Investors

On behalf of the Board of Directors of Axiata Group Berhad (“Axiata”), CIMB Investment Bank Berhad wishes to announce that Axiata Investments (UK) Limited (“Buyer”), a wholly-owned subsidiary of Axiata, had on 21 December 2015 entered into a sale and purchase agreement (“SPA”) and other ancillary agreements with the parties detailed in the announcement for the acquisition of the entire issued and paid-up capital of Reynolds Holdings Limited (“Reynolds”) (“Proposed Acquisition”) for a total cash consideration of approximately US$1,365.1 million (equivalent to approximately RM5,907.0 million). Reynolds in turn holds 800,000 shares representing 80.0% of the equity interest in Ncell. There will be closing adjustments to the cash consideration of approximately US$1,365.1 million in accordance with the terms of the SPA (as detailed in the announcement).

Please refer to the attachment for the full announcement in relation to the Proposed Acquisition. Also attached is the media release in relation to the Proposed Acquisition.

This announcement is dated 21 December 2015.