We wish to announce that AAX-C28 had expired at 9.00 a.m. on 26 January 2026 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of AAX-C28 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of AAX-C28 exercised x (1/1.9308) x (RM1.6778 - RM1.8149) 
= Number of AAX-C28 exercised x RM0.0000 

The Closing Price of RM1.6778 is the average daily volume weighted average price (VWAP) of the ordinary shares of AAX on Bursa Malaysia Securities Berhad for the five (5) market days prior to and including the market day immediately before the Expiry Date. The AAX-C28 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 AAX-C28 will cease to be valid and all our obligations in respect to AAX-C28 shall terminate absolutely.

This announcement is dated 26 January 2026.