AirAsia Group Berhad (“AAGB” or the “Company”) wishes to announce that the Board of Directors (“Board”) has formed a Non-Executive Independent Board Committee (“Committee”) comprising the Non-Executive members of the Board.

AAGB was mentioned in the Approved Judgment and the Statement of Facts in relation to Regina v Airbus SE, dated 31 January 2020 and available in the public domain. The Committee’s main objective will be to review the allegations therein so far as it concerns AAGB, and to take any necessary action based on the review.

AAGB’s Executive Chairman, Datuk Kamarudin bin Meranun, and Chief Executive Officer (“CEO”), Tan Sri Anthony Francis Fernandes, have notified the Committee that they will relinquish their executive positions within the Group, effective immediately, for a period of two (2) months or such other period that the Company may deem fit. The Committee has decided that in view of the current difficult economic circumstances facing the airline industry, to retain them as advisors to the Company during this two (2) month period. As advisors, they will not have executive authority within the Group.

On the recommendation of the Committee, Mr. Tharumalingam a/l Kanagalingam has been appointed as the acting CEO of AAGB in the interim.

Datuk Kamarudin bin Meranun and Tan Sri Anthony Francis Fernandes would be redesignated as the Non-Independent Non-Executive Board Members of AAGB.

All matters in relation to this review will be managed and handled by the Committee.

This announcement is dated 3 February 2020.