We are pleased to announce that the HSI-C7Z have expired at 5.00 p.m. on 28 April 2020 (Expiry Date). The Cash Settlement Amount shall be an amount in the Settlement Currency (if greater than zero), calculated as follows:

Cash Settlement Amount
= Number of Structured Warrants X (Settlement Level  Exercise Level) X (1/Exercise Ratio) X Multiplier X Settlement Exchange Rate
= Number of Structured Warrants X (24,435.0000  28,000.0000) X (1/1200.0000) X HKD1.00 X RM/HKD 0.5632
= Number of Structured Warrants X RM 0.0000

The Settlement Level has been determined at 24,435.0000, being the final settlement price for settling the corresponding spot-month index futures contracts scheduled to expire on the Expiry Date.

As the Settlement Level is less than the Exercise Level, the Cash Settlement Amount is negative. Warrantholders will not be entitled to receive any payment of the Cash Settlement Amount.

Terms not defined in this announcement shall have the meanings given to them in the Term Sheet for the warrants and the Base Prospectus.

This announcement is dated 28 April 2020.