Airasia X Berhad : "AAX" Or The "Company") Proposed Share Capital Reduction

(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcements dated 6 October 2020 and 14 December 2020, where applicable, unless stated otherwise or defined herein.)

On behalf of the Board of Directors of AAX, Mercury Securities wishes to announce that the Company had on 17 December 2021 filed an application to obtain the confirmation by the High Court of Malaya for the Proposed Share Capital Reduction pursuant to Section 116 of the Companies Act, 2016.

This announcement is dated 17 December 2021.