The Board of Directors of TAFI Industries Berhad ("TAFI") announced that TAFI Home & Office Sdn Bhd ("THOSB"), a wholly owned subsidiary of TAFI, has on 15 February 2023 accepted a contract awarded by TT5 Theme Assets Sdn Bhd for the construction, test and commission, completion and hand-over for theme park work located at H.S.D. 248822, PT16956, Mukim Tanjong Tualang, Daerah Kinta, Perak for a contract sum of MYR 11,000,000 including Sales and Services Tax if any. The Contract period as set out in the Letter of Award is 18 months from the date of the Letter of Award. The defects liability period is 12 months from issuance of Certificate of Practical Completion.

The Contract will not have any effect on the issued and paid-up share capital of TAFI and on the substantial shareholder's shareholdings of TAFI. The Contract is expected to contribute positively to the earnings and NTA of the Company for the financial years ending 31 December 2023 and 31 December 2024. None of the Directors and/or substantial shareholders of TAFI and/or any persons connected to the Directors and substantial shareholders of TAFI have any interest, direct or indirect in the Contract.