Hengyuan Refining Berhad : "HRC" Or "The Company") 1. Proposed Renewal Of The Existing Shareholders' Mandate For Recurrent Related Party Transactions Of A Revenue Or Trading Nature ("RRPT"); 2. Proposed New Shareholders' Mandate For Additional RRPT; And 3. Proposed Renewal Of Authority For Share Buy-Back. ("The Proposals")

The Board of Directors of the Company wishes to announce that the Company intends to seek shareholders' approval at the forthcoming Annual General Meeting of the Company on the following Proposals:-

1. Proposed Renewal of the Existing Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature ("RRPT");

2. Proposed New Shareholders' Mandate for Additional RRPT; and

3. Proposed Renewal of Authority for Share Buy-Back.

("the Proposals")

A Circular to Shareholders containing the details of the Proposals will be issued and dispatched to shareholders of the Company in due course.

This announcement is dated 1 April 2022.