Velesto Energy Berhad : - 12th AGM Proxy Form

PROXY FORM

I/We

(Name as per NRIC / Passport / Certificate of incorporation in capital letters)with (New NRIC/Old NRIC/Passport/Company No.)

of

(full address in capital letters)

Contact No.:

Email Address:

being a member of VELESTO ENERGY BERHAD (Registration No. 200901035667(878786-H)(Company), do hereby appoint

*

(Name as per NRIC / Passport in capital letters)

with (New NRIC/Old NRIC/Passport/Company No.)

of

(full address in capital letters)

Contact No.:

Email Address:

or failing him/her,

(Name as per NRIC / Passport in capital letters)with (New NRIC/Old NRIC/Passport/Company No.)

of

(full address in capital letters)

Contact No.:

Email Address:

or failing him/her,

*Chairman of the Meeting,

(* Please tick one (1) box only)

as my/our proxy to vote for me/us and on my/our behalf at the 12th Annual General Meeting (AGM) of the Company which will be conducted entirely through live streaming from the Kristal Hall 1, TM Convention Centre, Menara TM, Jalan Pantai Baharu, 50672 Kuala Lumpur, Malaysia (Broadcast Venue) on Tuesday, 28 June 2022 at 2.00 p.m. or at any adjournment thereof.

My/Our proxy is to vote as indicated below:

(Please indicate with an "X" in the appropriate box against each resolution how you wish your proxy to vote. If no instruction is given, this form will be taken to authorise the proxy to vote at his/her discretion).

ORDINARY RESOLUTIONS

FORAGAINST

To re-elect Datuk Tong Poh Keow, whom retires in accordance with Article 96 of the Company's Constitution and being eligible, offer herself for re-election.

Ordinary resolution 1

To re-elect Ir. Dr. Mohd Shahreen Zainooreen Madros, whom retire in accordance with Article 103 of the Company's Constitution and being eligible, offer himself for re-election.

Ordinary resolution 2

To re-elect Mohd Irwan Ahmad Mustafa, whom retire in accordance with Article 103 of the Company's Constitution and being eligible, offer himself for re-election.

Ordinary resolution 3

To re-elect Datuk George Ling Kien Sing, whom retire in accordance with Article 103 of the Company's Constitution and being eligible, offer himself for re-election.

Ordinary resolution 4

To re-elect Megat Zariman Abdul Rahim, whom retire in accordance with Article 103 of the Company's Constitution and being eligible, offer himself for re-election.

Ordinary resolution 5

To approve the payment of fees to the Non-Executive Chairman and Non-Executive Directors with effect from this 12th AGM until the next AGM of the Company to be held in year 2023.

Ordinary resolution 6

To approve the benefits payable to the Non-Executive Chairman and Non-Executive Directors comprise of allowances, benefits-in-kind and other emoluments payable to them, from the 12th AGM to the next AGM of the Company in 2023.

Ordinary resolution 7

To re-appoint Messrs. Ernst & Young PLT as Auditors of the Company for the financial year ending 31 December 2022 and to authorise the Board of Directors to determine their remuneration.

Ordinary resolution 8

CDS Account No.

Dated this

day of

2022

Name of Member

(If the appointor is an attorney or a corporation, please see Note 4 below)

Signature of Member(s) / Common Seal

Total number of ordinary shares held
Number of shares to be represented by each proxy	Proxy 1	Proxy 2

Notes:

• 1. The Broadcast Venue is strictly for the purpose of complying with Section 327(2) of the Companies Act 2016 which requires the Chairperson of the meeting to be present at the main venue of the meeting. Members WILL NOT BE ALLOWED to attend the 12th AGM in person at the Broadcast Venue on the day of the meeting. Members are to attend, participate (including posing questions to the Board) and vote remotely at the 12th AGM via the Remote Participation and Voting (RPV) facilities provided by SS E Solutions Sdn. Bhd. via Securities Services ePortal's platform athttps://sshsb.net.my. Please follow the procedures provided in the Administrative Guide for the AGM in order to register, participate and vote remotely via the RPV facilities.

• 2. A member of the Company entitled to attend and vote at the Meeting may appoint a proxy or proxies to attend and vote in his/her stead. A proxy may but need not be a member of the Company. Where there is more than one proxy, the member shall specify the proportion of his holdings to be represented by each proxy, failing which shall appointment shall be invalid.

• 3. Where a member an Exempt Authorised Nominee which holds ordinary shares in the Company for multiple beneficial owners in one securities account (Omnibus Account), there is no limit to the number of proxies which the said nominee may appoint in respect of each omnibus account it holds.

• 4. Where a member of the Company is an authorised nominee as defined under the Securities Industry (Central Depositories) Act, 1991 (SICDA), he/she may appoint a proxy in respect of each securities account he/she holds with ordinary shares of the Company standing to the credit of the said securities account. Every appointment submitted by an authorised nominee as defined under the SICDA, must specify the CDS Account Number. The Proxy Form must be in writing under the hands of the appointer or his attorney duly authorised in writing or, if such appointer is a corporation, under its common seal or that of an officer or attorney duly authorised. If the Proxy Form is signed by an officer duly authorised, it should be accompanied by a statement reading "signed as authorised officer under Authorisation Document which is still in force, no notice of revocation having been received". If the Proxy Form is signed by an attorney duly authorised, it should be accompanied by a statement reading "signed under Power of Attorney which is still in force, no notice of revocation having been received". A certified true copy of the Authorisation Document or the Power of Attorney, which should be valid in accordance with the laws of the jurisdiction in which it was created and is exercised, should be enclosed with the Proxy Form. Failure to comply with the above requirement would result in the Proxy Form to be invalid.

1. Fold here

THE REGISTRAR OF

VELESTO ENERGY BERHAD

Company No.: 200901035667 (878786-H)

AFFIX STAMP HERE

SECURITIES SERVICES (HOLDINGS) SDN BHD

Level 7, Menara Milenium Jalan Damanlela,

Pusat Bandar Damansara, Damansara Heights,

50490 Kuala Lumpur, Malaysia

2. Fold this flap to seal

• 5. A member who has appointed a proxy or attorney or authorised representative to attend, participate and vote at this 12th AGM via RPV must request his/her proxy to register himself/herself for RPV at SS E Solutions Sdn. Bhd. via Securities Services ePortal's platform athttps://sshsb.net.my. Please follow the Procedures for RPV in the Administrative Guide.

• 6. The Proxy Form together with the duly registered Power of Attorney referred to in Note 4 above, if any, in hardcopy form or by electronic means must be received by the Share Registrar no later than Sunday, 26 June 2022 by 2:00 pm or at any adjournment thereof:

  • (i) In Hardcopy Form

    The Proxy Form shall be deposited at the Share Registrar's office, Securities Services (Holdings) Sdn. Bhd. at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur, Wilayah Persekutuan, Malaysia.

  • (ii) By Electronic Means

    The Proxy Form shall be electronically lodged via Securities Services ePortal's platform athttps://sshsb.net.myor by fax to [phone] or by email [e-mail].

    By submitting the duly executed Proxy Form, the members and his/her proxy consent to the Company (and/or its agents/service providers) collecting, using and disclosing the personal data thereon in accordance with the Personal Data Protection Act, 2010 for the purpose of this AGM and any adjournment thereof.

• 7. For the purpose of determining a member who shall be entitled to attend this 12th AGM, the Company shall be requesting Bursa Malaysia Depository Sdn. Bhd., in accordance with Article 69 of the Company's Constitution and section 34(1) of the Securities Industry (Central Depositories) Act, 1991 to issue a General Meeting Record of Depositors as at 21 June 2022. Only a depositor whose name appears in the General Meeting Record of Depositors as at 21 June 2022 shall be entitled to attend the said Meeting or appoint a proxy to attend and / or vote in his / her stead.

• 8. Pursuant to Paragraph 8.29A(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, all resolutions set out in the Notice of the 12th AGM of the Company shall be put to vote by way of a poll.