MCB is pleased to announce that GB3 and SEV, both subsidiaries of the Company, have on 15 May 2026 entered into the PPAs with TNB in relation to the extension of operations of the Lumut Power Plants. The scheduled commercial operation dates are no later than 1 January 2027 for the GB3 Plant and 1 July 2027 for the SEV Plant, with the respective PPAs expiring on 31 December 2029.

The extensions build on the established operational track record of the Lumut Power Plants. The GB3 Plant commenced operations under its initial twenty-one (21)-year power purchase agreement, which expired on 30 December 2022. The SEV Plant has been in operation since 1996 under its initial twenty-one (21)-year power purchase agreement, which expired on 30 June 2017, followed by a subsequent ten (10)-year extension expiring on 30 June 2027. The extensions reflect the strong operational track record and reliability of the Lumut Power Plants.

The PPAs set out, amongst others, the rights and obligations of the parties in relation to the generation and sale of electricity including the provision of generating capacity from the Lumut Power Plants to TNB.

The PPAs are expected to contribute positively to the future earnings and net assets of MCB Group.

None of the directors and/or major shareholders of MCB and/or persons connected with them has any interest, direct or indirect, in the PPAs.

This announcement is dated 18 May 2026.