Notices Of Additional Assessment Raised On Maxis Broadband Sdn Bhd ("MBSB"), A Wholly Owned Subsidiary Of Maxis Berhad ("MAXIS" or "THE COMPANY") By The Director General Of Inland Revenue ("DGIR")

Maxis wishes to announce that on 31 March 2021, MBSB was served with notices of additional assessment with penalties for years of assessment 2018 and 2019 totaling RM230 million (“2021 Notices”).

The 2021 Notices were raised mainly pursuant to the disallowance of MBSB’s deduction of interest expenses incurred during the said years of assessment and hence, similar in nature with the notices received in the past years.

Based on legal advice obtained, MBSB will initiate legal proceedings to challenge the basis and validity of the disputed 2021 Notices raised by the DGIR and the penalty imposed.

There will not be any imminent financial effects on the Maxis Group pending the outcome of the legal proceedings.

The Company will provide updates from time to time of any material development to this matter.

This announcement is dated 31 March 2021.

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