1. Introduction

The Board of Directors of Uzma Berhad (“Uzma” or “the Company”) is pleased to announce that Uzma Engineering Sdn. Bhd. (“UESB”), a wholly-owned subsidiary of the Company has entered into a Commercialisation Agreement with PETRONAS Technology Ventures Sdn Bhd ("PTVSB"), a wholly-owned subsidiary of PETRONAS to commercialize the Non Metalic Pipeline (NMP). The Commercialisation Agreement and its Addendum was signed on 17 December 2021 and 22 March 2022 respectively.

2. Salient Terms

For the purpose of commercialising the installation of NMP, PTVSB grants UESB a licence to:-

(a) Market and use the installation method developed by PETRONAS/its Affiliates to install NMP and use data and information in relation to qualified NMP as supplied by PTVSB/its Affiliates; and

(b) The Commercialisation Agreement shall be in force for a period of three (3) years from the commencement date with the option to renew for another two (2) years.

3. Risk factors

Potential risk factors include project operational and execution risks, work schedules, and delivery timelines.

4. Financial effects

The Contract will not have any effect on the share capital and shareholding structure of the Company as it does not involve the issuance of ordinary shares in the Company. However, it is expected to contribute positively towards the earnings and net assets per share of the Company for the financial year ending 30 June 2022 and onwards until the expiry of the Contract.

5. Directors’ and Major Shareholders’ Interests

None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of Uzma has any direct or indirect interest in the Contract.

6. Directors’ Statement

The Board of Directors of the Company, after considering all the relevant factors, is of the opinion that the signing of the Commercialisation Agreement is in the best interest of the Company.

This announcement is dated 28 March 2022.