We refer to the announcement dated 18 January 2017 and the circular to shareholders in relation to the Proposed Disposal dated 6 March 2017 (“Circular”). Unless otherwise stated, words and expressions used in this announcement shall have the same meaning as those attributed to them in the Circular.

On behalf of the Board of Directors of SHB, Affin Hwang Investment Bank Berhad and Astramina Advisory Sdn Bhd wish to announce that PNB, vide its letter dated 13 March 2017, informed the Company that PNB has received the acceptances from Sukuk Holders holding more than 50% of the nominal value of the MTSB Sukuk Mudharabah following the conditional offer by PNB to acquire the MTSB Sukuk Mudharabah from each Sukuk Holder.

In addition, the Sukuk Holders had, at the Extraordinary General Meeting of Sukuk Holders in respect of the MTSB Sukuk Mudharabah held today, approved the resolutions in relation to:

(1) the sale and transfer to the Purchaser of the Shares upon the terms and subject to the conditions of the SPA;

(2) all the necessary amendments to be made to the documents in connection with the MTSB Sukuk Mudharabah to allow the MTSB Sukuk Mudharabah to be offered for sale, sold and transferred from the present Sukuk Holders to other person or persons; and

(3) the unconditional release of SHB’s obligations under the limited corporate guarantee executed between SHB (as guarantor of the MTSB Sukuk Mudharabah) and the security agent of the MTSB Sukuk Mudharabah dated 18 December 2008.

Accordingly, both the Condition Precedents above have been fulfilled.

This announcement is dated 14 March 2017.