We wish to announce that PBBANK-C82 had expired at 9.00 a.m. on 29 May 2023 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of PBBANK-C82 exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of PBBANK-C82 exercised x (1/5) x (RM3.9149 - RM4.8800) 
= Number of PBBANK-C82 exercised x RM0.0000 

The Closing Price of RM3.9149 is the average daily volume weighted average price (VWAP) of the ordinary shares of PBBANK on Bursa Malaysia Securities Berhad for the five (5) market days prior to and including the market day immediately before the Expiry Date. The PBBANK-C82 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 PBBANK-C82 will cease to be valid and all our obligations in respect to PBBANK-C82 shall terminate absolutely.

This announcement is dated 29 May 2023.