Malayan Banking Berhad (“Maybank”) wishes to announce that Maybank has on 15 November 2016 (New York time) disposed 1,188,212 Class A common shares held in Visa Inc. (“Shares Disposal”), for a purchase consideration of USD93.9 million (equivalent to approximately RM407.1 million based on the exchange rate of USD1 = RM4.3335 as at 15 November 2016).

The Shares Disposal is carried out as part of Maybank’s strategy to be more capital efficient by rationalising our non-core assets. The proceeds from the Shares Disposal will be utilised for additional working capital purposes. Maybank’s existing business relationship with Visa Inc. will continue to be a priority and will not be affected as a result of the Shares Disposal.

Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. Visa Inc. was incorporated in the State of Delaware, United States of America in May 2007. Visa Inc. completed its initial public offering in March 2008.

The Shares Disposal is expected to have a positive material effect on the earnings and earnings per share of Maybank and its group of companies (“Maybank Group”) for the financial year ending 31 December 2016.

The Shares Disposal will not have any material effect on the issued and paid-up share capital and shareholdings of the substantial shareholders of Maybank, and it is not expected to have any material effect on the net assets per share and gearing of Maybank.

The Shares Disposal is not subjected to the approval of the shareholders of Maybank.

None of the directors and/or major shareholders of Maybank, and/or persons connected to them, have any interest, direct or indirect in the Shares Disposal.

The Board of Directors of Maybank is of the opinion that the Shares Disposal is in the best interest of Maybank.

The highest percentage ratio applicable to this transaction pursuant to Paragraph 10.02(g) of the Main Market Listing Requirements of the Exchange is 5.95% based on Maybank’s Audited Financial Statements for the Financial Year ended 31 December 2015.

This announcement is dated 16 November 2016.