CIRCULAR TO SHAREHOLDERS IN RELATION TO THE (I) PROPOSED PRIVATE PLACEMENT OF UP TO 738,555,000 NEW ORDINARY SHARES IN AIZO GROUP BERHAD ("AIZO" OR "COMPANY") ("AIZO SHARES" OR "SHARES") ("PLACEMENT SHARES"), REPRESENTING UP TO 30% OF THE TOTAL NUMBER OF ISSUED SHARES (EXCLUDING TREASURY SHARES, IF ANY) TO CERTAIN DIRECTORS AND MAJOR SHAREHOLDER OF OUR COMPANY AND INDEPENDENT THIRD-PARTY INVESTOR(S) AT AN ISSUE PRICE TO BE DETERMINED LATER ("PROPOSED PRIVATE PLACEMENT"); (II) PROPOSED ALLOCATION OF 100,000,000 PLACEMENT SHARES TO DATO ABANG ABDILLAH IZZARIM BIN TAN SRI DATUK PATINGGI ABANG HAJI ABDUL RAHMAN ZOHARI PURSUANT TO THE PROPOSED PRIVATE PLACEMENT ("PROPOSED ALLOCATION TO DATO ABANG ABDILLAH IZZARIM"); (III) PROPOSED ALLOCATION OF 15,000,000 PLACEMENT SHARES TO AHMAD RAHIZAL BIN DATO' AHMAD RASIDI PURSUANT TO THE PROPOSED PRIVATE PLACEMENT ("PROPOSED ALLOCATION TO AHMAD RAHIZAL"); (IV) PROPOSED ALLOCATION OF 15,000,000 PLACEMENT SHARES TO EMMA YAZMEEN YIP BINTI MOHD JEFFREY YIP PURSUANT TO THE PROPOSED PRIVATE PLACEMENT ("PROPOSED ALLOCATION TO EMMA YAZMEEN YIP"); (V) PROPOSED REDUCTION OF RM75,000,000 OF THE ISSUED SHARE CAPITAL OF AIZO PURSUANT TO SECTION 117 OF THE COMPANIES ACT 2016 ("PROPOSED SHARE CAPITAL REDUCTION"); AND (VI) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 3,200,408,274 NEW SHARES ("RIGHTS SHARES") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 1 EXISTING SHARE HELD ON AN ENTITLEMENT DATE AND AT AN ISSUE PRICE TO BE DETERMINED LATER, TOGETHER WITH UP TO 1,600,204,137 FREE DETACHABLE WARRANTS IN AIZO ("WARRANTS") ON THE BASIS OF 1 WARRANT FOR EVERY 2 RIGHTS SHARES SUBSCRIBED FOR ("PROPOSED RIGHTS ISSUE")