We wish to announce that PPB-CL had expired at 9.00 a.m. on 18 October 2021 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of PPB-CL exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of PPB-CL exercised x (1/18) x (RM18.4650 - RM18.8800) 
= Number of PPB-CL exercised x RM0.0000 

The Closing Price of RM18.4650 is the average daily volume weighted average price (VWAP) of the ordinary shares of PPB for the five (5) market days prior to and including the market day immediately before the Expiry Date. The PPB-CL is deemed to have been automatically exercised on the Expiry Date.

As the Cash Settlement Amount is less than Zero, warrantholders will not be entitled to receive any payment from us and all outstanding and unexercised PPB-CL will cease to be valid and all our obligations in respect to PPB-CL shall terminate absolutely.

This announcement is dated 18 October 2021.