(Reference is made to the Company’s announcements dated 17 December 2024, 13 January 2025, 10 March 2025 and 28 March 2025 in relation to the Proposals (“Announcements”). All abbreviations and definitions used herein shall have the same meanings as the words and expressions defined in the Announcements.)

On behalf of the Board, Maybank IB wishes to announce that Telaxis had, on 11 April 2025, issued and our Company had on even date accepted a revised undertaking (“Revised Undertaking”).

Pursuant to the Revised Undertaking, Maybank IB wishes to clarify that based on the Illustrative Issue Price of the Rights Shares, Telaxis has irrevocably undertake to apply and subscribe for an aggregate of 305,555,560 Rights Shares (“Minimum Subscription Level”) in the following manner:

1. to subscribe in full for its entitlement under the Proposed Rights Issue with Warrants based on its shareholding as at the Entitlement Date, totalling to 255,101,334 Rights Shares; and
2. to apply and subscribe for an additional 50,454,226 Rights Shares, by way of excess Rights Shares application, which are not validly taken up by other Entitled Shareholders and/or their renouncee(s) under the Proposed Rights Issue with Warrants i.e. in accordance with the terms and conditions in the Abridged Prospectus and subject to the Public Spread Requirement for the allotment of the Rights Shares.

The quantum of the Revised Undertaking and Minimum Subscription Level was determined after taking into account:

1. the Undertaking Shareholder’s respective Rights Shares entitlement as at the date of the Undertaking;
2. the Public Spread Requirement; and
3. the funding requirements of the Group as set out in Section 3 of the announcement dated 17 December 2024 and the Proposed Subscription.

This announcement is dated 11 April 2025.