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：致股東通函有關A部分：（I）建議CAPITAL A BERHAD（「公司」）將其在亞航航空集團有限公司（「AAGL」）的100％股權出售給亞航X有限公司（「AAX」），出售對價30萬令吉將完全通過發行和發行2,307,692,307股AX新普通股（「對價股」）來支付每股1.30令吉（「擬議的AAAGL出售」）；（II）該公司提議將其在亞航有限公司（「AAB」）的100％股權出售給AAX，以作爲 RM380000 的出售對價萬將完全通過AAX假設公司欠AAB的3800萬令吉（「AaB擬議處置」）來完全滿足；以及（III）根據2016年《公司法》第116條（「擬議分配」），公司提議通過擬議減少和償還公司的已發行股本，向其權益股東分配1,692,307,692股對價股（統稱爲 「提案」）；B部分：公共投資銀行有限公司致非利益股東的獨立建議信與提案有關的公司