The terms used herein shall have the same meaning as those defined in the circular to shareholders dated 19 May 2020 in relation to the Proposed Share Capital Reduction, unless otherwise stated.

We refer to the announcements dated 25 February 2020, 19 May 2020, 29 June 2020 and 25 August 2020 in relation to the Proposed Share Capital Reduction.

On behalf of the Board, Affin Hwang IB wishes to announce that the High Court had on 13 October 2020 granted an order confirming the Proposed Share Capital Reduction. The sealed court order of the High Court will be extracted and lodged with the Registrar of Companies for the Proposed Share Capital Reduction to take effect.

The effective date of the Proposed Share Capital Reduction will be announced in due course.

This announcement is dated 13 October 2020.