Memorandum Of Understanding

Further to the announcement made on 7 March 2022 pertaining to the Memorandum of Understanding ("MOU") between AirAsia Superapp Sdn. Bhd., a substantially-owned subsidiary of Capital A, and CGS-CIMB Securities Sdn. Bhd., the Board of Directors of the Company wishes to announce that there is no material development on the status of the MOU and both parties have been jointly working to develop the interface design of the stock trading platform as envisaged by the MOU as well as engaging the Securities Commission Malaysia on the requisite licensing application.

This announcement is dated 26 May 2022.