TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS FAVELLE FAVCO BERHAD (“FFB” OR “THE COMPANY”) – PROPOSED DEVELOPMENT OF TWO UNITS OF SINGLE-STOREY LOGISTIC WAREHOUSES WITH A COMBINED GROSS LETTABLE AREA OF 14,000 SQUARE METRES ON THE PROJECT LAND FOR LEASING PURPOSES

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS FAVELLE FAVCO BERHAD ("FFB" OR "THE COMPANY") - PROPOSED DEVELOPMENT OF TWO UNITS OF SINGLE-STOREY LOGISTIC WAREHOUSES WITH A COMBINED GROSS LETTABLE AREA OF 14,000 SQUARE METRES ON THE PROJECT LAND FOR LEASING PURPOSES

FAVELLE FAVCO BERHAD

The Board of Directors of the Company is pleased to announce that FFB had on 24 May 2024 entered into a Project Development Agreement with an experienced developer in Australia, namely Dexus Property Services Pty Limited and Dexus Funds Management Limited for the design, construction, construction financing and tenant sourcing in respect of two (2) single-storey logistic warehouses with a combined gross lettable area of 14,000 square metres on half of the freehold land measuring 46,839.7 sqm, bearing postal address 28 Yarrunga Street, Prestons, New South Wales 2170, Australia, already owned by the Company ("the Project").

Please refer to the attachment for further details on the Project.

This announcement is dated 24 May 2024.