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, 25 August 2020 and 13 October 2020 in relation to the Proposed Share Capital Reduction.

On behalf of the Board, Affin Hwang IB wishes to announce that the sealed court order of the High Court confirming the Proposed Share Capital Reduction has been lodged with the Registrar of Companies on 21 October 2020. Pursuant thereto, the Proposed Share Capital Reduction shall therefore take effect and be deemed completed on 21 October 2020.

This announcement is dated 21 October 2020.