We refer to the announcements dated 22 May 2023 and 8 June 2023 in relation to the Proposed Placement. Unless otherwise stated, all terms used herein shall have the same meaning as defined in the said announcements.

On behalf of the Board, AmInvestment Bank wishes to announce that Bursa Securities had, vide its letter dated 9 June 2023, confirmed that it has resolved to approve the listing and quotation of 32,258,066 new AAX Shares to be issued pursuant to the Proposed Placement on the Main Market of Bursa Securities. The said approval granted by Bursa Securities is subject to the following conditions:

(i) AAX and AmInvestment Bank must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Placement;

(ii) AmInvestment Bank is required to furnish Bursa Securities with details of the placees in accordance with Paragraph 6.15 of the Listing Requirements as soon as practicable before the listing of the new AAX Shares to be issued pursuant to the Proposed Placement;

(iii) AAX and AmInvestment Bank are required to inform Bursa Securities upon completion of the Proposed Placement;

(iv) AAX is required to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Placement is completed; and

(v) AAX is required to provide quarterly updates via Bursa LINK (simultaneous with the submission of its quarterly report), the following:

(a) the status of each of the event or purpose for which the total proceeds raised from the Proposed Placement are utilised for, including but not limited to, the percentages of allocated proceeds utilised;

(b) where relevant, details on where the balance of proceeds raised is being placed (pending utilisation). If it is parked with asset management company/fund manager, to disclose the name of the asset management company/fund manager; and

(c) summary of Placement Shares issued and allotted as follows:

a. issuance date of the Placement Shares;

b. quantity of Placement Shares issued and allotted; and

c. aggregate number of Placement Shares issued and allotted as at the end of each quarter.

Following the receipt of Bursa Securities’ approval for the listing and quotation of the Placement Shares, on behalf of the Board, AmInvestment Bank wishes to announce that the conditions precedent as set out in the Subscription Agreements have been fulfilled. Accordingly, the Subscription Agreements have become unconditional in accordance with the terms and conditions contained therein on 9 June 2023.

This Announcement is dated 9 June 2023.