Investors

1. INTRODUCTION

On 15 February 2019, Axiata Group Berhad (“Axiata”) announced that it had, via its wholly-owned subsidiary, Axiata Investments (Singapore) Limited accepted the Voluntary Conditional General Offer made by Konnectivity Pte. Ltd. (“Offeror”) in accordance with Rule 15 of the Singapore Code on Take-overs and Mergers to acquire all the issued and paid-up ordinary shares in the capital of M1 Limited (excluding treasury shares) other than those already owned, controlled or agreed to be acquired by the Offeror, its related corporations and their respective nominees.

The cash proceeds from the Disposal amounts to SGD546.7 million (equivalent to RM1,649.3 million) (“Cash Proceeds”).

2. DETAIL OF UTILISATION OF CASH PROCEEDS

The Board of Directors of Axiata wishes to announce that the Cash Proceeds is expected to be utilised as follows:-

[Note: Unless otherwise stated, the exchange rate of Singapore Dollar (“SGD”) 1.00: Malaysian Ringgit (“RM”) 3.01650 is the exchange rate prevailing as at 27 February 2019, as published by Bank Negara Malaysia which is the date when the Cash Proceeds was received by Axiata]

This announcement is dated 22 March 2019.