Unless otherwise defined in this announcement, all terms used herein shall have the same meaning as those defined in the announcement dated 21 June 2022 in relation to the Proposals (“Original Announcement”). Where applicable, the information set out in this announcement has also been updated to 21 July 2022, being the current latest practicable date (“LPD”).

Reference is made to the Original Announcement where M&A Securities had on behalf of the Board announced that the Company proposes to undertake the following:

(a) private placement of 479,293,900 new Bina Puri Shares, representing 30% of the existing number of issued Bina Puri Shares, to independent investor(s) to be identified; and

(b) renounceable rights issue of up to 1,659,793,300 Rights Shares together with up to 331,958,660 Warrant(s) B on the basis of 2 Rights Shares for every 3 existing Bina Puri Shares held together with 1 Warrant B for every 5 Rights Shares subscribed on the Entitlement Date.

It was the intention of the Company to complete the Proposed Private Placement prior to the implementation of the Proposed Rights Issue with Warrants. As such, the Proposed Rights Issue with Warrants was conditional upon completion of the Proposed Private Placement.

On behalf of the Board, M&A Securities wishes to announce that the Company proposes to vary the conditionality of the Proposals such that the Proposed Private Placement and Proposed Rights Issue with Warrants are not inter-conditional with each other (“Variation”).

Arising from the Variation, M&A Securities, on behalf of the Board wishes to announce the following information in relation to the Proposals.

Kindly refer to the attachment for further details on the Proposals arising from the Variation.

This announcement is dated 19 August 2022.