On behalf of the Board of Directors of the Company, RHB Investment Bank Berhad wishes to announce that the Company had on 1 November 2023 entered into a letter of intent with GMFI, a special purpose acquisition corporation listed on the National Association of Securities Dealers Automated Quotations ("NASDAQ") in the United States of America for the proposed business combination between GMFI and Capital A International ("CAPI"), a special purpose corporation to be formed by the Company under the laws of Cayman Islands or a newly formed entity ("Proposed Business Combination"). The Proposed Business Combination entails the acquisition of all the issued and outstanding share capital of CAPI by GMFI, that will result in CAPI becoming a new publicly listed company on NASDAQ.

After incorporation of CAPI, CAPI will acquire the following from the Company:

(i) 100% equity interest in Brand AA Sdn Bhd, the registered proprietor for all the rights in AirAsia Brand, which is principally involved in the brand management of the AirAsia Brand; and

(ii) 100% equity interest in Fleet Consolidated Pte Ltd, which will primarily be responsible for the procurement and delivery of the requisite aircraft for the aviation group based on the agreed allocation plan.

Further details of the Letter of Intent and the Proposed Business Combination are set out in the attachment below.

This Announcement is dated 1 November 2023.