Reference is made to the Company’s announcements dated 25 April 2024, 26 July 2024, 4 September 2024, 20 September 2024, 14 October 2024, 24 October 2024, 4 November 2024, 24 January 2025, 24 March 2025, 30 May 2025, 31 July 2025, 28 August 2025, 29 September 2025, 17 October 2025, 29 October 2025, 19 November 2025, 21 November 2025, 1 December 2025, 2 December 2025, 3 December 2025, 4 December 2025, 5 December 2025, 8 December 2025, 10 December 2025 and 31 December 2025 as well as the Company’s circular to shareholders dated 20 September 2024 (“Circular”) in relation to the Proposals. Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as the Circular.

On behalf of the Board, RHB Investment Bank wishes to announce that Bursa Securities has, via its letter dated 6 January 2026, resolved not to approve the application by the Company for an extension of time to complete the implementation of the Distribution.

Notwithstanding this, the Distribution will still be implemented concurrently with the AAX Private Placement. As announced on 31 December 2025, the Distribution Shares are intended to be allotted and issued by AAX concurrently with the placement shares to be issued pursuant to the AAX Private Placement. The Board intends to allot and issue the Distribution Shares soonest when they are allotted and issued concurrently with the AAX Private Placement.

For the avoidance of doubt, Capital A had proceeded to announce the Entitlement Date on the premise that there was sufficient time for the identified investors to provide the necessary documentation. At the time of the announcement of the Entitlement Date, there was no indication suggesting that the identified investors would be unable to meet the deadlines set by AAX, and it was reasonable to expect that the AAX Private Placement would be completed within the approved timeframe, i.e. by 31 December 2025, in line with AAX’s target completion date.

In addition, the announcement of the Entitlement Date was a necessary step to allow Capital A to submit a supplemental application to the High Court for an ancillary order pursuant to Section 116 of the Companies Act 2016. This application relates to the reduction of the Company’s issued share capital pursuant to the Distribution, amounting to approximately RM2.7 billion, based on the closing market price of AAX Shares of RM1.62 on the Entitlement Date (“Supplemental Court Order”). By way of background, the quantum of the capital reduction can only be determined by reference to the closing market price of AAX Shares on the Entitlement Date. As such, the application for the Supplemental Court Order could not be made until the Entitlement Date has been announced. In this regard, the Entitlement Date on 3 December 2025 was carefully planned to provide sufficient buffer for Capital A to obtain the Supplemental Court Order.

This announcement is dated 6 January 2026.