We are pleased to announce that the ALIBABA-C12 have expired at 5.00 p.m. on 04 October 2022 ("Expiry Date"). The Cash Settlement Amount shall be an amount in the Settlement Currency (if greater than zero), calculated as follows:

Cash Settlement Amount
= Number of Structured Warrants X (Settlement Price - Exercise Price) X (1/Exercise Ratio) X Settlement Exchange Rate
= Number of Structured Warrants X (HKD 77.0100 - HKD 90.0000) X (1/25.0000) X RM/HKD 0.5918
= Number of Structured Warrants X RM 0.0000

The Settlement Price has been determined at HKD 77.0100, being the average closing price of the ALIBABA Shares on The Stock Exchange of Hong Kong Limited for the five (5) HK Market Days prior to and including the HK Market Day immediately before the Expiry Date.

As the Settlement Price is less than the Exercise Price, the Cash Settlement Amount is negative. Warrantholders will not be entitled to receive any payment of the Cash Settlement Amount.

Terms not defined in this announcement shall have the meanings given to them in the Term Sheet for the warrants and the Base Prospectus.

This announcement is dated 04 October 2022.