Pursuant to Rule 9.19 (26) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, XOX Bhd (“XOX” or “the Company”) wishes to announce that XOX (Hong Kong) Limited, a wholly-owned subsidiary of the Company, had on 17 July 2020 acquired from the open market an aggregate of 6,600,000 ordinary shares in M3 Technologies (Asia) Berhad (“M3 Technologies”), representing 1.02% of the total issued and paid up share capital of M3 Technologies for a total purchase consideration of approximately RM741,180.00 (“Acquisition”). Upon completion of the Acquisition, the total shareholdings held by XOX in M3 Technologies are as follows :

In connection therewith, the Company is deemed to be a substantial shareholder of M3 Technologies on 17 July 2020.

The Acquisition was based on the prevailing market price of M3 Technologies at the time of purchased and was funded via internally generated funds.

The Acquisition will not have any effects on the share capital and shareholding structure of the Company as the Acquisition was fully satisfied in cash and is not expected to have any material immediate effect on the earnings per share, net assets per share and gearing of XOX for the financial year ending 30 September 2020.

The highest percentage ratio applicable to the Acquisition pursuant to Rule 10.02(g) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad is 0.8%.

The Acquisition is not subject to the approval of the shareholders of the Company or from any relevant authorities.

None of the directors and/or the major shareholders of XOX and/or persons connected with them have any interest, direct or indirect, in the Acquisition.

This announcement is dated 24 July 2020.