Further to the announcement made by Maxis on 30 August 2016, Maxis’ relevant wholly owned subsidiaries licensed under the Communications and Multimedia Act 1998 have, today on 31 October 2016 accepted the letters of offer from the MCMC for the spectrum assignments of 2 x 10MHz of 900MHz and 2 x 20MHz of 1800MHz (“Offers”) for a lump sum full settlement fee of RM816.75 million.

After thorough consideration of all factors including future cash flow projections and reinvestment opportunities, the Board of Maxis has decided to fund the fee mainly through external borrowings. The gearing level (net debt-to-EBITDA) will remain at approximately 2x.

The borrowings are not expected to have material impact on Maxis’ consolidated earnings, earnings per share and net assets.

This announcement is dated 31 October 2016.