The Board of Directors of Sunway is pleased to announce that the Urban Redevelopment Authority of Singapore has on 20 July 2026, awarded a parcel of land measuring approximately 57,460.6 square metres at Bayshore Drive, Singapore ("Land") for a 99-year lease term for residential and commercial development at S$2,128,000,000 (equivalent to approximately RM6.74 billion) to Gemini Residential Pte. Ltd. ("GRPL") and Gemini Trustee Pte. Ltd. (acting in its capacity as the trustee-manager of Gemini Mall Trust) ("GTPL"), following a successful tender for the Land jointly submitted by GRPL and GTPL. GRPL, GTPL and Gemini Mall Trust are all 30%-owned joint ventures of Sunway.

GRPL and GTPL will jointly undertake the development of the Land ("Proposed Project"), subject to regulatory approvals.

The details of GRPL, GTPL and Gemini Mall Trust are as follows:

Note 1:  Principal activity of FCT Trustee.

SMCL R2 and SMCL C2 are indirect wholly-owned subsidiaries of Sunway.

The Proposed Project is expected to contribute positively to the earnings of Sunway Group from the financial year ending 31 December 2029 onwards.

The Proposed Project is subject to usual property development and construction related risk, including fluctuations in the raw materials prices, interest rate movements and gyrations in the property cycle. However, these risks could be mitigated by Sunway Group's and the joint venture partners' experience and track record in property development.

None of the Directors or major shareholders of Sunway or persons connected with them has any interest, whether direct or indirect, in the Proposed Project.

This announcement is dated 20 July 2026.