On behalf of the board of directors of OIB (“Board”), UOB Kay Hian Securities (M) Sdn Bhd (“UOBKH”) wishes to announce that the Company proposes to undertake the following:-

1. proposed bonus issue of 154,858,394 new ordinary shares in OIB (“OIB Share(s)” or “Share(s)”) (“Bonus Share(s)”), on the basis of 1 Bonus Share for every 1 existing OIB Share held by the shareholders of OIB whose names appear in the Record of Depositors of the Company at the close of business on an entitlement date to be determined later (“Entitled Shareholders”) (“Entitlement Date”) (“Proposed Bonus Issue”); and
2. proposed renounceable rights issue of up to 154,858,394 new OIB Shares (“Rights Share(s)”) on the basis of 1 Rights Share for every 1 existing OIB Share held by the Entitled Shareholders at the close of business on the Entitlement Date, together with 154,858,394 free detachable warrants in OIB (“Warrant(s)”) on the basis of 1 Warrant for every 1 Rights Share subscribed by the Entitled Shareholders (“Proposed Rights Issue with Warrants”)

(collectively referred to as the “Proposals”).

Further details on the Proposals are set out in the attachment below.

This announcement is dated 7 January 2021.