Silverlake Axis Ltd. announced that the Group has secured contracts to deliver innovative and transformative digital innovation enhancement solutions to 30 of existing customers during the fourth quarter of financial year ended 30 June 2022. The contracts are signed with 5 large regional banking franchises in ASEAN, 6 local banks, 4 banks in Thailand, 4 banks in Indonesia, 2 banks in United Arab Emirates, a bank in Brunei, Sri Lanka, Vietnam and Europe respectively, a Singapore multinational finance and insurance corporation, a large retail chain in Asia, 2 partners from Thailand and a German manufacturer of biometric identification system. The contracts are primarily for enhancements to existing core banking system and to enhance customers' digital experience and are expected to be completed within 12 to 18 months from the signing of the contracts.

The Group's software solutions and services deployed for these contracts are from its subsidiaries, namely Silverlake Axis MSC Sdn Bhd, Silverlake Digitale Sdn Bhd, Silverlake One Paradigm Sdn Bhd, PT Structured Services, Silverlakegroup Pte Ltd, Silverlake Structured Services Sdn Bhd, Silverlake Structured Services Ltd, Silverlake Sistem Sdn Bhd, Silverlake Holdings Sdn Bhd, Silverlake Symmetri (Singapore) Pte Ltd, Silverlake Symmetri (Malaysia) Sdn Bhd, Cyber Village Sdn Bhd and SIA X Infotech. The contracts have an aggregate value of approximately Malaysian Ringgit 112million and are expected to contribute positively to the results of SAL in the current and following financial years. Pursuant to the confidentiality clause stipulated in the contracts, no further details of the contracts will be disclosed.

None of the directors or substantial shareholders of SAL has any interest, directly or indirectly, in the above contracts other than through their respective shareholdings in SAL.