4 July 2025

ASEANA PROPERTIES LIMITED
("Aseana" or the "Company")

Settlement of the Defaulted Silver Sparrow Bhd Medium Term Notes (the "SSB MTN")

Aseana (LSE: ASPL), a property developer in Malaysia listed on the main market of the London Stock Exchange, is pleased to announce that ICSD Ventures Sdn Bhd ("ICSD"), a wholly owned subsidiary of Aseana, has successfully drawn down 39.0 million Malaysian Ringgit ("RM") on the facility of RM45.2 million with AmBank (M) Berhad (the "AmBank Facility"), as announced by the Company on 24 June 2025.

The RM39.0 million draw down by ICSD has been utilised, together with certain existing cash resources of ICSD, to settle the remaining outstanding sum of the defaulted SSB MTN (principal, interest and other related costs) in full (totalling c.RM39.9 million).

Following the full settlement of the SSB MTN, the Board of Aseana expects that the receivers & managers (the "R&Ms") will be discharged by end of July 2025, thereby enabling the Company to regain full control of ICSD's assets and operations.

As announced on 24 June 2025, the AmBank Facility was secured at more favourable financing terms than the SSB MTN, including at a significantly lower interest rate (anticipated to be below 6% per annum) and up to 10 years of repayment period from the date of first drawdown (inclusive of 12 months grace period).

This is an important milestone achieved by the Company, led by the Board of Aseana. This reinforces the Company's strategic priorities outlined previously, including to critically raise funds and bank financing for safeguarding the ownership of its remaining assets to prevent the depreciation of value from distressed or forced disposals, and to enable Aseana to improve on its current financial position.

The Company will provide further details to shareholders updating on the discharge of the R&Ms at the appropriate time.

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