On behalf of AirAsia, RHB Investment Bank Berhad (“RHB Investment Bank”) wishes to announce that the Board of Directors of AirAsia has approved the Company to carry out a sale process for the purpose of divesting all or a substantial portion of its equity interest in AAC or its business or assets (“Potential Divestment”).

The Company has appointed RHB Investment Bank, Credit Suisse (Singapore) Limited and BNP Paribas (acting through its Singapore branch and BNP Paribas Capital (Malaysia) Sdn Bhd) as the Joint Advisers for the Potential Divestment. RHB Investment Bank has also been appointed as the Sole Principal Adviser for the implementation of the proposal arising from the Potential Divestment.

Further announcement on the development of the Potential Divestment will be made in due course.

AAC carries out the aircraft leasing business within the AirAsia group and with third party airlines. Moving forward, AirAsia intends for AAC’s lessor offerings to include: (i) purchase of aircraft from original equipment manufacturers or airlines or lessors and lease to airline customers; (ii) aircraft portfolio trading to enhance asset diversification strategy; and (iii) expansion of sale and leaseback portfolio by access to immediate delivery slots. AAC’s ancillary services offered include maintenance program, spare engine leasing, as well as advisory.

This announcement is dated 29 August 2016.