We are pleased to announce that the ALIBABA-H3 have expired at 5.00 p.m. on 02 June 2022 ("Expiry Date"). The Cash Settlement Amount shall be an amount in the Settlement Currency (if greater than zero), calculated as follows:

Cash Settlement Amount
= Number of Structured Warrants X (Exercise Price - Settlement Price) X (1/Exercise Ratio) X Settlement Exchange Rate
= Number of Structured Warrants X (HKD 120.0000 - HKD 91.5700) X (1/50.0000) X RM/HKD 0.5598
= Number of Structured Warrants X RM 0.3183

The Settlement Price has been determined at HKD 91.5700, being the average closing price of the ALIBABA Shares on The Stock Exchange of Hong Kong Limited for the five (5) HK Market Days prior to and including the HK Market Day immediately before the Expiry Date.

The Cash Settlement Amount, less all exercise expenses (currently borne by the Issuer and no charge shall be incurred by the Holder) shall be made by way of electronic payment or cheque within 7 Market Days from the Expiry Date. The cheques will be delivered to Holders by ordinary post.

Terms not defined in this announcement shall have the meanings given to them in the Term Sheet for the warrants and the Base Prospectus.

This announcement is dated 02 June 2022.