Reference is made to the Company’s announcements dated 1 July 2021 in respect of the Application. Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the said announcements.

The Board of Directors of MPay wishes to announce that MPSB, which the Application was supported by the Strategic Partners, was not one of the successful applicants for the digital bank licence.

MPay wishes to thank the authorities, our Strategic Partners and the consultant for their time and efforts in this Application.

This announcement is dated 5 May 2022.