We wish to announce that Affin Bank had on 19 March 2025 entered into a Memorandum of Understanding ("MOU") with MUFG Bank (Malaysia) Berhad (MUFG) for the purpose of establishing the basis of co-operation and collaboration between the parties.

Under this collaboration, both parties agree to pursue business co-operation in strategic sectors and initiatives aligned with the industrial masterplans of Japan and Malaysia. This includes, but is not limited to, sectors such as semiconductors and healthcare, and initiatives such as Green Transition and Digital Transformation. The cooperation will also focus on economic development in regions identified as strategic growth areas by the Malaysian government. Both parties will work together in these strategic areas and any other areas that serve the mutual interests of both parties and the national interests of Japan and Malaysia.

The MOU shall commence from the date of the MOU and shall continue:

(a) for a period of three (3) years; or

(b) until any one of the parties terminates the MOU pursuant to the right to termination under this MOU.

Further information is set out in the attached press release.

This announcement is dated 19 March 2025.