Velesto Energy : 13th AGM - Proxy Form

PROXY FORM

I/We __________________________________________________________________________________________________________________________________

(Name as per NRIC / Passport / Certificate of incorporation in capital letters)

with (New NRIC/Old NRIC/Passport/Company No.) _______________________________________ of _______________________________________________

________________________________________________________________________________________________________________________________________

(full address in capital letters)

being a member of VELESTO ENERGY BERHAD (Registration No. 200901035667(878786-H)(Company), do hereby appoint

*

______________________________________________________________________________________________________________________________

(Name as per NRIC / Passport in capital letters)

with (New NRIC/Old NRIC/Passport/Company No.) ______________________________________ of ______________________________________

______________________________________________________________________________________________________________________________

(full address in capital letters)

or failing him/her,

______________________________________________________________________________________________________________________________

(Name as per NRIC / Passport in capital letters)

with (New NRIC/Old NRIC/Passport/Company No.) ______________________________________ of ______________________________________

______________________________________________________________________________________________________________________________

(full address in capital letters)

or failing him/her,

*

Chairman of the Meeting,

(* Please tick one (1) box only)

as my/our proxy to vote for me/us and on my/our behalf at the 13th Annual General Meeting ("AGM") of the Company which will be conducted entirely through live streaming from the broadcast venue Ballroom, Level 2, Aloft KL Sentral, 5, Jalan Stesen Sentral, Kuala Lumpur Sentral, 50470 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia on Monday, 29 May 2023 at 2.00 p.m. or at any adjournment thereof.

My/Our proxy is to vote as indicated below:

(Please indicate with an "X" in the appropriate box against each resolution how you wish your proxy to vote. If no instruction is given, this form will be taken to authorise the proxy to vote at his/her discretion.)

ORDINARY BUSINESS		FOR	AGAINST
To re-elect Mohd Rashid Mohd Yusof whom retires in accordance with Article 96 of the Company's Constitution and being
eligible, offers himself for re-election.	Ordinary resolution 1
To re-elect Rowina Ghazali Seth, whom retires in accordance with Article 96 of the Company's Constitution and being
eligible, offers herself for re-election.	Ordinary resolution 2
To re-elect Haida Shenny Hazri, whom retires in accordance with Article 96 of the Company's Constitution and being
eligible, offers herself for re-election.	Ordinary resolution 3
To re-elect Ar. Ahila Ganesan, whom retires in accordance with Article 103 of the Company's Constitution and being
eligible, offers herself for re-election.	Ordinary resolution 4
To approve the payment of fees to the Non-Executive Chairman and Non-Executive Directors with effect from this 13th
AGM until the next AGM of the Company to be held in year 2024.	Ordinary resolution 5
To approve the benefits payable to the Non-Executive Chairman and Non-Executive Directors comprise of allowances,
benefits-in-kind and other emoluments payable to them, from the 13th AGM to the next AGM of the Company in 2024.
	Ordinary resolution 6
To re-appoint Messrs. Ernst & Young PLT as Auditors of the Company for the financial year ending 31 December 2023 and
to authorise the Board of Directors to determine their remuneration.	Ordinary resolution 7
SPECIAL BUSINESS		FOR	AGAINST
To approve the proposed waiver of statutory pre-emptive rights of shareholders over all options granted and/or to be
offered/granted and all new shares to be issued in relation to the Employees Share Option Scheme ("ESOS") of the
Company.	Ordinary resolution 8
To approve the proposed granting of ESOS Options to Megat Zariman Abdul Rahim and waiver of pre-emptive rights of
shareholders over the ESOS Options and/or new shares.	Ordinary resolution 9

Dated this ____________ day of ______________ 2023	CDS Account No.

__________________________________________________________________

Name of Member

(If the appointor is an attorney or a corporation please see Note 4 below)

__________________________________________________________________

Signature of Member(s) / Common Seal

Total number of ordinary shares held

Number of shares to	Proxy 1
be represented by each
proxy

Proxy 2

Notes:

1. The Broadcast Venue is strictly for the purpose of complying with Section 327(2) of the Companies Act 2016 which requires the Chairperson of the meeting to be present at the main venue of the meeting. Members WILL NOT BE ALLOWED to attend the 13th AGM in person at the Broadcast Venue on the day of the meeting. Members are to attend, participate (including posing questions to the Board) and vote remotely at the 13th AGM via the Remote Participation and Voting ("RPV") facilities provided by SS E Solutions Sdn. Bhd. via Securities Services ePortal's platform at https://sshsb.net.my. Please follow the procedures provided in the Administrative Guide for the AGM in order to register, participate and vote remotely via the RPV facilities.
2. A member of the Company entitled to attend and vote at the Meeting may appoint a proxy or proxies to attend and vote in his/her stead. A proxy may but need not be a member of the Company. Where there is more than one proxy, the member shall specify the proportion of his/her holdings to be represented by each proxy, failing which shall appointment shall be invalid.
3. Where a member an Exempt Authorised Nominee which holds ordinary shares in the Company for multiple beneficial owners in one securities account ("Omnibus Account"), there is no limit to the number of proxies which the said nominee may appoint in respect of each omnibus account it holds.
4. Where a member of the Company is an authorised nominee as defined under the Securities Industry (Central Depositories) Act, 1991 ("SICDA"), he / she may appoint a proxy in respect of each securities account he / she holds with ordinary shares of the Company standing to the credit of the said securities account. Every appointment submitted by an authorised nominee as defined under the SICDA, must specify the CDS Account Number. The instrument appointing a proxy must be in writing under the hands of the appointer or his attorney duly authorised in writing or, if such appointer is a corporation, under its common seal or that of an officer or attorney duly authorised. If the Proxy Form is signed under the hand of an officer duly authorised, it should be accompanied by a statement reading "signed as authorised officer under Authorisation Document which is still in force, no notice of revocation having been received". If the Proxy Form is signed under the attorney duly authorised, it should be accompanied by a statement reading "signed under Power of Attorney which is still in force, no notice of revocation having been received". A certified true copy of the Authorisation Document or the Power of Attorney, which should be valid in accordance with the laws of the jurisdiction in which it was created and is exercised, should be enclosed with the Proxy Form. Failure to comply with the above requirement would result in the Proxy Form to be invalid.

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THE REGISTRAR OF VELESTO ENERGY BERHAD

Company No.: 200901035667 (878786-H)

AFFIX

STAMP

HERE

SECURITIES SERVICES (HOLDINGS) SDN. BHD.

Level 7, Menara Milenium Jalan Damanlela,

Pusat Bandar Damansara, Damansara Heights,

50490 Kuala Lumpur, Malaysia

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1. A member who has appointed a proxy or attorney or authorised representative to attend, participate and vote at this 13th AGM via RPV must request his/her proxy to register himself/herself for RPV at SS E Solutions Sdn. Bhd. via Securities Services ePortal's platform at https://sshsb.net.my. Please follow the Procedures for RPV in the Administrative Guide.
2. The Proxy Form with the duly registered Power of Attorney referred to in Note 4 above, if any, in hardcopy form or by electronic means in the following manner and must be received by the Company no later than Saturday, 27 May 2023 by 2:00 pm or at any adjournment thereof:
3. 1. In Hardcopy Form
      The proxy form shall be deposited at the Share Registrar's office, Securities Services (Holdings) Sdn. Bhd. at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur, Wilayah Persekutuan, Malaysia.
   2. By Electronic Means
      The proxy form shall be electronically lodged via Securities Services ePortal's platform at https://sshsb.net.my/ or by fax to [phone] or by email to [e-mail].

By submitting the duly executed proxy form, the members and his/her proxy consent to the Company (and/or its agents/service providers) collecting, using and disclosing the personal date thereon in accordance with the Personal Data Protection Act, 2010 for the purpose of this AGM and any adjournment thereof.

1. For the purpose of determining a member who shall be entitled to attend this 13th AGM, the Company shall be requesting Bursa Malaysia Depository Sdn. Bhd., in accordance with Article 69 of the Company's Constitution and Section 34(1) of the SICDA to issue a General Meeting Record of Depositors as at 19 May 2023. Only a depositor whose name appears in the General Meeting Record of Depositors as at 19 May 2023 shall be entitled to attend the said Meeting or appoint a proxy to attend and / or vote in his / her stead.
2. Pursuant to Paragraph 8.29A(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, all resolutions set out in the Notice of the 13th AGM of the Company shall be put to vote by way of a poll.

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