AIRASIA X BERHAD ("AIRASIA X" OR "THE COMPANY") CLARIFICATION ON NEWS ARTICLE FEATURED IN THE EDGE MALAYSIA, THE STAR AND THE NEW STRAITS TIMES ON 22 JANUARY 2026

AIRASIA X BERHAD ("AAX" OR THE "COMPANY") (I) PROPOSED ISSUANCE OF FREE WARRANTS; (II) PROPOSED PRIVATE PLACEMENT; (III) PROPOSED AAAGL ACQUISITION; (IV) PROPOSED AAB ACQUISITION; AND (V) PROPOSED SHARE CAPITAL REDUCTION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS") (VI) PROPOSED GRANTING OF SUBSCRIPTION OPTIONS