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Expansion

During the event, Dato’ Liew Bin, President of the Malaysia Retail Chain Association (MRCA), visited the NINGJI booth. The two parties exchanged views on NINGJI’s brand development, product offerings and expansion plans in the Malaysian market.

Backed by a proven store model and a comprehensive overseas support system, NINGJI attracted strong interest from high-quality investors throughout the event. Over the three-day exhibition, the brand successfully signed agreements for 20 new stores, bringing its total number of contracted stores in Malaysia to 82. Potential partners across multiple regions also expressed interest in establishing strategic partnerships with the brand, demonstrating NINGJI’s growing appeal in international markets.

Through product tastings and immersive interactive experiences, NINGJI also strengthened its connection with local consumers. The event generated several thousand new member registrations, building a valuable base of first-party customer data for future localized marketing initiatives.

As one of China’s leading new-style tea brands, NINGJI began its global expansion at the end of 2024. To date, the brand has signed agreements for more than 150 overseas stores across Malaysia, Singapore, Australia, New Zealand, the United States, Vietnam, Thailand, the Philippines, Indonesia, Cambodia and other markets.

In Malaysia, NINGJI currently operates nine stores, with more than ten additional locations in development. Its network is steadily expanding across key commercial districts, while the brand continues to strengthen its influence throughout Southeast Asia.

Five Localization Strategies for Malaysia, Ningji’s Anchor Overseas Market

With its young and diverse population, well-established food and beverage sector, and year-round tropical climate, Malaysia provides highly favourable conditions for refreshing fresh fruit and lemon tea beverages.

Against this backdrop, NINGJI has identified Malaysia as one of its core overseas markets and is systematically advancing its localization strategy across five key areas: store network development, supply chain infrastructure, product portfolio, organizational capabilities and brand marketing.

Expanding Across Key Commercial Districts and Empowering Every Store Through Digital Intelligence

NINGJI will use Kuala Lumpur and Johor Bahru as two strategic hubs, drawing on its proven store operating experience to establish a more refined system for site evaluation, store development and project management.

The brand has built strong digital capabilities, including an end-to-end digital system covering site selection and daily operations, as well as four AI-powered agents that provide franchise partners with integrated, data-driven support.

While steadily expanding its store network and market coverage, NINGJI remains equally focused on store-level operating quality and long-term profitability. The brand aims to build a high-quality retail network that reaches a diverse range of commercial districts and serves a broad customer base.

Strengthening the Local Supply Chain with a Forward Warehouse in Malaysia

Supply chain capability is the lifeline of any new-style tea brand. In China, NINGJI operates seven warehousing centres, manages more than 2,000 mu of lemon orchards. These capabilities have laid a solid foundation for the brand’s continued expansion.

NINGJI believes that genuine localization means combining the capabilities of its headquarters with local market resources. The brand plans to establish a forward warehouse in Malaysia by the end of the year.

Once operational, the facility will enable efficient “T+1” delivery across Malaysia’s key regions, helping stores reduce the risk of stock shortages while significantly lowering the amount of capital franchise partners need to commit to inventory. It will also provide strong logistical support for the continued expansion of NINGJI’s store network.

Balancing Classics and Innovation to Create Products for Local Tastes

NINGJI’s menu centres on fresh fruit lemon beverages paired with whole-leaf tea. Its use of fresh ingredients and made-to-order hand-shaken preparation gives the brand strong cross-cultural appeal and makes its products naturally suited to international markets.

In Malaysia, NINGJI has chosen not to simply replicate its existing menu. Instead, the brand has adopted a “signature products for customer acquisition plus localized innovation” strategy.

On the one hand, proven bestsellers led by Superior Taste Award-winning YaShiXiang Lemon Tea have launched in Malaysian, on the other hand, NINGJI continues to refine its ingredient transportation and storage solutions while developing products tailored to local flavour preferences and market conditions.

In addition to its consistently popular core products, NINGJI has already launched its new pineapple series in Malaysia. The well-received Lemon Milk Series is scheduled to make its official debut in October.

Moving forward, the brand will maintain a quarterly product launch cycle and continue using localized flavours and product innovation to energize the market.

Establishing a Regional Headquarters and Building a Professional Local Team

Local talent is essential for any brand seeking to establish deep and lasting roots in an overseas market.

NINGJI has already assembled a professional team in Malaysia covering local site selection, store development and operational management, and the team continues to grow. This will further enhance the brand’s responsiveness throughout the entire store development journey, from preliminary site selection and opening preparations to daily operations.

NINGJI also plans to establish a regional headquarters in Malaysia and further strengthen its partner support system across staff training, marketing and operational management.

By working alongside local franchise partners who share its commitment to long-term growth, NINGJI aims to expand the market and create greater opportunities together.

Communicating Across Cultures Through Localized Design and Marketing

NINGJI aims to become part of the everyday lives of Malaysian consumers.

In terms of visual presentation, the brand retains its signature yellow and green colour palette while incorporating local aesthetic preferences. Through its “one store, one design” approach, NINGJI creates open and comfortable social spaces tailored to different locations and communities.

From a marketing perspective, the brand will continue to engage with local festivals and cultural trends while collaborating with Malaysian KOLs and KOCs. By connecting social media content with offline experiences, NINGJI seeks to build an emotional relationship with consumers that goes beyond the products themselves and genuinely become part of the local lifestyle.

During its Kuala Lumpur market launch, for example, NINGJI invited Elyn Leong, a Malaysian member of the girl group Gen1es, to serve as “Store Manager for a Day.” Supported by extensive social media promotion, the “Lemon Tea for the Whole City” campaign generated more than one million views and tens of thousands of user-generated interactions across Xiaohongshu, Instagram and Facebook.

Committed to Long-Term Growth, NINGJI Creates Multidimensional Cultural Dialogue Through Localization

NINGJI believes that true globalization is not about simply replicating an existing model. It is a process of deep integration, continuous learning and ongoing refinement.

The brand continues to adapt its products, operations and communications to the consumer characteristics of each market, moving beyond simply “going global” towards becoming genuinely embedded in local communities.

A representative of NINGJI’s overseas business division said:

“Malaysia has a young, diverse and dynamic consumer market and is an important part of NINGJI’s international growth strategy. In the second half of 2026, while steadily expanding our store network, we will further advance the localization of our products, operations and brand communications. We will also continue strengthening our local team and supply chain infrastructure while building long-term relationships with more partners who understand the Malaysian market.”

Looking ahead, NINGJI will continue to build on its product strength and in-store experience while exploring diverse forms of collaboration with local business organizations, content creators and industry partners.

Starting with a cup of fresh fruit lemon tea, NINGJI aims not only to become part of Malaysian consumers’ everyday lives, but also to work alongside local partners to unlock new growth opportunities in the freshly prepared beverage market.

Hashtag: #NINGJI

The issuer is solely responsible for the content of this announcement.

About NINGJI

NINGJI, a leading new-style tea brand featuring fresh-fruit lemon and original-leaf tea, dedicated to multi-category beverage R&D, digitalized management and operations.

NINGJI opened its first store in Changsha, China, on 8 February 2021. July 2021, the company completed a Series A financing round worth tens of millions of RMB, with investment from ByteDance and Shunwei Capital.

January 2022, NINGJI completed a Series A+ financing round worth hundreds of millions of RMB, led by Tencent, with existing investors also oversubscribing.

Through its distinctive contemporary design and refreshing tea beverages, NINGJI communicates a youthful, flavourful and playful brand philosophy, as well as a more creative and trend-driven approach to everyday life. This positioning has earned recognition and support from consumers across different age groups.

NINGJI began its global expansion at the end of 2024. To date, the brand has signed agreements for more than 150 overseas stores across Malaysia, Singapore, Australia, New Zealand, the United States, Vietnam, Thailand, the Philippines, Indonesia, Cambodia and other markets.

As a leading overseas payment service provider (PSP), PayerMax has integrated Rakuten Pay to enable international merchants to adopt this payment method in Japan. This integration marks a significant milestone in the technical collaboration, successfully supporting merchants in leveraging Rakuten Pay for their local operations.

The milestone not only enhances the localized payment experience for Last War players in Japan, but also demonstrates how international game publishers can leverage trusted local payment partnerships to accelerate market entry, strengthen localization and better engage Japanese consumers.

Connecting with Japanese Players Starts with Local Payments

As more global game publishers expand into Japan, localized payment experiences have become an increasingly important part of player acquisition, monetization and long-term growth.

As one of the flagship payment services within the Rakuten Ecosystem, Rakuten Pay plays a central role in Japan’s digital commerce landscape. The Rakuten Ecosystem connects more than 100 million registered members across e-commerce, financial services, travel, mobile and offline retail, and Rakuten Pay has become one of Japan’s most widely adopted local payment methods.

For international game publishers, integrating Rakuten Pay is about more than offering another payment option. It provides access to one of Japan’s most established consumer ecosystems, allowing games to deliver payment experiences aligned with local player preferences while building stronger engagement in one of the world’s most competitive gaming markets.

Supporting Last War Highlights PayerMax’s Local Payment Expertise in Japan

As one of the fastest-growing strategy games worldwide, Last War continues to expand its global footprint, with Japan representing one of its key strategic markets. As expectations for localized payment experiences continue to rise, enabling familiar and trusted local payment methods has become an important part of enhancing player experience and supporting sustainable growth.

With support from PayerMax, Last War successfully integrated Rakuten Pay, becoming a leading overseas game to support the payment method and offering Japanese players a more localized and seamless payment experience.

Designed to support international businesses entering Japan, PayerMax provides a unified payment solution that bridges the gap between global merchants and the local ecosystem. By leveraging PayerMax’s integration with Rakuten Pay, PayerMax serves as a gateway for international businesses to establish a strong presence in the Japanese market.

Faster Market Entry

Through PayerMax’s system integration with Rakuten Payment, eligible merchants benefit from a standardized integration pathway that shortens implementation timelines and accelerates go-to-market execution in Japan.

Reliable Compliance and Fund Management Enablement

Leveraging the established business relationships between PayerMax and Rakuten Pay, merchants are empowered to integrate Rakuten Pay through a streamlined, standardized pathway which is aligned with Japan’s local regulatory and operational requirements, thereby delivering a payment experience that resonates with the everyday spending habits of Japanese players. Furthermore, within this collaborative framework, PayerMax and Rakuten Pay facilitate the unified orchestration of critical processes including KYC, anti‑money laundering (AML) and fund management, effectively alleviating the operational complexities and associated costs of local payment execution. This enables merchants to refocus their resources on sustainable business growth and enriched player engagement.

Access to Japan’s Consumer Ecosystem

Through PayerMax, businesses can better engage local consumers, strengthen brand presence and build sustainable long-term growth in Japan.

The successful integration for Last War not only demonstrates the commercial value of the partnership between PayerMax and Rakuten Payment, but also provides a proven reference for more global game publishers and digital content companies expanding into Japan.

Executive Quotes

Hiroki Sogawa, Executive Officer, Rakuten Payment, said:

“We are pleased to partner with PayerMax and to see Last War, a leading title, successfully integrate Rakuten Pay as a payment option. Through this collaboration, we look forward to supporting more international businesses and digital content providers in delivering trusted, localized payment experiences for Japanese consumers.”

Will, APAC General Manager of PayerMax, said:

“Integrating with Rakuten Pay marks an important milestone in PayerMax’s expansion of local payment capabilities in Japan. The successful launch of Last War reflects the strength of our partnership and demonstrates our ability to help global game publishers and international businesses localize faster through trusted local payment infrastructure. Looking ahead, we will continue working with leading local payment partners worldwide to deliver secure, compliant and scalable payment solutions for global merchants.”

Strengthening Local Payment Infrastructure for Global Growth

The partnership with Rakuten Payment represents another important milestone in PayerMax’s strategy to strengthen local payment infrastructure across key global markets and further expand its local payment capabilities in Japan.

Today, PayerMax supports businesses across more than 150 markets and offers access to over 600 payment methods worldwide, backed by an extensive network of local payment partners spanning Japan, Southeast Asia, the Middle East, Latin America and other high-growth regions.

Rather than simply aggregating payment methods, PayerMax focuses on connecting businesses with the local payment ecosystems that shape consumer behavior in each market. By combining enterprise-grade payment technology with trusted local partnerships, PayerMax enables international businesses to localize faster, operate more efficiently and achieve sustainable global growth.

Hashtag: #PayerMax #RakutenPay

The issuer is solely responsible for the content of this announcement.

2Q26 Business and Financial Highlights

• Bora delivered historically record-high quarterly revenues of NT$5,889 million in 2Q26, up 47.2% quarter-over-quarter driven by broad-based operational momentum, with basic EPS of NT$4.36.
• CDMO revenue growth and increased site utilization rates, along with strong growth in the rare disease business and a return to growth for generics business of the Pharma Sales operations lifted group profitability, with gross margin expanding to 41.3% from 36.0% and operating margin reaching 16.8% from 10.2% in 1Q26. Excluding one-time costs related to the Weider Global Nutrition transaction, operating margin was approximately 18%.
• CDMO’s strong backlog of US$317 million as of end of 2Q26, another historical high following a strong quarter, signals that Bora’s core business continued to perform with higher demand.
• Pharma Sales’ rare disease franchise continues to show double digit sequential growth and the increased demand from government channels during the quarter with stabilized pricing in DLS has lifted the generics business back to normal.
• Reflecting Bora’s recent increase in investment in Sunway Biotech, from 35.97% to 42.27% and subsequent acquisitions of Weider Global Nutrition’s, the Company has introduced “Consumer Healthcare (CHC)” as a new segment in its revenue mix disclosure beginning this quarter. In 2Q26, revenues from CHC were NT$824.76 million in 2Q26, a 354.4% increase QoQ and 234.3% YoY, and contributed to 14% of the Bora Groups consolidated revenues, an all-time high.
• Cash-on-hand reached an all-time high of NT$8,431 million as the Company was preparing for MacroGenics Inc.’s Rockville facility acquisition.
• The Company has kicked off a group-wide AI in Manufacturing, BORA AIM, program aimed at improving process efficiency across sites, spanning engineering, quality and production. Bora has also signed a partnership with Insilico Medicine for AI drug discovery. The first 6 months will focus on beta version testing of the Bora AIM agents and AI champions to drive process consolidation.
• Share capital increased 0.3% during the quarter from employee stock option exercise.

Mr. Bobby Sheng, Chairman of Bora Group, stated, “We are pleased to announce Bora Group’s return to strong operating profits and double to triple-digit growth on all key margins sequentially, as well as demonstrate that our soft 1Q26 performance was anomalous rather than structural. Our impressive sequential improvement was driven entirely by strong demand from both our CDMO and Pharma Sales businesses, with 2Q26 manufactured batches reaching 0.38 billion doses, led by increased commercial production in Maple Grove and Zhunan sites and a full quarter of operations in the Maryland injectable facility, while our flagship products DLS and VIGAFYDE® in Pharma Sales continues to secure leading market share.

Our focus right now is execution. CAPEX investments in our mature sites, including facilities in Taiwan and in Canada, continue to deliver operational leverage driven by gross margin expansion, and our recently acquired oral solid dose facility in Maple Grove continues to show stellar and impactful demand as we sign more projects. Our 12-month rolling backlog is at historic high in almost all our sites, despite projected manufacturing delays at our Maryland injectable facility as we diligently respond to FDA audit observations from a recent audit. Bora Group’s commitment to the fast-growing Biologics manufacturing industry took another big step as we look to integrate 12,000 liters of capacity, and 3 commercial products from our Rockville facility, as well as see revenue recognition from this acquisition starting Q3. As Bora’s CDMO footprint expands in the US, we continue to capture durable, high-value demand as customers increasingly prioritize supply security and onshore capacity.

In addition, we are seeing sustained growth and improved gross margins in the Vigabatrin franchise, our most important, rare disease franchise, thanks to renegotiations with our partner vendors. Accelerated state and government orders for generics products increased 2Q26 revenues and 6 new generics launches have also supported a more diversified generics portfolio. Together, the advancement in rare disease franchise and generics business has positioned Bora’s Pharma Sales business, operating under the name Upsher-Smith, in a far stronger state than it was just a quarter ago.

As announced in July, we are excited to be developing a group-wide AI in Manufacturing program, BORA AIM, aimed at improving process efficiency across sites, spanning engineering, quality and production. We also announced a partnership with Insilico Medicine to enhance our understanding of AI drug discovery and create more customized AI manufacturing platforms for AIDD small molecules. In the next 12 months, Bora Group will be ready to showcase some exciting AI-enabled CDMO platforms that will truly add value to our partners and sharpen the overall competitive advantages of Bora Group.

As our momentum carries Bora into the second half of the year, we expect margins of our flagship products in Pharma Sales and CHC businesses to hold steady on continuous revenue growth, and improved efficiencies in the CDMO business in addition to consolidation of new revenues from the Rockville facility.”

2Q26 Operational Achievements & 2026 Outlook

Global CDMO Operations

Revenues increased 30.3% year-over-year and 29.0% quarter-over-quarter including internal orders, and 33.0% and 40.2% external orders only, or NT$2,116.4 million. The growth was primarily driven by a strong rebound in injectables following the semi-annual maintenance in 1Q26 and same period last year, and demand acceleration overall as we continue to meet the increasing backlog.

CDMO business also signed a record high US$378.2 million in total external wins. Highlighted by a 10+2-year, multi product commercial contract in our Maple Grove facility with a new top-20 pharma company, and 14 new molecules from pre-commercial programs from multiple new customers. Bora is confident in its mid- to long-term growth trajectory as pharma and biotech companies continue to look for US based CDMOs as a part of their efforts to onshore US production and improve supply chain resilience.

During the quarter, 0.38 billion doses, or 109 molecules, were developed and manufactured. Contribution from the top 20 global pharmaceutical companies stood at roughly 30% and should increase drastically in the next 8 quarters.

Looking at 3Q26, the Company is highly optimistic, with our backlog having climbed to an unprecedented level even after a strong quarter of manufacturing output. We do anticipate some timing shifts in revenue recognition related to scheduled semi-annual maintenance at our Maryland injectable site, alongside targeted quality-enhancement activities in connection with observations on passive RABS (Restricted Access Barrier System) line received from an FDA audit that took place 2Q26. However, there has been no reduction in total commercial batch productions in 2026 as we speak and several existing clients have initiated transfers to the FlexPro isolator filling lines. RFP activity has risen, with the first GMP PPQ campaign starting in August. On the newest, isolator-based AST lines, factory acceptance testing (FAT) is planned for Q326, with qualification to follow in 2027, expanding our ability to onboard small-scale isolator programs, including tech transfers.

On biologics, Rockville facility revenue recognition started in the first month of 3Q26 and the site has confirmed that it is on track to deliver batch production volumes ahead of last year’s run rate of around 13 batches for the remainder of 2026. We anticipate one-time transaction costs from this acquisition of approximately 3% of the purchase price including legal and FA fee and transition related expenses as stated in the Transition Service Agreement. The Rockville acquisition expands biologics capacity and brings integrated drug substance (DS) and drug product (DP) capabilities under one roof, strengthening our end-to-end service offering and attracting more inbound opportunities and higher value conversion with cross selling opportunities for our injectable business.

For our strategic investment in Tanvex Biopharma, the main Bora Biologics platform company, although the business still operates at a loss, Tanvex has built a strong presence in international conferences, especially Bio International in the US in June. We have seen a positive uptick in pipeline from leading biotechs and heavy weight biopharmas, and stable demand for early-stage PD programs in Zhubei. The Rockville acquisition is expected to orchestrate and accelerate opportunities for Tanvex in the coming quarters.

Pharma Sales Operations

Revenues decreased 2.7% year-over-year and increased 30.4% quarter-over-quarter, arriving at NT$2,934.04 million in 2Q26. The year-over-year decrease was mainly due to a product rationalization program in 2025 that lead to the withdrawal of a basket of legacy generics products.

During the quarter, specialty and brand came in strongly, up 58.8% for the quarter QoQ and displayed almost 50% growth against 2025 run rate. The rare-disease Vigabatrin franchise demand is robust, and our continuous investment in the segment has resulted in much broader patient access compared to when we acquired Upsher-Smith 28 months ago. On coverage, we are on track to achieve year-end formulary goal of >50%, supported by more regional plans and strong physician adoption as they gain experience with VIGAFYDE®. The Company has also renegotiated contracts with suppliers, leading to improved gross margins for the franchise during the quarter and expects full economic contribution starting 3Q26. Simultaneously, the Company out-licensed its non-core assets, Stiripentol generics and 505(b)(2), during the quarter, fully capturing the economic value of these drug assets to enable fueled and renewed focus on core specialty and brand business.

The generics business returned to stability as Upsher-Smith successfully defended flagship product DLS. High value generics advanced 20.6% sequentially from downstream restocking, narrowing the year-to-date YoY decline against 2025 run rate to high teens.

Having executed our way through specialty and brand business growth and generics portfolio optimization, we have returned to the 2023–2024 peaks of Pharma Sales performance but with healthier and more resilient operating profits. As of now, Upsher-Smith sees 6 ANDA pending approval.

CHC Operations

Bora Group has increased holdings of Sunway Biotech to 42.27% through a private placement at $NT 596 million. Subsequently, Sunway completed the acquisition of Weider Global Nutrition (WGN), a global nutritional supplements company with offices in the US, Spain, and Germany and products sold in over 60 countries. Benefitting from the consolidation of WGN that started in May, Consumer Health business totaled NT$824.76 million in 2Q26, a 354.4% increase QoQ and 234.3% YoY. Focusing on longevity and sports nutrition, WGN’s distribution strength is expected to meaningfully contribute to the CHC business in 2026 and beyond and shall deliver vertical-integration synergies to Sunway’s existing ingredients’ manufacturing operations. Together, the WGN acquisition is expected to catapult Sunway Biotech into a leading global nutritional supplements company and substantially accelerate top and bottom-line improvements in the future.

Recent Investor Conference

Bora will host English online earnings call at 8:00 a.m. Taiwan time on Aug. 14^th, 2026. The event will cover the Company’s 2Q26 financial and business results and 2H26 outlook.

English Online Earnings Presentation Link: https://teams.microsoft.com/meet/225504163505748?p=UyyncWl1CnOzjBCNKD

Bora will participate in Goldman Sachs 2026 CDMO day in Singapore in Sept. For 1:1 meetings with management, please contact your GS representative.

Bora 2026 Earnings Schedule

Q3 2026: Expected in the 2^nd week of Nov 2026
Q4 2026: Expected in the 2^nd week of Mar 2027

Hashtag: #BoraGroup

The issuer is solely responsible for the content of this announcement.

About Bora

Founded in 2007, Bora Pharmaceuticals (“Bora” or “the Company”, 6472.TW and BORAY.OTCQX) is a leading pharmaceutical services company with a vision and goal of “Contributing to Better Health All Over the World”. Operating under a “Dual Engine” model that integrates CDMO and commercial expertise, we empower pharmaceutical and biotech partners to optimize product development, accelerate launches, and scale supply to meet global patient needs. At the same time, we actively broaden R&D and sales infrastructure, focusing on niche and rare disease markets to improve patients’ quality of life.

By investing in talent, infrastructure, and biologics expansion, Bora continues to transform operations and achieve sustainable growth. Committed to making success “certain,” Bora sets new standards in the pharmaceutical and CDMO industries.

For more, please visit:
https://www.bora-corp.com
https://www.boracdmo.com

Disclaimer:

This document and the accompanying information may contain forward-looking statements. All statements regarding the company’s future business operations, potential events, and prospects (including but not limited to forecasts, targets, estimates, and operational plans) are considered forward-looking statements unless they refer to factual occurrences. Forward-looking statements are subject to various factors and uncertainties that may cause significant differences from actual results, including but not limited to price fluctuations, actual demand, exchange rate variations, market share, competitive conditions, changes in the legal, financial, and regulatory framework, international economic and financial market conditions, political risks, cost estimates, and other risks and variables beyond the company’s control. These forward-looking statements are based on current predictions and assessments, and the company disclaims any responsibility for future updates.

Recognition from the U.S. Green Building Council, Global Forum on Human Settlements, GEO Foundation, and Asia’s Top 100 Golf Courses — and what that recognition proves about the full picture of Forest City Special Financial Zone (SFZ).

These include eight awards under the Sustainable Cities and Human Settlements Awards (SCAHSA) series issued by the Global Forum on Human Settlements (GFHS), as well as a 2024 Certificate of Honor from GFHS; LEED for Core and Shell (LEED-CS) Gold pre-certification from the U.S. Green Building Council; GreenRE Gold ratings for Forest City Island and its international school; GEO Certified status for both golf courses from Scotland’s GEO Foundation; and a seven-year consecutive ranking for Forest City Golf Resort’s Classic Course among the Top 100 Golf Courses in Asia. In 2026, the Classic Course was ranked No. 1 in Malaysia and No. 36 in Asia.

The awards and certifications documented here address a specific set of criteria: design quality, sustainability standards, and operational assessments by independent institutions. This release provides a transparent account of the institutions that have assessed Forest City, the areas reviewed, and the limits of what such recognition can reasonably prove.

Sustainability and Green-Building Recognition

LEED-CS Gold pre-certification has been secured from the U.S. Green Building Council (USGBC) for multiple buildings, demonstrating that environmental performance was embedded in project planning from the outset. LEED pre-certification represents verified design intent and a formal commitment to sustainable performance criteria, including energy modelling, water efficiency, materials selection, and indoor environmental quality.

This design-stage commitment is reflected across the master plan, which dedicates over 60% of the total land area to non-built space, equivalent to 2.86 million m² of green infrastructure. This includes two golf courses, public parks, landscaped residential zones, and mangrove corridors extending along the Johor coastline — green space that, as of 2026, supports more than 400 officially documented species.

At the national level, Forest City Island and its international school have received GreenRE Gold ratings under Malaysia’s green real-estate framework, reinforcing the project’s alignment with recognised sustainability benchmarks at both international and domestic levels. Beyond building-level certifications, Forest City has received eight awards under the SCAHSA, issued by the GFHS, an international non-profit organisation in special consultative status with the United Nations Economic and Social Council. The documented recognition spans planning and design, green-building industrial development, city-industry integration, green smart city development, coastal ecological protection, low-carbon city planning, and green and intelligent construction, with awards recorded from 2016 to 2023. In 2024, Forest City also received a Certificate of Honor at the 19th Global Forum on Human Settlements from GFHS for its contribution to promoting sustainable cities and human settlements for all.

Golf and Hospitality Recognition

Forest City’s leisure and hospitality assets have also received external recognition, led by the continued performance of Forest City Golf Resort’s Classic Course in regional rankings. The Classic Course has maintained its position among the Top 100 Golf Courses in Asia for seven consecutive years, ranking No. 1 in Malaysia and No. 36 in Asia in 2026, a rise of 14 places from the previous year. The ranking is assessed by an independent panel co-hosted since 2016 by the Chinese and Korean editions of Golf Travel magazine and was reported by The Star on 26 April 2026 following the awards ceremony at Hillview Golf Club on 14 April 2026.

The hospitality component of the resort has also received platform-based recognition. Forest City Golf Hotel earned the Agoda Gold Circle Award 2025 based on service ratings and operational performance on the booking platform. Forest City regards the award as an encouraging indicator of its commitment to guest experience and service consistency, while noting that it reflects day-to-day hospitality performance rather than a measure of the wider development.

Additionally, both golf courses have earned GEO Certified status from Scotland’s GEO Foundation, which evaluates sustainable golf-course operations. GEO Certified is described by the GEO Foundation as “golf’s most comprehensive and widely recognised eco-label”, and is awarded following successful completion of the OnCourse programme and an independent audit. Collectively, these accolades attest to quality across golfing excellence, hospitality service, and environmental stewardship — recognition reflected in visitor engagement, with the resort welcoming more than 100,000 golfers in 2025.

Economic and Community Contribution

Forest City’s recognition record is supported by reported economic and social contribution figures. Internal records indicate that, as of November 2025, the development had contributed over RM790 million in taxes to the Malaysian government, alongside more than RM50 million in employee-related taxes.

More than RM53 million has been invested in charity and community programmes, including support for local schools and villages, and more than 10,000 direct and indirect jobs have been created.

According to Forest City’s internal records as of November 2025, the development has engaged more than 190 local enterprises, attracted property owners from over 20 countries and territories, and contributed to attracting an estimated 300,000 international visitors to Malaysia.

The Significance Behind These Awards

In 2018, Forest City was profiled by Forbes as one of the “5 new cities that are set to shake up the future”. While the coverage is now nearly eight years old, it underscores the project’s long-standing visibility in global urban development conversations, rather than serving as an endorsement of present-day investment returns.

Green-building certifications relate primarily to design and operational standards; the SCAHSA recognitions focus on planning and sustainability; and golf-course rankings evaluate course quality and related criteria.

For prospective residents and investors, the awards should therefore be treated as evidence of build quality, institutional engagement and assessed sustainability credentials, to be considered alongside current data on occupancy, demand, connectivity and market liquidity. Questions relating to the Special Financial Zone framework and connectivity — including the Johor Bahru–Singapore Rapid Transit System Link scheduled to open for passenger service on 1 January 2027 — should be assessed through dedicated materials, current market data and, where relevant, Forest City’s investment overview.

The Broader Impact of Awards and Recognitions

The relevance of Forest City’s awards and certifications varies by audience. For ESG-minded investors and institutions, the most relevant credentials are Forest City’s LEED-CS Gold pre-certification, GreenRE Gold ratings, and GFHS recognition. These are issuer-named credentials aligned with green-investment screening and can be reviewed alongside Forest City’s broader investment framework. For enterprises operating within the SFZ, this integrated environment — where land and marine ecosystems are carefully preserved — enhances environmental performance and strengthens sustainability credentials.

For prospective residents and families, the GreenRE rating for the international school and the golf and hospitality recognition for the resort may be more directly relevant to daily living than city-planning awards. These credentials point to quality — but prospective residents should also assess schools, amenities, transport, community facilities, and the broader facts about Forest City on the ground.

For Malaysia-market watchers, Forest City’s SCAHSA record and reported RM790 million tax contribution mark the development as a recognised case study in green development and city-industry integration. This recognition is a data point on the development’s institutional standing, not a forecast of its commercial outcome.

Conclusion

What the awards record does establish is something more specific. Forest City reports nearly 40 awards and certifications across named institutions, including the U.S. Green Building Council, the Global Forum on Human Settlements, the GEO Foundation, and the Top 100 Golf Courses in Asia panel. This is accompanied by reported contributions of more than RM790 million in taxes and the creation of more than 10,000 direct and indirect jobs. Prospective residents and investors should also consider Forest City’s position as the financial-services flagship within the Johor–Singapore Special Economic Zone, along with its duty-free island and Malaysia Digital Status.

The strongest claim the awards support is also the most modest one: that Forest City has been built and planned to a standard that named international institutions have repeatedly chosen to certify — which is a starting point for due diligence, not a substitute for it.
Hashtag: #ForestCity #SFZ #ForestCityAchievements #Malaysia

The issuer is solely responsible for the content of this announcement.

About Forest City Special Financial Zone

Located in Iskandar Puteri, Johor, Forest City Special Financial Zone (FCSFZ) is Malaysia’s first designated special financial zone and a key financial-services component of the Johor–Singapore Special Economic Zone. It is positioned to attract financial institutions, multinational corporations, high-net-worth individuals and businesses operating in wealth management, financial technology and global business services.

Its incentive framework includes a 0% income tax rate for qualifying Single Family Office Vehicles for up to 20 years, a preferential 5% corporate tax rate for approved qualifying activities, and a special 15% personal income tax rate for eligible knowledge workers, subject to the applicable conditions, regulatory approvals and prevailing legislation. Forest City also holds duty-free island status, further strengthening its appeal as a regional investment, business and wealth-management destination near Singapore.

• New 20,000 sqm facility will more than triple Kuehne+Nagel’s Container Freight Station capacity in Cambodia
• Strategic location strengthens cross-border connectivity between Cambodia, Thailand and Vietnam
• Expanded facility supports customers in the consumer goods industry

PHNOM PENH, CAMBODIA – Media OutReach Newswire – 13 August 2026 – Kuehne+Nagel has invested in a new Container Freight Station (CFS) in Phnom Penh, Cambodia. Scheduled for completion in June 2027, the facility will provide more than 20,000 sqm of warehouse space, helping customers manage growing trade volumes and move goods more efficiently within Cambodia and across the region.

Cambodia continues to strengthen its trade infrastructure, with Phnom Penh Autonomous Port handling around 600,000 TEUs and Sihanoukville Autonomous Port approximately 1.3 million TEUs in 2025. Complementing this growth, the new CFS is strategically located near key transport gateways, including both ports, Phnom Penh International Airport and cross-border road links to Thailand and Vietnam, facilitating cargo movements across the country and supporting regional logistics operations.

David Roussiere, Managing Director, Thailand, Cambodia and Myanmar, Kuehne+Nagel, said: “This investment will more than triple our CFS capacity in Cambodia and strengthen our logistics capabilities in the country. With direct access to key transportation gateways and regional trade corridors, the facility will support customers in the consumer good industry as they navigate evolving supply chains and growing trade opportunities across the region.”

Designed for cargo consolidation and handling operations, the new CFS will feature a raised-floor warehouse equipped with loading doors and dock levellers. It will offer a floor loading capacity of five tonnes per square metre and is expected to be certified to ISO 9001, ISO 45001 and ISO 14001 standards.

The facility will also incorporate sustainability features including solar panels, skylight roofing, LED lighting, battery-operated forklifts, water infiltration systems and rainwater management infrastructure.

The investment reflects Kuehne+Nagel’s continued focus on strengthening its logistics infrastructure in high-growth markets and supporting the expansion of regional and international trade.

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About Kuehne+Nagel

With approximately 88,000 employees across over 1,300 sites in close to 100 countries, the Kuehne+Nagel Group is one of the world’s leading logistics providers. Headquartered in Switzerland and listed on the Zurich stock exchange, it is the global number one in Air and Sea Logistics and holds strong market positions in Road and Contract Logistics. Supporting around 400,000 customers worldwide, the Group draws on its global network, logistics expertise, and data-driven insights to deliver end-to-end supply chain solutions for global companies and industries.

The December 2026 launch was announced by Nintendo executive officer Juro Takeuchi at a business conference in Jakarta. Distribution will be handled by PT Nusantara Interactive Niaga, part of the Salim Group, with Nintendo’s Singapore operation involved in the market rollout. Prices and a precise sales date have yet to be disclosed.

Nintendo’s move formalises a market that has for years relied heavily on imported consoles and third-party retailers. Switch systems and games have long been available in Indonesia through unofficial distribution channels, but an authorised presence should improve access to locally supported products, warranties and retail partnerships.

The expansion arrives more than a year after Nintendo launched the Switch 2 in its major markets. The successor to the original Switch has become a substantial part of the company’s hardware business, with cumulative shipments reaching 23.68 million units by the end of June. Nintendo shipped another 3.82 million Switch 2 consoles during the April-June quarter, while lifetime shipments of the original Switch exceeded 156 million units.

Indonesia offers Nintendo considerable scale. Estimates of the country’s gaming population vary considerably depending on methodology, platform and definition of an active player. Government-linked figures have previously placed the number above 174 million, while officials this year have cited more than 200 million active gamers. The market is valued at roughly $2 billion annually, although mobile gaming accounts for a large proportion of participation.

That mobile-heavy profile makes Nintendo’s challenge different from simply putting consoles into more shops. Smartphone games have built enormous audiences through free-to-play models, localised payment systems and low barriers to entry. Nintendo must persuade consumers to spend substantially more on dedicated hardware and premium software, while competing for attention with mobile titles, personal computers and rival console ecosystems.

One potential obstacle is the absence of a dedicated Indonesian Nintendo eShop when the hardware goes on sale. Buyers seeking digital games will not initially receive a local storefront alongside the official console launch. Players have commonly used Nintendo Accounts registered in supported territories to gain access to digital purchases, but that workaround is less convenient than a domestic store with local pricing and payment options. Nintendo has not given a timetable for introducing an Indonesian eShop.

The omission is commercially significant because digital distribution has become central to Nintendo’s software business. Digital sales reached 132.7 billion yen in the quarter ended June, up 90% from a year earlier, and represented 61.5% of dedicated video-game platform software revenue. That category includes downloadable packaged titles, download-only software, add-on content and Nintendo Switch Online.

Nintendo nevertheless has an advantage in Indonesia through established brand recognition. Franchises including Mario, Pokémon, The Legend of Zelda and Animal Crossing have maintained large followings even without a formal local hardware operation. Official distribution could also make it easier for major retailers to carry consoles, accessories and physical games with more predictable supplies and after-sales arrangements.

The timing gives Nintendo a new market as Switch 2 enters its second full year. The company is supporting the platform with a widening catalogue of first-party and third-party games while maintaining compatibility with much of the original Switch software library. Nintendo has said regular software releases are important to expanding the installed base, particularly as consumers decide whether to move from the original system.

Indonesia could also provide a test for Nintendo’s broader Southeast Asian strategy. The company already operates official services in markets including Singapore and Malaysia, but the region remains fragmented by differences in income, digital payments, retail infrastructure and consumer preferences. Indonesia’s size makes it attractive, while its dependence on mobile gaming and sensitivity to hardware pricing create a more demanding commercial environment.

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About Allianz Commercial

Allianz Commercial is the center of expertise and global line of Allianz Group for insuring mid-sized businesses, large enterprises and specialist risks. Among our customers are the world’s largest consumer brands, financial institutions and industry players, the global aviation and shipping industry as well as family-owned and medium enterprises which are the backbone of the economy. We also cover unique risks such as offshore wind parks, infrastructure projects or film productions. Powered by the employees, financial strength, and network of the world’s #1 insurance brand, we work together to help our customers prepare for what’s ahead: They trust us in providing a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling. Allianz Commercial brings together the large corporate insurance business of Allianz Global Corporate & Specialty (AGCS) and the commercial insurance business of national Allianz Property & Casualty entities serving mid-sized companies. We are present in over 200 countries and territories either through our own teams or the Allianz Group network and partners. In 2025, the integrated business of Allianz Commercial generated around €17.3 billion in gross premium globally. https://commercial.allianz.com/