Investors

We are pleased to announce that Axiata Group Berhad (“Axiata”) had today (“Date of Offer”) offered 16,134,700 ordinary shares in Axiata (“Axiata Shares”) under the Axiata LTIP to the eligible employees (“Eligible Employees”) of the Axiata Group of Companies (“Axiata Group”) (“Long Term Incentive Plan Share Offer”).

Details of the Long Term Incentive Plan Share Offer are as follows:

• Exercise Price of Axiata Shares

Not applicable as the Axiata Shares will be issued upon vesting to the Eligible Employees.

• Market Price of Axiata Share

Closing Price of Axiata Share on Date of Offer: RM2.40 

• Vesting Period

The rights offered under the Long Term Incentive Plan Share Offer, namely the performance-based grant and time-based grant.  The performance-based grant is expected to vest over a 3-year period from the acceptance date of the offer, subject to the Eligible Employees meeting expectation of the individual performance, the Axiata Group meeting certain financial targets exceeding certain thresholds. The time-based grant is expected to vest one third each year over a 3-year period.

Unless the Axiata Group meets its highest performance targets the total amount of rights offered to the Eligible Employees under the Long Term Incentive Plan Share Offer for the performance-based grant, which will vest will be lower than the total amount of Axiata Shares offered.

• Number of Axiata Shares offered to Directors

Axiata has made offers to the executive directors, Vivek Sood (Group Chief Executive Officer & Managing Director) and Dr Hans Wijayasuriya (Group ED & CEO of Telecommunication Business).  The offers comprise a total of 2,915,500 Axiata Shares (performance-based grant and time-based grant) that may vest upon meeting the respective performance; and up to an additional total of 1,728,400 shares if the super stretched Axiata Group performance is met at the point of vesting.

This announcement is dated 10 November 2023.