No. 2, Jalan Ukay Seraya 2, Taman Ukay Seraya, 68000 Ampang, Selangor

FINAL DUE DILIGENCE REPORT MAJU JUNCTION – 38 STRATA PARCELS Maju Holding / Maju Junction Property: Maju Junction Shopping Complex Location: Jalan Sultan Ismail, 50250 Kuala Lumpur Auction Reserve Price: RM353,950,000 Number of Strata Parcels: 38 Tenure: Leasehold Auction Method: e-Lelong Auction Date: 20 August 2026 Deposit: 10% Balance Purchase Price: Payable within 120 days, subject to the Proclamation of Sale ________________________________________ PAGE 1 – EXECUTIVE SUMMARY This Due Diligence Report provides a preliminary assessment of the proposed acquisition of 38 strata parcels within Maju Junction Shopping Complex, Kuala Lumpur. The assets comprise office, commercial and car park parcels within the Maju Junction development. Publicly available information confirms that the 38 parcels were offered for auction at a combined reserve price of RM353.95 million. The successful bidder is required to pay a 10% deposit and settle the balance purchase price within 120 days, subject to the detailed terms of the Proclamation of Sale. The acquisition is substantial in both value and complexity. Accordingly, the investment should be assessed not only on the reserve price, but also on the title position, condition of the assets, occupancy and tenancy position, potential refurbishment or reinstatement costs, financing requirements, holding costs and future income or redevelopment potential. The overall assessment is that the property may warrant further consideration, subject to satisfactory legal, technical, valuation and financial verification. ________________________________________ PAGE 2 – PROPERTY & AUCTION PARTICULARS Particular Details Property Maju Junction Shopping Complex Location Jalan Sultan Ismail, Kuala Lumpur Number of Parcels 38 strata parcels Property Components Office, commercial and car park parcels Reserve Price RM353,950,000 Deposit 10% / RM35,395,000 Balance RM318,555,000 Completion 120 days, subject to POS Tenure Leasehold Auction e-Lelong Auction Date 20 August 2026 The reserve price and auction terms should be read together with the official Proclamation of Sale. The public reporting confirms that the assets are registered under ASM Properties Sdn Bhd and that the auction arose from court enforcement proceedings involving Perwaja Terengganu Sdn Bhd. ________________________________________ PAGE 3 – NATURE OF THE ASSETS The auction does not necessarily represent the sale of the entire Maju Junction complex. The transaction relates specifically to the 38 identified strata parcels offered in the auction. These comprise office, commercial and car park interests within the development. This distinction is important because the purchaser should establish precisely: • which parcels are included; • the individual title particulars; • the respective parcel sizes; • the corresponding car park interests; • the common property arrangements; • management and maintenance obligations; and • whether any parcel is subject to existing occupation or tenancy. The purchaser should rely on the individual titles and the official POS rather than a general description of the development. ________________________________________ PAGE 4 – TITLE & TENURE The available auction information identifies the property as leasehold. As the acquisition involves 38 parcels, title verification should be conducted on an individual parcel basis. The purchaser should verify: 1. Registered proprietor. 2. Individual title / strata title details. 3. Lease tenure and remaining term. 4. Restrictions in interest. 5. Charges. 6. Caveats. 7. Prohibitions. 8. Easements or other registered interests. 9. Quit rent and assessment position. 10. Any other liabilities or obligations affecting the parcels. The official land searches and Proclamation of Sale should prevail over secondary property listings. ________________________________________ PAGE 5 – LOCATION & ACCESSIBILITY Maju Junction is situated at the prominent intersection of Jalan Sultan Ismail and Jalan Tuanku Abdul Rahman in Kuala Lumpur, an established central-city commercial location. The location provides several potential advantages: • established Kuala Lumpur commercial environment; • accessibility to surrounding commercial areas; • established public transport connectivity; • established surrounding population and business activity; • prominent city-centre positioning. However, location should not by itself determine the investment decision. The purchaser should assess whether the present configuration of the property can generate sufficient income relative to the total acquisition and holding costs. ________________________________________ PAGE 6 – BUILDING & PHYSICAL CONDITION The physical condition of the relevant portions of the development should be independently inspected. Particular attention should be given to: • structural condition; • façade; • roof and waterproofing; • electrical systems; • mechanical systems; • air-conditioning; • lifts and escalators; • fire protection systems; • plumbing and drainage; • common areas; • car parks; • security systems; and • general deterioration or reinstatement requirements. Any prolonged period of reduced operation or closure may have implications for maintenance and capital expenditure. A professional building inspection is therefore recommended before any final investment decision. ________________________________________ PAGE 7 – OCCUPANCY & TENANCY The income-producing potential of the assets is an important consideration. The purchaser should independently verify: • existing tenants; • tenancy agreements; • rental rates; • rental arrears; • security deposits; • vacant areas; • service charges; • maintenance charges; • management arrangements; • utilities; • outstanding statutory payments; and • any disputes involving occupiers or tenants. Particular attention should be given to whether the 38 parcels can be operated as a commercially coherent investment or whether individual parcels are subject to different occupancy and management arrangements. ________________________________________ PAGE 8 – AUCTION TERMS & FUNDING The reserve price is: RM353,950,000 A 10% deposit represents: RM35,395,000 The balance represents: RM318,555,000 The balance purchase price is stated to be payable within 120 days, subject to the detailed auction conditions. Because of the size of the transaction, the purchaser should ensure that: • the deposit is immediately available; • financing arrangements are sufficiently advanced; • the lender is comfortable with the property structure; • valuation requirements can be satisfied; • the financing timetable fits within the 120-day completion period; and • sufficient additional funds are available for transaction and holding costs. ________________________________________ PAGE 9 – LEGAL & COURT-RELATED CONSIDERATIONS The auction arises from court enforcement proceedings involving Perwaja Terengganu Sdn Bhd and ASM Properties Sdn Bhd. Public reporting indicates that the auction followed court orders relating to the sale of the identified assets. This makes legal due diligence particularly important. The purchaser's solicitor should review: • the complete Proclamation of Sale; • relevant court orders; • title searches; • registered encumbrances; • restrictions in interest; • possession and vacant possession provisions; • tenancy arrangements; • liabilities and outgoings; • redemption and discharge provisions where applicable; and • the purchaser's obligations following completion. The purchaser should obtain independent legal advice before participating in the auction. ________________________________________ PAGE 10 – FINANCIAL CONSIDERATIONS At the reserve price of RM353.95 million, the transaction represents a major capital commitment. Purchase Price RM353,950,000 10% Deposit RM35,395,000 Balance RM318,555,000 The purchaser should also allow for costs such as: • stamp duty; • legal fees; • valuation fees; • financing costs; • professional fees; • due diligence expenses; • management and maintenance charges; • statutory payments; • refurbishment; • reinstatement; and • future capital expenditure. The actual amount of these additional costs should be confirmed by the purchaser's professional advisers. ________________________________________ PAGE 11 – VALUE & INVESTMENT ANALYSIS The reserve price should not be considered in isolation. A meaningful investment assessment should compare: Reserve Price against: Independent Market Value and: Expected Income / Investment Return and, where relevant: Potential Redevelopment or Repositioning Value. The purchaser should determine whether the expected rental income, capital appreciation or redevelopment potential provides an acceptable return after taking into account: • acquisition costs; • financing costs; • refurbishment; • operating expenses; • management costs; • vacancy risk; • market conditions; and • future exit value. The reserve price alone does not establish that the property represents a bargain. ________________________________________ PAGE 12 – KEY INVESTMENT RISKS The principal risks identified are: 1. Multiple Parcels The acquisition involves 38 separate strata interests, increasing legal and administrative complexity. 2. Leasehold Tenure The remaining lease period and all title conditions should be verified. 3. Building Condition Potential refurbishment and reinstatement expenditure may affect the investment return. 4. Occupancy Risk Actual tenancy and rental income should be independently verified. 5. Financing Risk The purchaser must be able to complete within the contractual period. 6. Transaction Costs The total investment will exceed the reserve price after taking account of acquisition and subsequent ownership costs. 7. Market Risk Future rental demand, occupancy and capital values may change. 8. Legal Risk The court-enforcement nature of the sale makes careful review of the POS, titles and court-related documentation particularly important. ________________________________________ PAGE 13 – OVERALL ASSESSMENT Maju Junction is a sizeable commercial property asset in an established central Kuala Lumpur location. The scale of the asset, its location and the combination of office, commercial and car park parcels provide potential investment considerations. At the same time, the transaction is materially different from the purchase of a conventional single commercial property because it involves: • 38 strata parcels; • a substantial acquisition price; • leasehold interests; • significant funding requirements; • legal and title verification; • potential capital expenditure; and • operational and occupancy considerations. The investment case should therefore be assessed through a detailed financial model and independent professional due diligence. ________________________________________ PAGE 14 – FINAL CONCLUSION PROFESSIONAL CONCLUSION Based on the information reviewed, Maju Junction appears to have potential as a significant commercial property investment, primarily due to its established Kuala Lumpur location, scale and the nature of the assets being offered. However, the proposed acquisition also involves substantial financial commitment and a number of matters that require further verification. In particular, the purchaser should be satisfied with the title position of all 38 parcels, lease tenure, legal and court-related matters, physical condition, occupancy and tenancy position, potential capital expenditure, financing arrangements and projected investment returns. Accordingly, the property may be worthy of further consideration, subject to satisfactory completion of the purchaser's legal, technical, valuation and financial due diligence. This conclusion is intentionally neutral. It should not be interpreted as an instruction or recommendation to purchase or to bid at the auction. The ultimate decision should be based on the purchaser's own investment objectives, financial capacity and independent advice from the relevant professional advisers. ________________________________________ PAGE 15 – IMPORTANT DISCLAIMER This report is a preliminary due diligence and investment assessment prepared from information available for review. It does not constitute: • legal advice; • a formal valuation; • structural or engineering certification; • tax advice; • financing advice; or • a guarantee of investment performance. The purchaser should independently verify all material matters with the relevant solicitors, valuers, engineers, authorities and other professional advisers. The official Proclamation of Sale, registered titles, land searches and court documents shall prevail in the event of any inconsistency with this report. The purchaser should also verify the current auction status and all terms immediately before taking any action. Prepared for: Prospective Purchaser / Investor Property: Maju Junction – 38 Strata Parcels Reserve Price: RM353,950,000 Report Status: Final Preliminary Due Diligence Assessment