On behalf of the Board of Directors of Perak Corporation Berhad ("Perak Corp" or "Company"), the company announced that Perak Corp. has on 8 January 2024 entered into a Joint Development Agreement ("JDA") with Advancecon Development Sdn Bhd ("Advancecon") for the implementation and carrying out the main infrastructure works for the Silver Valley Technology Park ("SVTP") Industrial Hub and sale of completed industrial lots with main infrastructure on thirty-nine (39) pieces of leasehold lands all located in Mukim Hulu Kinta, Daerah Kinta, Perak ("Project Land") at a total estimated gross development value of MYR 1,032,755,328 ("Joint Development"). In tandem with the execution of the JDA, Perak Corp.

has on 8 January 2024 entered into a Joint Venture Agreement with Perbadanan Kemajuan Negeri Perak ("PKNPk") to establish a synergistic collaboration with each other and to jointly carry out the development of the SVTP Industrial Hub on the Project Land, sale of industrial plots and other product offerings to end-purchasers and end-users in furtherance to the development initiatives as set out in the Master Development Agreement dated 31 March 2023.