This announcement contains information that, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

26 February 2026

ASEANA PROPERTIES LIMITED
("Aseana" or the "Company")

Updates regarding refinancing of Medium Term Notes, sale of units at The RuMa Residences and legal action

Aseana (LSE: ASPL), a property developer in Malaysia listed on the main market of the London Stock Exchange, is pleased to announce that Urban DNA Sdn Bhd ("UDNA"), a wholly owned subsidiary of Aseana, has successfully secured a facility of up to 44.2 million Malaysian ringgit ("RM") (equivalent to c.US$10.5 million) from Alliance Bank Malaysia Berhad (the "New Facility").

The purpose of the New Facility is for UDNA to settle the remaining outstanding sum of the Potensi Angkasa Sdn Bhd Commercial Paper and/or Medium Term Notes (the "PASB CP/MTN") (principal, coupon, financing and other related costs) in full totalling RM29.0 million (equivalent to c.US$6.9 million) and to retire other short-term borrowings of the Company as well as for general working capital purposes.

UDNA has successfully drawn down RM33.2 million (equivalent to c.US$7.9 million) on the New Facility which has been utilised, together with certain existing cash resources and cash generated from the sale of units at the RuMa Residences as outlined below, to settle the remaining outstanding sum of the PASB CP/MTN and other short-term borrowings in full.

This New Facility is the latest refinancing exercise that has been concluded by the Company subsequent to the long-term facility secured from AmBank (M) Berhad (the "AmBank Facility") as announced by the Company on 24 June 2025.

Similar to the AmBank Facility, the New Facility has been put in place on more favourable financing terms than the PASB CP/MTN, including at a significantly lower interest rate (anticipated to be below 6% per annum) and up to 10 years of repayment period from the date of first drawdown (inclusive of 12 months grace period).

The New Facility is subject to security arrangements. This includes Alliance Bank holding a first legal charge over the RuMa Hotel & Residences asset and a first party debenture by way of a fixed and floating charge over the assets of UDNA. The New Facility contains standard representations, warranties, covenants and events of default for a loan of its type.

This refinancing reinforces the Company's strategic priorities outlined previously, including to critically raise funds and bank financing for safeguarding ownership of its remaining assets to prevent destruction of value from distressed or forced sale activities, and to enable Aseana to improve on its current financial position and its short-term cash flows.

Update re. sale of remaining units at The RuMa Residences

Further to the Company's previously announced progress on the disposal of residential units at The RuMa Residences, the Company is pleased to announce that all eighteen (18) remaining units have been sold. The sales and purchase agreements have been fully executed for sixteen (16) of these units, with the remaining two (2) units pending receipt of full payment. The proceeds from the sale have been put towards redeeming the PASB CP/MTN.

Update re. Legal Action

Further to the Company's previous announcements in relation to the legal action, details of which were set out in the announcements of 27 December 2024 and 26 March 2025, the consent order granted by the Kuala Lumpur High Court in Malaysia has since been amended.

The Company confirms that, in accordance with the amended consent order, UDNA has deposited RM5.4 million into a joint stakeholders' interest-bearing account. The deposited sum and all accrued interest will remain held in escrow and will be released to the successful party following the conclusion of court proceedings at the High Court of Malaysia, Court of Appeal of Malaysia or Federal Court of Malaysia, as applicable. Following the deposit, the charges previously created over the 30 unencumbered hotel units at The RuMa Hotel and Residences owned by UDNA in favour of the relevant defendants will be discharged in accordance with the amended consent order.

The Company wishes to emphasise that the amended consent order does not constitute any admission of liability by Aseana or UDNA, and the underlying claims remain fully contested.

Further announcements on any material developments in connection with these matters will be made by the Board of Aseana as and when it is appropriate and/or necessary.

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