Unless otherwise defined, the abbreviations and definitions used throughout this announcement shall have the same meaning as those defined in ABB’s circular to shareholders dated 26 April 2022 in relation to the Divestment (“Circular”).

Reference is made to the announcements dated 28 January 2022, 1 July 2022 and 5 July 2022 in relation to the Divestment as well as the Circular.

On behalf of the Board, Affin Hwang IB wishes to announce that the Divestment has been completed on 29 July 2022 following the receipt of Affin Hwang IB’s share of the Agreed Pre-Closing Dividend of RM63 million which was received over 2 installments on 9 May 2022 and 25 July 2022 and payment of RM1,354.5 million by the Purchaser to Affin Hwang IB on 29 July 2022, being RM1,417.5 million in aggregate (Affin Hwang IB Provisional Consideration), pursuant to the terms and conditions as set out in the SPA.

Following the completion of the Divestment, AHAM shall cease to be a subsidiary of Affin Hwang IB.

This announcement is dated 29 July 2022.