1. Introduction

The Board of Directors of Uzma ("Uzma" or "the Company") is pleased to announce that MMSVS Group Holding Co. Ltd. Thailand ("MMSVS"), a foreign subsidiary of the Company has accepted a contract award from PTTEP International Limited (“PTTEPI”) for the Contract No. MMC23-5067: Provision of Standard and Special Application of Coiled Tubing and Pumping Services for Zawtika Operations (Backup Contract) ("Contract") pursuant to PTTEPI's contract issued to MMSVS on 16th April 2024. The acknowledgement for the release of this announcement was obtained from PTTEP on 10th May 2024.

2. Salient Terms

The salient terms of the Contract are as follows: -

(a) the scope of works on call-out basis, comprises of the provision of Standard and Special Application of Coiled Tubing and Pumping Services for Zawtika Operation (Backup contract) to perform the services as required by PTTEPI;

(b) The Contract is set to be become effective on 1st May 2024 and shall remain valid until and include 30th June 2026 (“Contract Period”); and

(c) the estimated value of the Contract is USD 9,271,320 in equivalent to Ringgit Malaysia Forty-Three Million Nine Hundred Thousand (RM43,900,000.00) only;

(d) The Contract is awarded to MMSVS subject to the approval of relevant government authority if it is applicable.

3. Risk Factors

Potential risk factors include project operational and execution risks, work schedules, delivery timelines and adverse weather conditions.

4. Financial Effects

The Contract will not have any effect on the share capital and shareholding structure of the Company as it does not involve the issuance of ordinary shares in the Company. However, it is expected to contribute positively towards the earnings and net assets per share of the Company for the financial year ending 30th June 2024 and onwards until the expiry of the Contract.

5. Directors’ and Major Shareholders’ Interests

None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of Uzma has any direct or indirect interest in the Contract.

6. Directors’ Statement

The Board of Directors of the Company, after considering all the relevant factors, is of the opinion that the acceptance of the Contract is in the best interest of the Company.

This announcement is dated 13th May 2024.