Unless otherwise stated, the exchange rate of USD1.00: RM4.3850, being Bank Negara Malaysia’s middle rate as at 5.00 p.m. on 2 December 2022, is used throughout this announcement for purpose of translation of USD into RM.

The Board of Directors of GENM (“Board”) refers to GENM’s announcements dated 6 August 2019, 15 August 2019, 20 August 2019, 5 November 2019, 14 November 2019 and 18 November 2019 (collectively, “Announcements”) in respect of the Proposed Transactions. On 19 March 2020, GENM had announced the issuance of up to USD40 million of Series G Preferred Stock of Empire (“Series G”), and on 11 September 2020, 19 March 2021 and 12 October 2021, GENM had announced the issuance of up to USD150 million, USD20 million and USD150 million of Series L Preferred Stock of Empire (“Series L”) respectively (collectively, “Equity Injection Announcements”). The definitions used throughout this announcement, unless stated otherwise, shall have the same meaning(s) as those used in the Announcements and Equity Injection Announcements.

The Board wishes to announce that GENM’s indirect wholly-owned subsidiary, Genting ER II LLC, a Delaware company, had on 5 December 2022 (United States Eastern date/time) entered into a Share Purchase Agreement with Kien Huat Realty III Limited to purchase the entire 1,510 Series F Convertible Preferred Stock of Empire (“Series F”) for a total consideration of USD100 million (or RM438.5 million) (“Proposed Series F Acquisition”).

For further details, please refer to the attachment.

This announcement is dated 5 December 2022.