The Board of Directors of Sunway wishes to announce that Umech Land Sdn Bhd (“Umech Land”), a 70%-owned subsidiary of Sunway, has on 27 September 2023, entered into a Joint Development Agreement (“JDA”) with Penang Development Corporation (“PDC”) to specify each party’s rights and obligations in respect of the joint development of the parcels of land located in Mukim 11, Changkat/Byram, Daerah Seberang Perai Selatan, Pulau Pinang measuring approximately 558.96 acres (“Land”).

Please refer to the attachment below for further details.

This announcement is dated 27 September 2023.