(Unless otherwise stated, all abbreviations used herein shall have the same meaning as defined in the Company’s announcement dated 24 August 2018)

We refer to the Company’s announcements dated 24 August 2018, 18 September 2018, 24 September 2018, 25 September 2018, 26 September 2018, 16 October 2018 and 5 November 2018 in relation to the Proposals.

On behalf of the Board, Maybank IB wishes to announce that Bursa Securities had, vide its letter dated 5 November 2018, approved the following:

(i)   admission of up to 998,692,515 Warrants and 2,396,862,035 RCPS-i to the Official List of Bursa Securities;

(ii)  listing of the following on the Main Market of Bursa Securities:

      (a) up to 9,986,925,145 Rights Shares;

      (b) up to 998,692,515 Warrants;

      (c) up to 998,692,515 Exercised Shares;

      (d) up to 2,396,862,035 RCPS-i;

      (e) up to 2,396,862,035 Conversion Shares; and

      (f) such number of new SEB Shares to be issued pursuant to the Proposed ESOS, representing up to ten percent (10%) of the total issued SEB Shares (excluding treasury shares, if any) at any point in time.

The approval of Bursa Securities is subject to, among others, the following conditions:

(i)   SEB and Maybank IB must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities (“Listing Requirements”) at all times pertaining to the implementation of the Proposed Rights Issue of Shares with Warrants and Proposed Rights Issue of RCPS-i (“Proposed Rights Issue”) and Proposed ESOS;

(ii)  SEB and Maybank IB to inform Bursa Securities upon the completion of the Proposed Rights Issue;

(iii) SEB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Rights Issue is completed;

(iv)  SEB to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders at EGM for the Proposed Rights Issue;

(v)   Maybank IB is required to submit a confirmation to Bursa Securities of full compliance of the Proposed ESOS pursuant to Paragraph 6.43(1) of the Listing Requirements and stating the effective date of implementation together with a certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed ESOS; and

(vi)  SEB is required to furnish Bursa Securities on a quarterly basis a summary of the total number of new SEB Shares listed pursuant to the Proposed ESOS, Exercised Shares and Conversion Shares, respectively, as at the end of each quarter together with a detailed computation of listing fees payable.

This announcement is dated 5 November 2018.