Unless otherwise stated, the exchange rate of USD1.00: RM4.1645, being Bank Negara Malaysia's middle rate as at 5.00 p.m. on 10 September 2020, is used throughout this announcement for purpose of translation of USD into RM.

The Board of Directors of GENM (“Board”) refers to GENM’s announcements dated 6 August 2019, 15 August 2019, 20 August 2019, 5 November 2019, 14 November 2019 and 18 November 2019 (collectively, “Announcements”) in respect of the Proposed Transactions. On 19 March 2020, GENM had also announced a subscription agreement of up to USD40 million of Series G Preferred Stock of Empire (“Series G”). The definitions used throughout this announcement, unless stated otherwise, shall have the same meaning(s) as those used in the Announcements and Series G.

The Board wishes to announce that GENM’s indirect wholly-owned subsidiary, Genting ER II LLC (“GER II”), a Delaware company, had on 11 September 2020 (United States Eastern date/time) entered into a Subscription Agreement to subscribe for up to USD150 million (or approximately RM625 million) of Series L Preferred Stock of Empire (“Equity Injection/Series L”). The proceeds from the Series L will be utilised by Empire for working capital and financing purposes.

For further details, please refer to the attachment.

This announcement is dated 11 September 2020.