Sale of Treasury Shares and Total Voting Rights

Sale of Treasury Shares

and

Total Voting Rights

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia listed on the main market of the London Stock Exchange, is pleased to announce that it has today entered into an agreement to raise approximately $1.07 million (before expenses) by way of a private placement of 13,334,000 existing ordinary shares of US$0.05 each in the capital of the Company ("Ordinary Shares") currently held in treasury by the Company (the "Treasury Shares") at a price of US$0.08 per share (the "Placement").

The Treasury Shares have been acquired by a new investor and the Company anticipates receiving the funds from the Placement on or around 20 March 2025.

The Treasury Shares represent 5.52 per cent of the issued share capital of the Company and following completion of the Placement, the 13,334,000 Ordinary Shares will no longer be held in treasury by the Company.

It is intended for the net proceeds of the Placement to be utilised by the Company to address the financial challenges affecting its operations and in particular to repay certain outstanding bank facilities to forestall foreclosure actions initiated by the receivers and managers of ICSD Ventures Sdn. Bhd., the owner of the Sandakan asset, which is currently in receivership, as announced by Aseana on 6 November 2024.

Total Voting Rights

In compliance with the FCA's Disclosure Guidance and Transparency Rules (the "Rules"), following the sale of the Treasury Shares, the Company has an issued share capital of 241,377,496 Ordinary Shares of US$0.05 each with one vote per Ordinary Share, and 2 Management Shares of $0.05 each, with one vote per Management Share. The figure includes 33,552,501 Ordinary Shares which are yet to be admitted to trading.

Therefore, following completion of the sale of the Treasury Shares, the total number of voting rights in Aseana is 241,377,498 and this figure may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Rules.