We refer to the announcements dated 20 July 2023, 19 October 2023 and 2 November 2023 in relation to the Company’s application for, among others, the Proposed Relief & PN17 Upliftment (as defined therein) and the Company’s appeal in respect of Bursa Securities’ decision on the said application (“Appeal”). Unless otherwise stated, all terms used herein shall have the same meaning as defined in the said announcements.

On behalf of the Board of Directors of AAX, AmInvestment Bank Berhad is pleased to announce that Bursa Securities has, vide its letter dated 21 November 2023, after taking into consideration the relevant facts and circumstances, including among others, the following:

(i) the Company no longer triggers any prescribed criteria under Paragraph 2.1 of Practice Note 17 of the Listing Requirements (“PN17”);

(ii) the Company having complied with the criteria for waiver and upliftment from being classified as a PN17 company; and

(iii) the quarterly report for the financial period ended 30 September 2023 (“Quarterly Results”) which is due by 30 November 2023 pursuant to Paragraph 9.22 of the Listing Requirements,

resolved to allow the Appeal subject to AAX announcing a profit after taxation attributable to the equity holders of AAX in the Quarterly Results (“Condition”).

The upliftment of AAX from being classified as a PN17 company will come into effect on the next market day after fulfilment of the Condition.

This Announcement is dated 21 November 2023.