The Board of Directors of Bina Darulaman Berhad announced that BDB had on 28 September 2022 entered a Memorandum of Understanding with University Utara Malaysia. OBJECTIVE: The objective of the MOU is for both parties will explore opportunities for any cooperation that can be formed as a result of further discussions and opportunities to work together. SALIENT TERMS OF MOU: The MOU is the basic framework for both parties to explore and evaluate the capabilities and/or possibilities of success of any future joint venture program.

RATIONALE OF MOU: The rationale of the MOU is to pave the way for further discussions and negotiations between the Parties before signing any definitive agreement to effectuate the deals. FINANCIAL EFFECTS OF THE MOU: The execution of the MOU is not expected to have any material effect on the earnings, net assets, and gearing of BDB for the current financial year ending 31 December 2022. Nonetheless, BDB expects a positive contribution to its earnings in the future should the collaboration be finalised and successfully commercialised.

The execution of the MOU does not affect the issued and paid-up share capital and the substantial shareholders' of BDB. DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST: None of the Directors, Substantial Shareholders of the Company, and persons connected to them has any interest, direct and/or indirect, in the MOU. APPROVAL REQUIRED: The execution of the MoU is not subject to the approval of the shareholders of the Company or any relevant authorities.