We wish to announce that MATRIX-CM had expired at 9.00 a.m. on 7 November 2022 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of MATRIX-CM exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of MATRIX-CM exercised x (1/2) x (RM1.4344 - RM1.5333) 
= Number of MATRIX-CM exercised x RM0.0000 

The Closing Price of RM1.4344 is the average daily volume weighted average price (VWAP) of the ordinary shares of MATRIX for the five (5) market days prior to and including the market day immediately before the Expiry Date. The MATRIX-CM 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 MATRIX-CM will cease to be valid and all our obligations in respect to MATRIX-CM shall terminate absolutely.

This announcement is dated 7 November 2022.