Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the circular to unitholders of Al-'Aqar dated 21 November 2022 in relation to, among others, the Private Placement.

We refer to the announcements dated 2 September 2022, 7 September 2022, 20 October 2022 and 16 November 2022 and the circular to unitholders dated 21 November 2022 in relation to, among others the Private Placement.

On behalf of the Board, KAF IB wishes to announce that following the bookbuilding exercise, the placement issue price has been fixed at RM1.20 per new unit to be issued pursuant to the Private Placement (“Issue Price”).

The Issue Price represents a discount of approximately:

1. 9.5% to the 5-day volume weighted average price of Al-‘Aqar Units up to and including 3 April 2023 of RM1.3254; and
2. 8.4% to the adjusted closing price of Al-‘Aqar Units on 3 April 2023 of RM1.31 after taking into account the last closing price of RM1.33 less the income distribution of RM0.02 per Al-‘Aqar Unit.

KAF IB, CIMB IB and Kenanga IB acted as the joint placement agents for the Private Placement.

This announcement is dated 4 April 2023.