On behalf of the board of directors of MBL (“Board”), Malacca Securities Sdn. Bhd. (“Malacca Securities”) wishes to announce that the Company proposes to undertake a bonus issue of 113,767,950 warrants (“Warrant(s)-B”) on the basis of 1 Warrant B for every 2 existing ordinary shares in the MBL (“MBL Share(s)” or the “Share(s)”) held by the shareholders whose names appear in the Record of Depositors of the Company on an entitlement date to be determined later (“Entitlement Date”) (“Entitled Shareholder(s)”) (“Proposed Bonus Issue of Warrants-B” or the “Proposal”).

Please refer to the attachment for further details.

This announcement is dated 20 January 2023.