CAPITALA: CIRCULAR TO SHAREHOLDERS IN RELATION TO PART A: (I) PROPOSED DISPOSAL BY CAPITAL A BERHAD ("COMPANY") OF ITS 100% EQUITY INTEREST IN AIRASIA AVIATION GROUP LIMITED ("AAAGL") TO AIRASIA X BERHAD ("AAX") FOR A DISPOSAL CONSIDERATION OF RM3,000.0 MILLION TO BE SATISFIED ENTIRELY VIA THE ALLOTMENT AND ISSUANCE OF 2,307,692,307 NEW ORDINARY SHARES IN AAX ("CONSIDERATION SHARES") AT AN ISSUE PRICE OF RM1.30 EACH ("PROPOSED AAAGL DISPOSAL"); (II) PROPOSED DISPOSAL BY THE COMPANY OF ITS 100% EQUITY INTEREST IN AIRASIA BERHAD ("AAB") TO AAX FOR A DISPOSAL CONSIDERATION OF RM3,800.0 MILLION TO BE SATISFIED ENTIRELY VIA THE ASSUMPTION BY AAX OF AN AMOUNT OF RM3,800.0 MILLION OWING BY THE COMPANY TO AAB ("PROPOSED AAB DISPOSAL"); AND (III) PROPOSED DISTRIBUTION BY THE COMPANY OF 1,692,307,692 CONSIDERATION SHARES TO ITS ENTITLED SHAREHOLDERS BY WAY OF A PROPOSED REDUCTION AND REPAYMENT OF THE COMPANY'S ISSUED SHARE CAPITAL PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 ("PROPOSED DISTRIBUTION") (COLLECTIVELY, REFERRED TO AS THE "PROPOSALS"); PART B: INDEPENDENT ADVICE LETTER FROM PUBLIC INVESTMENT BANK BERHAD TO THE NON-INTERESTED SHAREHOLDERS OF THE COMPANY IN RELATION TO THE PROPOSALS

CAPITALA：致股东通函有关A部分：（I）建议CAPITAL A BERHAD（“公司”）将其在亚航航空集团有限公司（“AAGL”）的100％股权出售给亚航X有限公司（“AAX”），出售对价30万令吉将完全通过发行和发行2,307,692,307股AX新普通股（“对价股”）来支付每股1.30令吉（“拟议的AAAGL出售”）；（II）该公司提议将其在亚航有限公司（“AAB”）的100％股权出售给AAX，以作为 RM380000 的出售对价万将完全通过AAX假设公司欠AAB的3800万令吉（“AaB拟议处置”）来完全满足；以及（III）根据2016年《公司法》第116条（“拟议分配”），公司提议通过拟议减少和偿还公司的已发行股本，向其权益股东分配1,692,307,692股对价股（统称为 “提案”）；B部分：公共投资银行有限公司致非利益股东的独立建议信与提案有关的公司