Reference is made to the earlier announcements made on 28 July 2021, 8 October 2021, 16 & 31 March 2022, 20 & 26 September 2022, 26 October 2022, 20 March 2023, 15 & 28 June 2023, 6, 10 & 27 July 2023, 22 August 2023 and 9 January 2025 in relation to the rights issue of up to 1,583,196,991 new ordinary shares together with up to 527,732,330 free detachable warrant B (Rights Issue with Warrants). The Company had on 28 August 2023 announced to Bursa Malaysia Securities Berhad on the completion of the Rights Issue with Warrants that the Company raised a total proceed of RM67,984,000.

The Board of Directors (Board) of Oversea wishes to inform that as at 28 August 2025, the Company has yet to fully utilise the proceeds raised from the Right Issues with Warrants and the Board requires additional time to utilise the balance proceeds amounting to approximately RM13.830 million for the expansion of new restaurants, digital transformation, acquisition and/or investment in other complementary business and/or assets and working capital (Extension of Time).

The Board has resolved to extend the time frame for the utilisation of the said proceeds for another 12 months period from 28 August 2025 to 27 August 2026 (Revised Time Frame) to provide additional time for the Group to utilise the balance of proceeds for the expansion of new restaurants, digital transformation, acquisition and/or investment in other complementary business and/or assets and working capital. Details of the Revised Time Frame are as set out in the table below:

The Revised Time Frame does not require the approval of any regulatory authorities or the shareholders of Oversea.

The Board, having considered all aspects of the proposed Extension of Time, is of the opinion that it will not have material adverse effect on the financial performance of the Group and is in the best interest of the Group.

The Company shall continue to be vigilant and prudent in managing the remaining proceeds raised from the Right Issues with Warrants and will continue to disclose the status of the utilisation in the Company's quarterly results and annual reports until it is fully utilised.

This announcement is dated 28 August 2025.