On behalf of the Board of Directors of the Company, RHB Investment Bank Berhad wishes to announce that the Company proposes to undertake the following corporate proposals:

(i) the Company had on 25 April 2024 entered into the following:

(a) a conditional share sale and purchase agreement with AirAsia Group Sdn Bhd (formerly known as AirAsia Aviation Group Sdn Bhd) ("AAG") for the disposal of its 100% equity interest in AirAsia Aviation Group Limited, a wholly-owned subsidiary of the Company ("Proposed AAAGL Disposal") for a disposal consideration of RM3,000,000,000 to be satisfied in the manner as set out in Section 2.1 of the Announcement below; and

(b) a conditional share sale and purchase agreement with AAG for the disposal of its 100% equity interest in AirAsia Berhad, a wholly-owned subsidiary of the Company ("Proposed AAB Disposal") for a disposal consideration of RM3,800,000,000  to be satisfied in the manner as set out in Section 3.1 of the Announcement below;

(ii) proposed distribution of new ordinary shares in AAG to be received as consideration shares for the Proposed AAAGL Disposal of approximately RM2,200.0 million in value, to the entitled shareholders of the Company based on their respective shareholdings in the Company on an entitlement date to be determined later by way of distribution-in-specie via a reduction and repayment of the Company's share capital pursuant to Section 116 of the Companies Act 2016 ("Proposed Distribution"). The Proposed Distribution will be undertaken as part of the Proposed AAAGL Disposal's completion process.

The full details of the Proposals as set out in the Announcement below.

This Announcement is dated 25 April 2024.

Please refer attachment below.