We wish to announce that Affin is implementing a share ownership programme known as “Affin Miles” (“Share Ownership Programme”) whereby eligible employees who are in employment within the Group as of 30 June 2025, excluding those who fall under the “Exclusions” category as per the table below (“Eligible Employees”), will each receive 100 existing ordinary shares in the share capital of Affin (“Affin Shares”), which will be transferred to the Eligible Employees in the year 2026.

Currently, the Share Ownership Programme is to be implemented for the year 2025 only and any future allocation to the employees of the Group under Affin Miles will be reassessed and a new structure may be proposed for Affin’s Board of Directors’ (“Board”) deliberation and approval. For clarity, Affin Miles is an employee incentive payment and not a share issuance scheme involving an issuance of new Affin Shares under the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”).

Further details of Affin Miles are as follows:

The rationale and justifications for the implementation of Affin Miles are as follows:

(a) to give a sense of ownership and belonging in Affin through the equity participation;

(b) to align the interests of the employees of the Group and the shareholders of Affin; and

(c) demonstrates the Board’s commitment towards employees’ recognition and sharing the Company’s journey under the Group’s Affin Accelerate 2028 plan.

For illustrative purposes, based on the number of Eligible Employees as at 31 March 2025 of 5,556 and assuming an average purchase price of the Affin Shares of RM2.80 per share, this allocation of Affin Shares will involve 555,600 Affin Shares amounting to approximately RM1,555,680.

The Share Ownership Programme will not have any material financial effects on the Group’s net assets, gearing and earnings as well as no effects on the share capital and substantial shareholders’ shareholdings of Affin. Affin does not have any convertible securities.

The Share Ownership Programme does not require any approval from Affin’s shareholders or authorities.

None of the directors, major shareholders or chief executive of Affin and/or persons connected with them have any interest, direct or indirect, in the Share Ownership Programme.

Barring any unforeseen circumstances, the Share Ownership Programme is expected to be implemented in June 2025.

This announcement is dated 30 April 2025.