We wish to announce that MAXIS-C23 had expired at 9.00 a.m. on 17 December 2021 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of MAXIS-C23 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of MAXIS-C23 exercised x (1/5) x (RM4.3419 - RM5.2000) 
= Number of MAXIS-C23 exercised x RM0.0000 

The Closing Price of RM4.3419 is the average daily volume weighted average price (VWAP) of the ordinary shares of MAXIS for the five (5) market days prior to and including the market day immediately before the Expiry Date. The MAXIS-C23 is deemed to have been automatically exercised on the Expiry Date.

As the Cash Settlement Amount is less than Zero, warrantholders will not be entitled to receive any payment from us and all outstanding and unexercised MAXIS-C23 will cease to be valid and all our obligations in respect to MAXIS-C23 shall terminate absolutely.

This announcement is dated 17 December 2021.