM'000
Depreciation of property, plant and equipment	(531)	(531)
Depreciation of right-of-use assets	(272)	(272)
Fair value gain of short-term investments	24	24
Finance costs	(2,809)	(2,809)
Finance income	958	958
Gain on disposal of short-term investments	6	6

B13. Derivative Financial Instruments

The Group does not have any derivative financial instruments as at the date of this report.

Page 20

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RADIUM

BUILDING GOOD

RADIUM DEVELOPMENT BERHAD

Registration No.: 201301009006 (1038848-V)

EXPLANATORY NOTES TO THE INTERIM FINANCIAL REPORT FOR FIRST QUARTER ENDED 31 MARCH 2026 (CONT'D)

B14. Fair Value Changes of Financial Liabilities

The Group does not have any financial liabilities that are measured at fair value at the date of this report.

By Order of the Board,
Datuk Gan Kah Siong
Group Managing Director

21 May 2026

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