We refer to the following news articles entitled:

1. “Capital A to divest aviation businesses to AirAsia X” featured in The Star on 29 November 2022; and

2. “AirAsia X seeks to merge with Capital A’s aviation arm AirAsia, confirms The Edge report” featured in The Edge CEO Morning Brief on 30 November 2022.

The Company wishes to clarify that it is still in the midst of formulating the final form of its proposed PN17 regularisation plan. As part of this ongoing process, the Company is considering multiple options, including creating a clear separation between Capital A’s three main business portfolios via a potential disposal of the Company’s aviation business to AirAsia X Berhad. However, the Company clarifies that the plan remains a work in progress, and will be subject to multiple approvals including by the Company’s Board of Directors, shareholders, and Bursa Malaysia Securities Berhad.

The Company will make the requisite announcement(s) in due course.

This announcement is dated 30 November 2022.