INDEPENDENT ADVICE CIRCULAR TO THE HOLDERS OF THE OFFER SHARES IN RELATION TO THE UNCONDITIONAL MANDATORY TAKE — OVER OFFER BY HII CAPITAL HOLDINGS SDN BHD ("OFFEROR") THROUGH UOB KAY HIAN (M) SDN BHD TO ACQUIRE (I) ALL THE REMAINING ORDINARY SHARES IN ASTEEL GROUP BERHAD ("ASTEEL") NOT ALREADY HELD BY THE OFFEROR, DATUK CLIFFORD HII TOH LEONG AND PERSONS ACTING IN CONCERT WITH THEM; AND (II) ALL THE NEW SHARES THAT MAY BE ISSUED PRIOR TO THE CLOSING OF THE OFFER ARISING FROM THE EXERCISE OF THE

Circular/Notice to Shareholders ASTEEL GROUP BERHAD Subject INDEPENDENT ADVICE CIRCULAR TO THE HOLDERS OF THE OFFER SHARES IN RELATION TO THE UNCONDITIONAL MANDATORY TAKE-OVER OFFER BY HII CAPITAL HOLDINGS SDN BHD ("OFFEROR") THROUGH UOB KAY HIAN (M) SDN BHD TO ACQUIRE (I) ALL THE REMAINING ORDINARY SHARES IN ASTEEL GROUP BERHAD ("ASTEEL") NOT ALREADY HELD BY THE OFFEROR, DATUK CLIFFORD HII TOH LEONG AND PERSONS ACTING IN CONCERT WITH THEM; AND (II) ALL THE NEW SHARES THAT MAY BE ISSUED PRIOR TO THE CLOSING OF THE OFFER ARISING FROM THE EXERCISE OF THE OUTSTANDING OPTIONS GRANTED PURSUANT TO ASTEEL'S EMPLOYEE SHARE OPTION SCHEME (COLLECTIVELY REFERRED TO AS THE "OFFER SHARES") FOR A CASH OFFER PRICE OF RM0.0750 PER OFFER SHARE Please refer attachment below. Attachments ASTEEL Independent Advice Circular 24.09.2026.pdf 740.2 kB Announcement Info Company Name ASTEEL GROUP BERHAD Stock Name ASTEEL Date Announced 24 Sep 2026 Category Document Submission Reference Number DCS-24092026-00001 Double click on the URL below to view the article. Please note that internet access is required. BMYS_2026-09-24_3708332_ASTEEL Independent Advice Circular 24.09.2026.pdf