Kumpulan Perangsang Selangor Berhad : KPS’ 20%-Associate Receives Conditional Offer for the Acquisition of Entire Stake in SPRINT

• Offer at Enterprise Value of RM1,808 million for the entire equity interest of SPRINT
• 20%-associate SPRINT Holdings to revert decision by 30 April 2022

Shah Alam, Malaysia, 4 April 2022 - Kumpulan Perangsang Selangor Berhad ("KPS" or "the Company" or "the Group", Bursa: 5843; Bloomberg: KUPS MK; Reuters: KPSB.KL) today announced that its 20% associate company System Penyuraian Traffik KL Barat Holdings Sdn Bhd ("SPRINT Holdings") received a Letter of Offer from Amanat Lebuhraya Rakyat Berhad ("ALR") to acquire entire equity interest of System Penyuraian Traffik KL Barat Sdn Bhd ("SPRINT"). ALR is a public limited company incorporated under the Companies Act 2016, having the mandate of the Government of Malaysia ("GoM") for the proposed restructuring of certain tolled highway concessions. KPS has a 20% interest in SPRINT via its associate company, SPRINT Holdings.

For an offer consideration at an enterprise value ("EV") of approximately RM1,808 million, the offer is conditional upon satisfactory due diligence findings and approvals from relevant parties, including the GoM, authorities and shareholders. The offer will be valid until 5.00 pm on 30 April 2022. In addition, a definitive agreement ("DA") between SPRINT Holdings and ALR shall be entered into no later than 31 July 2022 or another extended date that is mutually agreed upon by both parties. Based on the aforesaid EV, the anticipated equity value of SPRINT is RM904 million, of which KPS' share would be RM180.8 million.

KPS' Managing Director/Group Chief Executive Officer, Ahmad Fariz Hassan,said:

"With the proposed acquisition by ALR, we are a step closer to the resolution of the restructuring of certain tolled highway concessions. This corporate development is certainly not a loss to the Group, as we can focus further on the value creation plans, unlocking the full potential of our core business. It shall also support our long-term strategic objective of strengthening the Group's fundamentals and enhancing KPS' strategic positioning and brand equity in the marketplace."

Upon the execution of the DA, the proposed acquisition shall be subject to the following conditions precedent ("CP"), to be satisfied within a certain period from the execution date which is to be agreed between parties in the DA. The CPs include evidence that approval from the existing lenders of SPRINT and/or SPRINT Holdings for the refinancing of their indebtedness shall have been obtained and a fund-raise by ALR to make all payments to complete the proposed acquisition as per the terms of the DA shall have been successful.

The Board of KPS will make the necessary announcement in due course after going through the due process internally and with SPRINT Holdings.

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About Kumpulan Perangsang Selangor Berhad (www.kps.com.my)

Incorporated on 11 August 1975, Kumpulan Perangsang Selangor Berhad ("KPS" or "the Company" or "the Group") is an investment holding company listed on the Main Market of Bursa Malaysia Securities Berhad under the Industrial Products & Services Sector. KPS has core investments in the Manufacturing sector. While enhancing shareholder value by optimising returns, KPS is committed to contributing toward sustainable economic, environmental, and social development.

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