We refer to the following articles published in The Edge and The Star dated 22 June 2021 and 23 June 2021 respectively on the Proposed Disposal:

1.  Article in The Edge entitled “Mulpha's unit to sell entire 37.81% stake in New Zealand's Education Perfect for RM1.31b”; and

2.  Article in The Star entitled “MCSB to sell stake in EPGL”.

The above articles reported that the Proposed Disposal represents the entire 37.81% stake of Mulpha Credit Sdn Bhd (“MCSB”) in Education Perfect Group Limited (“EPGL”) for NZ$455 million or approximately RM1.31 billion.

We wish to clarify that the consideration of NZ$455 million or approximately RM1.31 billion represents the total gross consideration for the sale of the 100% equity interest in EPGL.  The remaining 62.19% equity stake is held by the “Selling Shareholders”, as defined in our announcement dated 22 June 2021.

Based on MCSB’s 37.81% equity interest in EPGL, the consideration sum to be received by MCSB is expected to be NZ$162.85 million or approximately RM470.55 million, as stated in our announcement dated 22 June 2021.

This announcement is dated 23 June 2021.