The Board of Directors of Naim wishes to announce that Naim intends to seek approval from its shareholders for the proposed renewal of authority for the Company to purchase its own shares of up to ten percent (10%) of the issued share capital of the Company ("Share Buy-Back Authority") at the Company's forthcoming 18th Annual General Meeting ("18th AGM").

The Company had at the 17th Annual General Meeting held on 24 May 2019 obtained the renewal of authority from the Company's shareholders to purchase its own shares. The Share Buy-Back Authority will lapse at the forthcoming 18th AGM and hence, shareholders' approval for the renewal of the Share Buy-Back Authority will be sought at the forthcoming 18th AGM of the Company.

The Share Buy-Back Statement containing the details of the above proposal will be despatched to the shareholders of the Company in due course.

This announcement is dated 19 May 2020.