(Unless otherwise defined, terms used in this announcement shall carry the same meanings as set out in the announcements dated 12 January 2021, 20 January 2021 and 21 January 2021 in relation to the Private Placement (“Announcements”))

We refer to the Announcements in relation to the Private Placement.

On behalf of the Board of Directors of Handal (“Board”), Alliance Investment Bank Berhad wishes to announce that the Board had on 22 February 2021 (“Price-Fixing Date”) fixed the issue price for 13 million Placement Shares, being the first (1st) tranche of the Private Placement at RM0.2350 per Placement Share (“Issue Price”).

The Issue Price represents a discount of RM0.0226 or approximately 8.77% to the 5-day volume weighted average market price of Handal Shares up to and including 19 February 2021, being the last market day immediately preceding the Price-Fixing Date of RM0.2576 per Handal Share.

This announcement is dated 22 February 2021.