Malaysia Marine and Heavy Engineering : Uzma and MHB Collaborate as Oil and Gas Prospect Improves

PRESS RELEASE - FOR IMMEDIATE RELEASE

Uzma and MHB Collaborate as Oil and Gas Prospect Improves

KUALA LUMPUR (3 JULY 2023) - Uzma Berhad ("Uzma"), a leading Malaysian energy and technology company providing integrated solutions and innovative services across Southeast Asia, via its wholly-owned subsidiary, Uzma Engineering Sdn. Bhd. ("UESB") and Malaysia Marine and Heavy Engineering Sdn. Bhd. ("MMHE"), a wholly-owned subsidiary of Malaysia Marine and Heavy Engineering Holdings Berhad ("MHB"), a globally trusted energy and marine solutions provider for a wide range of offshore and onshore facilities and vessels are pleased to announce their recent signing of a Memorandum of Understanding (MoU) for a strategic collaboration. This strategic partnership aims to explore potential collaborations, develop innovative solutions, and provide comprehensive services to meet the increasing demands of the oil and gas industry.

Both Uzma and MHB, leaders in their respective fields, will leverage their combined expertise and resources to create mutually beneficial opportunities. Through this collaboration, Uzma, renowned for its proficiency in well and production solutions, and MHB, acclaimed for its expertise in construction, conversion, repair, and maintenance for offshore facilities, will undertake joint efforts to identify and pursue selected prospects that align with their interests and capabilities where they will develop solutions and offer a diverse range of services.

Apart from catering to their targeted market of floaters* which are among the core business of Uzma and MHB, this partnership will also enable both companies to explore opportunities within the renewable energy solutions, which are crucial in developing sustainable solutions for our clients. To achieve mutual benefits, the scope of services offered by each party will be defined during the proposal development phase and before entering into contracts with interested clients.

The signing ceremony of MoU, held at Menara Dayabumi, Kuala Lumpur, saw the presence of key representatives from UESB - Mohd Shahrin Saad, Chief Executive Officer (CEO) of Production Solutions and Rizal Mohd Arifin, Chief Business Officer of Production Solutions - and MMHE - Ir. Hisham Haron, Senior General Manager of Marine Business and Shahrin Albakri Mustafa Albakri, Senior General Manager of Legal, Corporate Secretarial & Compliance. Dato' Kamarul Redzuan Muhamed, Group CEO of Uzma, and Pandai Othman, Managing Director & Chief Executive Officer (MD & CEO) of MHB, witnessed the signing ceremony, underscoring their commitment to this strategic collaboration.

Dato' Kamarul expressed his enthusiasm for the partnership, stating "Together with MHB, we aim to bring about innovative solutions and a comprehensive range of services that meet the ever-evolving demands of the industry. This partnership signifies the strength of our shared vision, where growth, innovation, and sustainable

development intersect. We are committed to maximising the benefits of local expertise, fostering economic prosperity, and positioning Malaysia as a hub of excellence in the oil and gas industry."

Pandai Othman echoed the sentiment, saying "By joining forces with Uzma, we are pooling our expertise and resources to create a powerful alliance. Together, we will redefine and deliver comprehensive solutions that enhance operational efficiency and promote sustainable services. This MoU signing sets the stage for an exciting era of collaboration between Uzma and MHB. We hope this marks the beginning of a long-lasting partnership where we will make significant contributions to the sector's growth and development."

This strategic collaboration between Uzma and MHB underscores their commitment to driving innovation, delivering exceptional solutions, and contributing to the overall development of the oil and gas industry. As they combine their strengths, expertise, and resources, both parties are poised to play a pivotal role in shaping the industry's future.

*Note:

Floaters include Floating Storage and Offloading unit (FSO), Floating Production Storage and Offloading unit (FPSO), Floating Storage Unit (FSU), Floating Storage Regasification Unit (FSRU), Mobile Offshore Production Unit (MOPU), Mobile Offshore Drilling Unit (MODU), Floating Production Unit (FPU).