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ISSUANCE OF 223,535,280 FREE WARRANTS IN AIRASIA X BERHAD ("AAX" OR THE "COMPANY") ("WARRANTS") ON THE BASIS OF 1 WARRANT FOR EVERY 2 ORDINARY SHARES IN AAX ("SHARES") HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 18 DECEMBER 2025 ("ENTITLED SHAREHOLDERS")
Each Warrant carries the entitlement to subscribe for 1 new Share at the exercise price of RM1.64 at any time during the period commencing on and including 24 December 2025 (being the date of issuance of the Warrants) and ending on the close of business at 5.00 p.m. on 23 December 2030 (being the expiry of the tenure of the Warrants) ("Exercise Period"), subject to any adjustments that may be made from time to time in accordance with the provisions of the deed poll constituting the Warrants dated 4 December 2025. Any Warrant not exercised during the Exercise Period will thereafter lapse and cease to be valid for any purpose and shall be cancelled and treated to have been cancelled forthwith. If the maturity date of the Warrants falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 30 December 2025.