Reference is made to the announcement dated 11 May 2026 in relation to the receipt of approval from BNM for RHB Bank to commence negotiations with Tokio Marine Asia Pte. Ltd for the proposed disposal of up to 100% equity interests in RHB Insurance Berhad ("RHB Insurance"), and the proposed integration of Tokio Marine Insurans (Malaysia) Berhad and RHB Insurance into an enlarged integrated entity in which RHB Bank would hold up to 35% equity interest ("Proposal").

On behalf of the Board of Directors of RHB Bank, RHB Investment Bank Berhad wishes to announce that the parties have made meaningful progress in relation to the Proposal, including the ongoing due diligence reviews, and negotiations on the key commercial terms and transaction documentation.

To facilitate the continued progress of these discussions and the finalisation of the transaction terms and documentation, RHB Bank had on 16 October 2026 submitted an application to BNM for an extension of time to conclude negotiations in relation to the Proposal.

Further developments on the Proposal will be announced in due course.

This announcement is dated 16 October 2026.