DESTINI BERHAD (“DESTINI” OR “COMPANY”)

LETTER OF AWARD – CONTRACT FOR THE PROCUREMENT, SUPPLY AND DELIVERY OF

70MM ROCKETS (2.72 INCH) TO THE MALAYSIAN ARMY

1. INTRODUCTION

The Board of Directors of Destini is pleased to announce that Destini Prima Sdn Bhd (“DPSB”),
a wholly-owned subsidiary of Destini, had on 27 June 2023, accepted a letter of award from
Ministry of Defence Malaysia for the procurement, supply and delivery of 70MM rockets (2.72
inch) to the Malaysian Army (“Contract”). The value of the Contract is approximately RM18.75
million.

2. SALIENT TERMS OF THE CONTRACT

The salient terms of the Contract are as follows:

(i) The tenure of the Contract is two (2) years starting from 27 June 2023 to 26 June 2025;
and

(ii) DPSB is required to provide a performance bond of RM468,733.01.

3. RISK FACTORS

The risk factors affecting the Contract includes the non-fulfilment of the salient terms of the
Contract as set out in Section 2 of this Announcement, which will lead to the termination of the
Contract. However, DPSB will take all reasonable steps to ensure that the salient terms of the
Contract are met.

4. FINANCIAL EFFECTS

The Contract will not have any effect on the issued and paid-up share capital and the
shareholding of the substantial shareholders of Destini as it does not involve the issuance of
ordinary shares in Destini.

The Contract is expected to contribute positively to the earnings and net assets of Destini for
the financial periods ending 31 December 2023 and the financial periods in the duration of the
Contract.

5. APPROVAL REQUIRED

The Contract is not subject to Destini shareholders’ approval.

Save for the above, Contract is not conditional upon any other corporate proposal of Destini.

6. INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED

WITH THEM

None of the Directors or major shareholders of Destini, or persons connected with them, have
any interest, direct or indirect, in the Contract.

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7. DIRECTORS’ STATEMENT

The Board of Directors of Destini, after having considered all aspects of the Contract, is of
opinion that accepting the Contract is in the best interest of Destini.

This Announcement is dated 28 June 2023.