On behalf of the Board of Directors of SkyWorld Development ("Board"), Kenanga Investment Bank Berhad ("Kenanga IB") wishes to announce that the Company proposes to establish a long term incentive plan ("LTIP") comprising an employee share option scheme and a performance share grant plan involving up to 10% of the total number of issued shares of SkyWorld Development (excluding treasury shares, if any) at any point in time during the duration of the LTIP, for the Chief Executive Officer of SkyWorld Development, eligible employees who hold senior management positions and key roles within SkyWorld Development and its subsidiaries (excluding those which are dormant) ("SkyWorld Group" or the "Group") and any employee of SkyWorld Group, who fulfil the eligibility criteria as set out in the by-laws of the LTIP ("Proposed LTIP").

Please refer to the attachment for further details on the Proposed LTIP.

This announcement is dated 29 March 2024.