We refer to the announcement dated 29 February 2024 by ABB on its quarterly report on consolidated results for the financial year ended 31 December 2023, wherein the Board of Directors of ABB (“Board”) has proposed a single-tier final dividend in respect of the financial year ended 31 December 2023 of 5.76 sen per ordinary share in ABB (“ABB Share”) (“Proposed Final Dividend”), subject to shareholders’ approval at the annual general meeting to be convened.

On behalf of the Board, Affin Hwang Investment Bank Berhad wishes to announce that:

(i)         the Board has determined that the 7th DRP be applied to the Proposed Final Dividend and 100% of the Proposed Final Dividend can be elected to be reinvested in new ABB Shares in accordance with the 7th DRP; and

(ii)        Bank Negara Malaysia has granted its approval on 28 February 2024 for the increase in the issued share capital of ABB pursuant to the 7th DRP limited to the total value of the Proposed Final Dividend.

This announcement is dated 29 February 2024.