The board of directors of AEON Credit Service (M) Berhad (AEON Credit) announced that AEON Credit and AEON Financial Service Co., Ltd. (AFS) have submitted a joint application to Bank Negara Malaysia ("BNM") for a digital bank licence on 30 June 2021. The company and AFS (Each of the Company and AFS is referred to as a Party and collectively, as Parties) shall cooperate with each other by combining their expertise and resources to establish in Malaysia a joint venture company to engage in the business of a digital bank upon obtaining a licence (Proposed Joint Venture). Proposed Joint Venture ­ Capital and Shareholding Structure: Upon its incorporation, the FHC will have a total issued share capital of MYR 200 million consisting of 200 million ordinary shares, and the JVC will have a total issued share capital of MYR 200 million consisting of 200 million ordinary shares, subsequent to approval of issuance of banking licence to the digital bank.

By the end of the fifth year from the commencement of its operation, the digital bank is required to achieve a minimum amount of capital funds of 300 million unimpaired by losses. The shareholding structure of the Parties in the FHC, and accordingly, the JVC shall be as follows: AEON Credit:40%, AFS: 60%.