OCBC had said on 23 June 2025 that, regardless of the outcome of the Great Eastern Extraordinary General Meeting, it would be satisfied with its 93.72% economic interest in Great Eastern.

Singapore, 8 Jul 2025 – As GEH’s parent, OCBC has supported GEH’s proposal to resolve the 11-month trading suspension of its shares at today’s Extraordinary General Meeting by voting in favour of Resolutions B and C. As part of our undertaking to GEH, we will elect to receive Class C Non-Voting shares under GEH’s Bonus Issue.

The 10% free float requirement will be restored assuming all GEH minority shareholders receive the bonus ordinary shares.

OCBC announced at the launch of the voluntary general offer (VGO) on 10 May 2024 that we intended for the VGO to increase our investment in GEH beyond the 88.44% shareholding then. The objectives are to capture benefits from further operational synergies with GEH and a higher share of its value. These objectives have been met with the increase in OCBC’s investment in GEH to 93.72% in October 2024, successfully concluding the VGO. Therefore, OCBC had said on 23 June 2025 that, regardless of the outcome of the EGM, we would be satisfied with this level of economic interest. Class C Non-Voting shares are entitled to dividends and other distributions and will be earnings accretive to OCBC.

We also said we would not convert these newly-created Class C Non-Voting shares on and after the fifth anniversary of the issuance as it would result in GEH losing its free float again, and would not make further offers for GEH in the foreseeable future.

As OCBC’s insurance arm, GEH is pivotal to our ambition to be a leading wealth management player in the region. Over the years, as we increased our stake, we tightened integration and increased synergies with GEH. This has enabled us to deliver an even more comprehensive and innovative suite of investment, insurance, and estate planning solutions to customers. GEH has likewise benefited from expanded access to our retail and commercial customer base.

OCBC will continue to accelerate the synergistic work with GEH as we grow as one integrated financial services group.

Important Information on OCBC’s Conditional Exit Offer
Given that the Delisting Resolution was not approved at today’s EGM, the condition for OCBC’s Exit Offer has not been met. The Exit Offer has therefore lapsed.

Responsibility Statement
The directors of OCBC (including any director who may have delegated detailed supervision of the preparation of this media release) have taken all reasonable care to ensure that the facts stated and opinions expressed in this media release are fair and accurate and that there are no other material facts not contained in this media release, the omission of which would make any statement in this media release misleading, and they jointly and severally accept full responsibility.

Where any information has been extracted or reproduced from published or otherwise publicly available sources or obtained from GEH, the sole responsibility of the directors of OCBC has been to ensure through reasonable enquiries that such information is accurately and correctly extracted from such sources and/or reflected or reproduced in this media release in its proper form and context.