Unless otherwise stated, all abbreviations and definitions used herein shall have the same meanings as those stated in the circular to shareholders dated 16 January 2024 in relation to the Corporate Exercises (“Circular”).

On behalf of the Board, M&A Securities wishes to announce that the Board intends to fix the issue price of the Rights Shares at RM0.0875 per Rights Share (“Issue Price”) and the exercise price of Warrants at RM0.1400 per Warrant (“Exercise Price”).

The Issue Price was determined by the Board after taking into consideration, amongst others, the following:

1. the funding requirements of the Group as set out in section 2.4.6 of the Circular;

2. discount of 49.86% to the TEAP of TXB Shares of RM0.1745, based on the Theoretical Adjusted 5D-VWAMP of TXB Shares of RM0.2960 per TXB Share (computed based on the 5D-VWAMP of TXB Shares up to and including 12 April 2024 of RM0.0148 adjusted for the effect of the consolidation of 20 existing Shares into 1 Share); and

3. the rationale for the Rights Issue with Warrants as set out in section 4 of the Circular.

The Exercise Price was determined by the Board after taking into consideration, amongst others, the following:

1. discount of 19.77% to the TEAP of TXB Shares of RM0.1745, based on the Theoretical Adjusted 5D-VWAMP of TXB Shares of RM0.2960 per TXB Share (computed based on the 5D-VWAMP of TXB Shares up to and including 12 April 2024 of RM0.0148 adjusted for the effect of the consolidation of 20 existing Shares into 1 Share);

2. the prevailing market conditions and the historical trading prices of TXB Shares;

3. the Board’s intention to enhance the attractiveness of the Warrants which may act as a sweetener for the subscription of the Rights Shares; and

4.the Board’s intention to enhance the attractiveness of the Exercise Price to encourage the exercise of the Warrants which will provide TXB with additional capital for the future growth of the Company taking into consideration of the Prospects of TXB Group as stipulated under section 5.6 of the Circular.

Premised on the above, the Board is of the view that the Issue Price of the Rights Shares and the Exercise Price of the Warrants are fair.

This announcement is dated 15 April 2024.