We refer to the announcements dated 29 March 2024 and 5 April 2024 in relation to the Proposed LTIP (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, Kenanga IB wishes to announce that Bursa Securities had, vide its letter dated 3 May 2024, resolved to approve the listing and quotation of such number of new SkyWorld Shares representing up to 10% of the total number of issued shares of SkyWorld Development (excluding treasury shares, if any), to be issued pursuant to the Proposed LTIP, subject to the following:

1) SkyWorld Development and Kenanga IB must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed LTIP;

2) Kenanga IB is required to submit a confirmation to Bursa Securities of full compliance of the Proposed LTIP pursuant to paragraph 6.43(1) of the Listing Requirements and stating the effective date of implementation together with a certified true copy of the resolution passed by the shareholders in a general meeting approving the Proposed LTIP; and

3) SkyWorld Development to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the Proposed LTIP, as at the end of each quarter together with a detailed computation of listing fees payable.

This announcement is dated 3 May 2024.