AirAsia X

(Unless otherwise stated, the definitions used herein shall have the same meanings as set out in AAX’s announcement dated 30 January 2015 (“Announcement”))

We refer to the Announcement and the announcements dated 13 February 2015, 27 February 2015, 4 March 2015, 5 March 2015, 27 March 2015 and 22 April 2015.

On behalf of the Board, CIMB wishes to announce that AAX has procured irrevocable and unconditional written undertakings from the Undertaking Shareholders to subscribe and/or procure the subscription in full of their respective entitlements under the Proposed Rights Issue with Warrants, representing an aggregate shareholding of 50.91% in AAX’s issued and paid-up share capital (“Undertakings”).

The table below sets out the details of the direct shareholdings of the Undertaking Shareholders as follows:

The Undertakings represent a commitment by the Undertaking Shareholders to subscribe for their full rights entitlement based on their current shareholdings in AAX or equivalent of up to RM201.09 million based on the Rights Issue Proceeds, subject to the final issue price of the Rights Shares on the Price-fixing Date to be determined and announced later.

Further, in order to ensure that the above subscription level is maintained, the Undertaking Shareholders have also irrevocably and unconditionally undertake to AAX not to dispose any part or all of their respective shareholding in AAX prior to the entitlement date for the Proposed Rights Issue with Warrants and shall maintain their respective shareholding in order to subscribe for their full entitlements of the Rights Shares pursuant to the Proposed Rights Issue with Warrants.

This announcement is dated 24 April 2015.