Pharmaniaga Berhad : Circular to Shareholders for the 24th AGM

THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.

If you are in any doubt as to the course of action to be taken, you should consult your stockbroker, TbHanISkCmIRaCnUaLgAeRr, IsSoIlMicPitOoRr,TaAcNcToAuNnDtaRntEoQrUoIRthEeSrYpOrUoRfeIsMsMioEnDaIlAaTdEvAisTeTrEsNiTmIOmNe.diately.

TIfHyIoSuCaIRreCUinLAanRyISdoIMuPbOt RasTAtoNTthAeNcDoRurEsQeUoIRf EaSctYioOnUtRo IbMeMtEaDkeIAnT,EyoAuTTsEhNoTuIlOdNc. onsult your stockbroker, Bursa Malaysia Securities Berhad (Bursa Malaysia) has not perused the contents of this Circular bank manager, solicitor, accountant or other professional advisers immediately.

prior to its issuance as it is an exempt document pursuant to Paragraph 2.1 of Practice Note 18 of If you are in any doubt as to the course of action to be taken, you should consult your stockbroker, the Main Market Listing Requirements of Bursa Malaysia.

bank manager, solicitor, accountant or other professional advisers immediately.

Bursa Malaysia Securities Berhad (Bursa Malaysia) has not perused the contents of this Circular

THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.

prior to its issuance as it is an exempt document pursuant to Paragraph 2.1 of Practice Note 18 of Bursa Malaysia takes no responsibility for the contents of this Circular, makes no representation tBIfhuyerosMuaaaiMrneaMlianayrasknieayt SdLeoiscutubinrtigtaiseRsteoqBtuehirehecamodeu(nrBtssuerosffaBaMcutarisloanyMstoialb)aehysataisak.neno,t ypoeurussheodutldhecocnosnuteltnytsouorf stthoisckCbirockuelar,r as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss bparinokr tmoaintsagisesru, asnoclieciatosri,taicscaonunextaenmtpotrdoothceurmpernotfepsusrisounaanltatdovPisaerrasgirmapmhe2d.i1atoeflyP.ractice Note 18 of howsoever arising from or in reliance upon the whole or any part of the contents of this Circular. the Main Market Listing Requirements of Bursa Malaysia.

Bursa Malaysia takes no responsibility for the contents of this Circular, makes no representation BasurtsoaitMs alcacyusriacSyeocurrcitoiemspBleeterhnaedss(BaunrdsaexMparelasyssliya)dhisacslanimotspaenryuslieadbitlhiteycwohnattesnotesvoefrtfhoirsaCniyrcluolsasr phBrouiworsrsatooMeviateslariyassrsiusaaintnagckefersoasmnoitorirseisnapnroeenlixsaeinbmcilepittyudpfocrnutthmheencwot hnpotuelrenstousraonaftntyohpisPaarCtriaorgcfrutahlaperh,c2mo.n1atkeoenfstPsnraocfrtteihcpiesreNCsoiertncetua1lta8iroo.nf tahsetoMaitisn aMcacrukreatcLyisotrincgomRepqleutierenmesesntasnodfeBxuprseassMlyaldaiysscilaa.ims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Circular.

Bursa Malaysia takes no responsibility for the contents of this Circular, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or inPreHliaAncRe uMpoAnNthIeAwGhoAle oBr aEnyRpHartAofDthe contents of this Circular.

(Company Registration No.: 199801011581 (467709-M))

(Incorporated in Malaysia)

PHARMANIAGA BERHAD

(Company Registration No.: 199801011581 (467709-M))

PHARMANIAGA BERHAD

CIRCULAR TO SHAREHOLDERS

(Incorporated in Malaysia)

(Company Registration No.: 199801011581 (467709-M))

(Incorporated in Malaysia)

IN RELATION TO

PHCIARCRUMLAARNTOIASGHAAREBHOELRDHERASD

PROPOSED RENEWA(LCoOmFpaSnyHRAeRgiEstHraOtioLnDNEo.R:1S9'9M80A10N11D5A81TE(46F7O70R9-MR)E) CURRENT RELATED

CIRCULIANRRTEOLASTHIAORNETHOOLDERS

PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE

(Incorporated in Malaysia)

PROPOSED RENEWAL OF SHAREIHNORLEDLEARTSIO' MNATNODATE FOR RECURRENT RELATED

PARTY TRANSACCIRTICOUNLSAORFTAO RSEHVAERNEUHEOLODRETRRSADING NATURE

ThPeRreOsoPlutOionSpEerDtainRinEgtNo EtheWaAboLve OPrFopoSsaHl Ais RseEt oHutOinLthDe ENoRticSe'oMf thAe NCoDmApaTnyE's FTwOenRty-RFoEurCthUAnRnuRaElGNenTerRal EMeLeAtinTg E(2D4 th AGM) which is attached in the enclosed Integrated Report and is also available to be downloaded from the Company's website atwww.pharmaniaga.PcoAmRorTBYursTaRMAalaNysSiaA's CweTbIsOiteNaSt wOwwF.buArsaRmEalaVysEiaN.cUomE. TOheR24TRAGAMDwINill Gbe cNoAndTucUtedReEntirely through live streaming from the broadcast venue at Royale Chulan Damansara, 2A, Jalan PJU 7/3, Mutiara Damansara, 47810 Petaling Jaya, Selangor TDhaerurleEshosluatnioonnp1e3rtaJiunnineg2t0o22thaeta9b.3o0vea.Pmr.oposal is set out in the Notice of the Company's Twenty-Fourth Annual General Meeting (24th

IN RELATION TO

th

AGPMR) OwhPicOh Sis EatDtachRedENin EthWe eAncLlosOedFInSteHgraAteRd EReHpOortLaDndEisRaSls'oMavAailNabDle AtoTbEe dFoOwnRloaRdeEd CfroUmRthRe ECNomTpaRnyE'sLwAebTsiEteDat

In line with the revised Guidance and FAQs on the Conduct of General Meetings for Listed IAssGuMerswisllsbuedcobnydtuhceteSdeceunrtiitrielsy Cthormoumgihssliovne The resolution pertPainAinRgtToYtheTaRboAveNPSroApoCsaTl iIsOsNet SoutOinFthAe NRotiEceVoEftNheUCEomOpaRny'sTTRwAenDtyI-FNoGurthNAAnnTuaUlGReEneral Meeting (24th

www.pharmaniaga.com or Bursa Malaysia's website at www.bursamalaysia.com. The 24th

Mstraelaymsiinagofnro1m6thJeulbyr2o0a2d1c,astht avtenlisutedatisRsuoeyarsleaCrehuelnacnoDuaramgaendstaorac,o2nAti,nJuaelalenvPeJraUg7in/3g,tMecuhtinaoraloDgyaminacnosnadrau,c4ti7n8g1g0ePnetrallinmgeJeatyinag,sSebleaynognodr AGM) which is attached in the enclosed Integrated Report and is also available to be downloaded from the Company's website at MDaorvuelmEehnstanContr1o3l OJurnder2, 0th2e2 2a4t t9h .A30GMa.mw.ill be conducted on a virtual basis through live streaming whilst the online remote voting will bewww.pharmaniaga.com or Bursa Malaysia's website at www.bursamalaysia.com. The 24th AGM will be conducted entirely through live via Remote Participation and Voting (RPV). Both facilities are available on Tricor Investor & Issuing House Services Sdn Bhd's (Tricor) TIIH streaming from the broadcast venue at Royale Chulan Damansara, 2A, Jalan PJU 7/3, Mutiara Damansara, 47810 Petaling Jaya, Selangor IOnnlliine wiethbsthite aretvhisttepds:/G/tuiihid.aonclineea.nPdleFaAseQsfoollonwthteheCpornodcuecdtuoref sGpernoevriadleMd ienethinegAsdfomrinListreadtivIsesNueortsesisfsourethdeb2y4tthe Securities Commission pMaarltaicyispiateonan1d6vJoutelyr2e0m2o1t,eltyhavtialisthtedRisPsVuefarscilaitriese. ncouraged to continue leveraging technology in conducting general meetings beyond The resolution pertaining to the above Proposal is set out in the Notice of the Company's Twenty-Fourth Annual General Meeting (24th

AGM in order to register,Darul Ehsan on 13 June 2022 at 9.30 a.m.

Movement Control Order, the 24th AGM will be conducted on a virtual basis through live streaming whilst the online remote voting will be AGM) which is attached in the enclosed Integrated Report and is also available to be downloaded from the Company's website at In line with the revised Guidance and FAQs on the Conduct of General Meetings for Listed Issuers issued by the Securities Commission AviaPRroexmy oFtoermPairstiactipt acthioendatnodgeVthoetinr gwi(tRhPthVe).pBoosthcafardcioliftiePsharme anvaiailgaablBeeornhaTdr.icIonrvIinevwesthtoart &theIs2su4itnh gAGHMouwseillSbervciocnedsuScdtendBohnd'asv(Tirtruicaolrb)aTsIIisH,www.pharmaniaga.com or Bursa Malaysia's website at www.bursamalaysia.com. The 24th AGM will be conducted entirely through live Malaysia on 16 July 2021, that listed issuers are encouraged to continue leveraging technology in conducting general meetings beyond Online website athttps://tiih.online. Please follow the procedures provided in the Administrative Notes for the 24th sytorueamainygafprpomointthethberoCahdaciramstavneonfuteheatMReoeytianlge CashuyloaunrDparomxaynasnadrai,n2dAic,aJtaelathnePvJoUtin7g/3i,nMsturuticatriaonDainmthaensParoax, y47F8o1rm0AP.GPeMtlaelaiinnsgeorJcdaoeymratp,olSereteelga,insgtiegornr, Movement Control Order, the 24th AGM will be conducted on a virtual basis through live streaming whilst the online remote voting will be paanrdticdieppaotesiatnthdevoPtreoxreymFootermly avitaththeeoRffPicVefoafcitlhiteiesC.ompany's Share Registrar, Tricor, located at Unit 32-01, Level 32, Tower A, Vertical Darul Ehsan on 13 June 2022 at 9.30 a.m.

via Remote Participation and Voting (RPV). Both facilities are available on Tricor Investor & Issuing House Services Sdn Bhd's (Tricor) TIIH Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur or its Customer Service Centre at Unit G-3, Ground Online website athttps://tiih.online. Please follow the procedures provided in the Administrative Notes for the 24th AGM in order to register, pInarlitniceipwaittehathned rveovteiseredmGouteidlyanvciaethaendRFPAVQfascoilnitiethse. Conduct of General Meetings for Listed Issuers issued by the Securities Commission you may appoint the Chairman of the Meeting as your proxy and indicate the voting instruction in the Proxy Form. Please complete, sign M9.3a0layas.mia. oYnou16mJauylya2ls0o2s1u, bthmait ltihsetepdroisxsyuearpspoairnetmenecnot uerlaegcetrdontoicaclolyntviniaueTrliecvoer'rsaTgiInIHg Otenclhi neolwogeybsinitecoant dhuttcptsin:/g/tigihe.onnelrianlemneoeltaintegrsthbaenyotnhde abnodvdeempeonstiitotnhedPdraotxey. Form at the office of the Company's Share Registrar, Tricor, located at Unit 32-01, Level 32, Tower A, Vertical Movement Control Order, the 24th AGM will be conducted on a virtual basis through live streamthing whilst the online remote voting will be A Proxy Form is attached together with the postcard of Pharmaniaga Berhad. In view that the 24 AGM will be conducted on a virtual basis, Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur or its Customer Service Centre at Unit G-3, Ground yvoiauRmeamyoateppPoairntitctihpeatCiohnaairnmdaVnootifntgh(eRMPeVe).tiBngothasfaycoiluitriepsroaxrey avnadilainbdliecaotneTthriecovroItninvgesintosrtr&ucIstisounining tHhoeuPseroSxyerFvoicrems.SPdlenaBshedc'som(Tprilceoter), TsiIgIHn LFalosotrd,aVteratincadltPimoedifuomr l,oAdvgeinnguethe3,PBroaxnygsFaorrmSouth, No. 8, Jalan Kerin:cShai,tu5r9d2a0y0, 1K1uJaulaneLu2m02p2ura,tn9o.3la0tear.mth.an Saturday, 11 June 2022 at Online website athttps://tiih.online. Please follow the procedures provided in the Administrative Notes for the 24th AGM in order to register, and deposit the Proxy Form at the office of the Company's Share Registrar, Tricor, located at Unit 32-01, Level 32, Tower A, Vertical 9.30 a.m. You may also submit the proxy appointment electronically via Tricor's TIIH Online website athttps://tiih.online no later than the Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur or its Customer Service Centre at Unit G-3, Ground abovementioned date.

AFloPoror,xVyeFrotircmalisPaodttiaucmh,edAvtoegneutehe3r,wBiathntghsearpoSsotcuathrd, Noof P. 8h,arJmalaniaKgeariBnechrhi,a5d9. 2In00vieKwuathla tLtuhme p2u4r,th AnoGMlatwerillthbaencoSnadturcdtaeyd,o1n1aJvuinrteua2l0b2a2siast,pDartteicaipnadtetimanedovfottheerTemweontetyly-FvoiaurttheARnPnVuaflaGcielitni esra. l Meeting

: Monday, 13 June 2022 at 9.30 a.m.

Floor, Vertical Podium, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur, no later than Saturday, 11 June 2022 at A Proxy Form is attached together with the postcard of Pharmaniaga Berhad. In view that the 24th AGM will be conducted on a virtual basis, 9.30 a.m. You may also submit the proxy appointment electronically via Tricor's TIIH Online website athttps://tiih.online no later than the you may appoint the Chairman of the Meeting as your proxy and indicate the voting instruction in the Proxy Form. Please complete, sign

Last date and time for lodging the Proxy Form abovementioned date.

Date and time of the Twenty-Fourth Annual General Meetingand deposit the Proxy Form at the office of the Company's Share Registrar, Tricor, located at Unit 32-01, Level 32, Tower A, Vertical LBaustindeastes Sanuditet,imAevefonruleod3g, iBnagntghseaPr rSooxuythF,oNrmo.T8h,JiaslaCniKrecruinlcahri, i5s92d0:a0StKaetuduarld2aa9Ly,uAm11puJrurilnoe2ri02ts02C222usatto9m.3e0r Sae.mrv.ice Centre at Unit G-3, Ground

: Saturday, 11 June 2022 at 9.30 a.m. : Monday, 13 June 2022 at 9.30 a.m.

Floor, Vertical Podium, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur, no later than Saturday, 11 June 2022 at Date and time of the Twenty-Fourth Annual General Meeting : Monday, 13 June 2022 at 9.30 a.m.

9.30 a.m. You may also submit the proxy appointment electronically via Tricor's TIIH Online website athttps://tiih.online no later than the abovementioned date.

This Circular is dated 29 April 2022

Last date and time for lodging the Proxy Form

Date and time of the Twenty-Fourth Annual General Meeting

This Circular is dated 29 April 2022

: Saturday, 11 June 2022 at 9.30 a.m. : Monday, 13 June 2022 at 9.30 a.m.

This Circular is dated 29 April 2022

DEFINITIONS

Except where the context otherwise requires, the following definitions shall apply throughout this Circular:

"Act"

• - Companies Act 2016 including all amendments made from time to time and any re-enactment thereof

  "AGM"

• - Annual General Meeting

  "Integrated Report 2021"

• - Integrated Report for the financial year ended 31 December 2021

  "Board"

  "BHB"

  "Boustead Travel Services"

  "Bursa Malaysia"

  "CMSA"

  "Director"

  "Listing Requirements"

  "LPD"

  "LTAT"

  "Major Shareholder"

• - Board of Directors of Pharmaniaga Berhad

• - Boustead Holdings Berhad (196001000193 (3871-H))

• - Boustead Travel Services Sdn Bhd (197201000101 (11708-P))

• - Bursa Malaysia Securities Berhad

• - Capital Markets and Services Act, 2007, including all amendments made from time to time and any re-enactment thereof

• - Shall have the meaning given in Section 2(1) of CMSA and for the Proposal include any person who is or was within the preceding 6 months of the date on which the terms of the transactions were agreed upon, a Director of Pharmaniaga or any other company which is its subsidiary or holding company; or chief executive of Pharmaniaga, its subsidiary or holding company

• - Main Market Listing Requirements of Bursa Malaysia including any amendments, modifications and additions made there to from time to time and any Practice Notes issued in relation thereto

• - 31 March 2022, being the latest practicable date which shall not be more than 30 days prior to the date of Circular

• - Lembaga Tabung Angkatan Tentera, a statutory body established under the Tabung Angkatan Tentera Act 1973

• - A person who has (which includes any person who is or was within the preceding 6 months of the date on which the terms of the transaction were agreed upon) an interest or interests in one or more voting shares in Pharmaniaga or any other company which is Pharmaniaga's subsidiary or holding company, and the number or aggregate number of those shares, is :

  • (a) 10% or more of the total number of voting shares in Pharmaniaga; or

  • (b) 5% or more of the total number of voting shares in Pharmaniaga where such person is the largest shareholder in Pharmaniaga.

  For the purpose of this definition, "interest" shall have the meaning of "interest in shares" given in Section 8 of the Act.

  "Mandate"

• - The shareholders' mandate obtained for Pharmaniaga Group to enter into Recurrent Related Party Transactions

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DEFINITIONS (cont'd)

"Pharmaniaga" or "the Company"	-	Pharmaniaga Berhad (199801011581 (467709-M))
"Pharmaniaga Group" or "the	-	Pharmaniaga and its subsidiary companies
Group"
"Person Connected"	-	Shall be as defined in Chapter 1 of the Listing Requirements
"Proposal" or "Proposed Renewal	-	Proposed renewal of the 2021 Mandate
of Shareholders' Mandate"
"Recurrent Related Party	-	Recurrent related party transaction(s) of a revenue or trading nature which is
Transactions" or "RRPT(s)"	necessary for the day to day operations and is entered into by the Company or
its subsidiaries in the ordinary course of business which involves the interest,
direct or indirect, of a Related Party(ies)
"Related Party(ies)"	-	A Director, Major Shareholder or a Person Connected with such Director or
Major Shareholder
"Related Party Transaction(s)"	-	Transaction(s) entered into by Pharmaniaga or its subsidiaries which involve(s)
the interest, direct or indirect, of Related Party(ies)
"2021 Mandate"	-	The shareholders' mandate obtained on 16 June 2021 for Pharmaniaga Group
to enter into RRPTs
"2022 Mandate"	-	The shareholders' mandate to be obtained at the Company's forthcoming AGM
for Pharmaniaga Group to enter into RRPTs during the Validity Period
"Validity Period"	-	The validity period of the Proposal commencing from the passing of the ordinary
resolution relating to the Proposal on 13 June 2022 until:

• (a) the conclusion of the next AGM of the Company following the forthcoming AGM at which time it shall lapse, unless the authority is renewed by a resolution passed at the said next AGM; or

• (c) the expiration of the period within which the next AGM of the Company after the date it is required to be held pursuant to Section 340(2) of the Act (but shall not extend to such extensions as may be allowed pursuant to Section 340(4) of the Act); or

• (c) revoked or varied by resolution passed by the shareholders in a general meeting

whichever is earlier.

Words importing the singular shall, where applicable, include the plural and vice versa and words denoting the masculine gender, shall, where applicable, include the feminine gender and vice versa. Words importing persons shall include corporations.

Any reference to any enactment is a reference to the enactment as for the time being amended or re-enacted. Any word defined under the Act and used in this Circular shall have the meaning assigned to it under the Act.

Any reference to a time of day in this Circular shall be a reference to Malaysian time, unless otherwise stated.

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CONTENTS

Page

• 1. INTRODUCTION …………………………………………………………………………………………………………… ..1

• 2. DETAILS OF THE PROPOSAL ……………………………………………………………………………………… ..…2-6

• 3. STATEMENT BY AUDIT COMMITTEE …………………………………………………………………………………… 6

• 4. RATIONALE AND BENEFIT ……………………………………………………………………………………………… 6-7

• 5. CONDITION OF THE PROPOSAL ......................................................................................................................... 7

• 6. INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND PERSONS CONNECTED TO THEM…… ........ 7-8

• 7. DIRECTORS' RECOMMENDATION ……………………………………………………………………………………… .8

• 8. ACTION TO BE TAKEN BY SHAREHOLDERS ………………………………………………………………………… ..8

• 9. ANNUAL GENERAL MEETING ……………………………………………………………………………………… ..…...8

• 10. FURTHER INFORMATION ………………………………………………………………………………………………… .8

APPENDIX I

FURTHER INFORMATION ……………………………………………………………………………………………… ..……9-10

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PHARMANIAGABERHAD

(Company Registration No.: 199801011581 (467709-M))

(Incorporated in Malaysia under the Companies Act 2016)

Registered Office:

28th Floor, Menara Boustead

69, Jalan Raja Chulan

50200 Kuala Lumpur

29 April 2022

The Board of Directors

1	Datuk Seri Zainal Abidin	Non-Independent Non-Executive	Appointed on 1 February 2022
Mohd Rafique	Chairman
2.	Datuk Zulkarnain Md Eusope	Group Managing Director
3.	Zulkifli Jafar	Group Executive Director
4.	Dato' Sri Mohammed Shazalli	Non-Independent Non-Executive
Ramly	Director
5.	YB Senator Datuk Dr. Haji	Independent Non-Executive Director
Azhar Ahmad
6.	Dato' Dr. Najmil Faiz	Independent Non-Executive Director
Mohamed Aris
7.	Dr. Abdul Razak Ahmad	Independent Non-Executive Director
8.	Izaddeen Daud	Non-Independent Non-Executive
Director
9.	Sarah Azreen Abdul Samat	Independent Non-Executive Director	Appointed on 20 August 2021

To: The Shareholders of PHARMANIAGA BERHAD

Dear Sir/Madam,

PROPOSED RENEWAL OF SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE (PROPOSAL)

1 INTRODUCTION

At the Twenty-Third AGM held on 16 June 2021, the Company obtained the 2021 Mandate for Pharmaniaga Group to enter into RRPTs. The 2021 mandate shall, in accordance with the Listing Requirements, lapse at the conclusion of the forthcoming AGM unless authority for its renewal is obtained from the shareholders of the Company at the forthcoming AGM.

Accordingly, the Company had on 28 April 2022, announced its intention to seek shareholders' approval on the Proposal at the forthcoming AGM.

The purpose of this Circular is to provide you with information relating to the Proposal and to seek your approval on the ordinary resolution pertaining to the Proposal to be tabled at the forthcoming AGM. Notice of the AGM together with the Proxy Form is enclosed in the Integrated Report 2021 of the Company.

SHAREHOLDERS ARE ADVISED TO READ THE CONTENTS AND THE APPENDIX OF THIS CIRCULAR AND TO CONSIDER CAREFULLY THE RECOMMENDATIONS BEFORE VOTING ON THE ORDINARY RESOLUTION PERTAINING TO THE PROPOSAL.

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