We wish to announce that JTIASA-CW had expired at 9.00 a.m. on 10 March 2025 ("Expiry Date") and the Cash Settlement Amount shall be calculated as set out below:

Cash Settlement Amount
= Number of JTIASA-CW exercised x (1/Exercise Ratio) x (Closing Price - Exercise Price) 
= Number of JTIASA-CW exercised x (1/2) x (RM1.1887 - RM1.6800) 
= Number of JTIASA-CW exercised x RM0.0000 

The Closing Price of RM1.1887 is the average daily volume weighted average price (VWAP) of the ordinary shares of JTIASA on Bursa Malaysia Securities Berhad for the five (5) market days prior to and including the market day immediately before the Expiry Date. The JTIASA-CW 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 JTIASA-CW will cease to be valid and all our obligations in respect to JTIASA-CW shall terminate absolutely.

This announcement is dated 10 March 2025.