AirAsia Japan Co., Ltd.

Further to the announcement dated 18 July 2014, on the subscription for shares in AirAsia Japan Co., Ltd by AirAsia Investment Ltd, there have not been any further changes in the status of the AirAsia Japan joint venture on the forging of a joint venture cooperation between AirAsia and Octave Japan Infrastructure Fund I GK (“Octave”), Rakuten, Inc. (“Rakuten”), Noevir Holdings Co. Ltd. (“Noevir”) and Alpen Co. Ltd. (“Alpen”) (collectively the “Investors”), to establish a low cost airline in Japan based on the successful AirAsia business model.

This announcement is dated 20 August 2014.