On behalf of the Board of Directors of REB, Hong Leong Investment Bank Berhad (“HLIB”) wishes to announce that the Company proposes to undertake an offset of USD49,562,125.54 or RM206,508,856.40 (RM1.00:USD0.2400) debt to be owed to Super Racer Limited (“SRL” or “Offeror”) (subject to the completion of the transfer and assignment of the Debt (as defined in the attached document) from MIE Holdings Corporation to SRL) via the issuance of 1,032,544,282 new ordinary shares in REB (“REB Shares” or “Shares”) to SRL at an issue price of RM0.20 per REB Share (“Proposed Debt Settlement”).

In conjunction with the Proposed Debt Settlement, SRL and Mr. Cheung Siu Fai, being the person acting in concert with SRL intend to seek an exemption from the Securities Commission Malaysia under Paragraph 4.08(1)(b) of the Rules on Take-Overs, Mergers and Compulsory Acquisitions from the obligation to undertake a mandatory take-over offer for the remaining REB Shares and the outstanding warrants 2014/2022 issued by REB which are expiring on 15 August 2022 not already held by them upon completion of the Proposed Debt Settlement (“Proposed Exemption”).

Further details of the announcement are set out in the attached document.

This announcement is dated 30 June 2022.