We refer to the announcements dated 16 July 2020, 30 July 2020, 1 September 2020, 19 January 2022 and 15 April 2022 in relation to the HOA for the Proposals (“Announcements”). Unless otherwise defined, the abbreviations and definitions used in this announcement shall be the same as those previously defined in the Announcements.

Further to the Announcements, the Company wishes to announce that the Company and S7 have mutually agreed for the Refundable Deposit of RM10,000,000 to be fully repaid by 31 December 2022 via 4 instalments. On 13 May 2022, ALB has received first instalment amounting to RM1.50 million.

If S7 fails to refund the Refundable Deposit in full to ALB by 31 December 2022, ALB shall be entitled to create an enforceable security interest over the Security Documents and enforce its security created under the Security Documents and charge S7 late interest at the rate of four percent (4%) from the day the Refundable Deposit is supposed to be paid till the date it is fully repaid.

This announcement is dated 13 May 2022.