(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcements dated 6 October 2020 and 14 December 2020, where applicable, unless stated otherwise or defined herein.)

We refer to the announcement dated 17 December 2021 in relation to the Proposed Share Capital Reduction.

On behalf of the Board of Directors of AAX, Mercury Securities wishes to announce that the High Court of Malaya had on 24 January 2022 granted an order confirming the special resolution for the Proposed Share Capital Reduction pursuant to Section 116 of the Companies Act, 2016.

An office copy of the Order will be lodged with the Registrar of Companies for the Proposed Share Capital Reduction to take effect.

The effective date of the Proposed Share Capital Reduction will be announced in due course.

This announcement is dated 24 January 2022.