We refer to the Press Release made by Permodalan Nasional Berhad (“PNB”) in relation to “PNB Consolidates Sime Darby Berhad and UMW Holdings Berhad to Strengthen Domestic and Regional Automotive Sectors” today.

PNB has confirmed that PNB and AmanahRaya Trustees Berhad (as trustee for the unit trust funds listed in Section 2.1.1 of the attached announcement made by Sime Darby Berhad), had on 24 August 2023, entered into a conditional share purchase agreement with Sime Darby Enterprise Sdn Bhd (as the purchaser) and Sime Darby Holdings Berhad (as the warrantor) (“SPA”), to divest approximately 61.18% equity interest in UMW Holdings Berhad for a total cash consideration of RM3,574,065,500 in accordance with the terms and conditions of the SPA (“Proposed Transaction”), details are as enclosed.

Kindly also refer to the announcement made by Sime Darby earlier today, in relation to (i) Proposed Acquisition and (ii) Proposed Mandatory General Offer.

This announcement is dated 24 August 2023.