Pursuant to Paragraph 8.23(1)(iii) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Company wishes to announce that it had provided financial assistance in the form of advances to its Associate and Subsidiary Companies during the third quarter ended 30 September 2020 as follows: -

1. On 16 July 2020, a total of USD1.0 million advances (equivalent to RM4.2 million based on the exchange rate of 4.1585 as at 30 September 2020) was provided to AirAsia Japan Co., Ltd. (“AAJ”);
2. On 21 August 2020, a total of USD1.8 million advances (equivalent to RM7.5 million based on the exchange rate of 4.1585 as at 30 September 2020) was provided to AAJ;
3. On 23 September 2020, a total of USD1.1 million advances (equivalent to RM4.6 million based on the exchange rate of 4.1585 as at 30 September 2020) was provided to PT Indonesia AirAsia (“IAA”) through its wholly-owned subsidiary, AirAsia Berhad; and
4. On 7 August 2020, a total of USD1.0 million advances (equivalent to RM4.2 million based on the exchange rate of 4.1585 as at 30 September 2020) was provided to Big Pay Pte. Ltd. (“Big Pay”) through its wholly-owned subsidiary, AirAsia Digital Sdn. Bhd. (formerly known as Redbeat Ventures Sdn. Bhd.),

(Collectively, referred to as “the Financial Assistance”).

The Financial Assistance provided was in the ordinary course of business and to facilitate the running of the operations and financial affairs of AAJ, IAA and Big Pay.

The Financial Assistance provided does not have any material effect on the earnings per share, net assets per share and gearing of the Company and its subsidiaries.

This announcement is dated 24 November 2020.

Note: The exchange rate used is based on the exchange rate of Bank Negara Malaysia on 30 September 2020 USD1: RM4.1585