Reference is made to Paramount Corporation Berhad ("Paramount")'s announcement dated 30 June 2021. The Board of Directors of RCE Capital Berhad ("RCE") is pleased to confirm that RCE has joined a consortium led by Paramount which has submitted an application to Bank Negara Malaysia ("BNM") for a digital banking licence pursuant to the Licensing Framework for Digital Banks And Application Procedures For New Licences under the Financial Services Act 2013 issued by BNM (the "Application").

RCE will enter into a definitive agreement that sets out the obligations of the consortium partners in due course after the submission of the Application.

This announcement is dated 30 June 2021.