AirAsia Berhad (“AAB” or “Company”) is pleased to announce that it has on 27 June 2016 entered into a Share Sale Agreement (“SSA”) with Datin Charlene Yeo Ming Ling (”CY”) to purchase 881,873 ordinary shares of RM1.00 each (“Acquisition Shares”) in T & Co Coffee Sdn Bhd (Company No: 1045035-W) (“T&Co”), which is equivalent to eighty percent (80%) of the share capital of T&Co for a total purchase consideration of RM914,000 upon terms and conditions as stipulated in the SSA (“Transaction”). The purchase consideration shall be satisfied in part by cash of RM814,000 and in part by AirAsia credit shell of RM100,000 which may be used to pay for flights on all carriers within AirAsia Group. The Company would also like to announce that it has entered into a Shareholders Agreement (“SHA”) with CY, Dato’ Douglas Cheng Heng Lee (“DC”) and T&Co to govern the foregoing parties’ relationship as the shareholders of T&Co.

Please refer to the attachment for further details.

This announcement is dated 27 June 2016.