We refer to the previous announcements in relation to the Proposals. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements.

On behalf of the Board, RHB Investment Bank wishes to announce that the issue price for the first tranche of the Placement comprising up to 188,881,350 Placement Shares has been fixed on 4 June 2021 (“Price-Fixing Date”) at RM0.12 per Placement Share (“First Tranche”).

The issue price of RM0.12 per Placement Share represents a premium of approximately 28.48% over the five (5)-day VWAP of Avillion Shares up to and including 3 June 2021, being the last market day prior to the Price-Fixing Date, of RM0.0934 per Avillion Share.

For information purposes, the actual number of Placement Shares to be placed out under the First Tranche will depend on the final acceptance by the identified placees. Any Placement Share not placed out under the First Tranche will be included in the subsequent tranches. The issue price for each subsequent tranche will be determined and announced by the Board separately.

This Announcement is dated 4 June 2021.