(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 announcements dated 17 December 2021 and 24 January 2022 in relation to the Proposed Share Capital Reduction.

On behalf of the Board of Directors of AAX, Mercury Securities wishes to announce that an office copy of the sealed Order of the High Court of Malaya confirming the special resolution for the Proposed Share Capital Reduction pursuant to Section 116 of the Companies Act, 2016 has been lodged with the Registrar of Companies on 26 January 2022. Pursuant thereto, the Proposed Share Capital Reduction shall therefore take effect and be deemed completed on 26 January 2022.

This announcement is dated 26 January 2022.