Amway Malaysia Berhad : 2022 Circular to Shareholders

THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.

If you are in any doubt as to the course of action to be taken, you should consult your stockbroker, bank manager, solicitor, THIIS CIIRCULAR IIS IIMPORTANT AND REQUIIRES YOUR IIMMEDIIATE ATTENTIION..

aIcfcyoouuntanret oirnoathnyerdporuobfetssaisontaol tahdevicsoeurrimsemoefdaiacteiolyn. to be taken, you should consult your stockbroker, bank manager, solicitor, TacHcoISunCtIaRntCoUrLoAthRerISprIoMfePssOioRnTaAl aNdTviAseNr DimRmEeQdiUatIeRlyE.S YOUR IMMEDIATE ATTENTION.

IIff yyoou aarree iin aanyy dooubtt aass ttoo tthee ccoourrssee ooff aaccttiioon ttoo bee ttaakeen,, yyoou sshooulld ccoonssulltt yyoourr ssttoocckbrrookeerr,, baank maanaaggeerr,, ssoolliicciittoorr,, Bursa Malaysia Securities Berhad has not perused this Circular before its issuance, takes no responsibility for the contents of this aaccccoounttaanttoorroottheerrprrooffeessssiioonaallaadvviisseerriimmeediiaatteellyy..

CIBfiurycrousaulaMra,ramelaaiynkseiasnnSyoecdruoerupitbrietesaeBnstetarothioathndeahcsaostuonrositetspoaefcrcaucsrteaidocnythotiors Ccboeimrctpaulkleaetrnen,beysfosouraenshidtoseuixlspdsruecaosnsnclyseu,dltiaskycoleasuirmnostaroencskypbolrinaosbkiibelritl,iytbywafnhokartstmoheaevnceaorgnfetorer,ntassonloyicfiltohosriss, haCociwcrocsuonleavtrae,nrmtaorariksoeinsthgneforoprmerpoofreresiseninortnaealtiliaoandcvaeisueptroinmitstmhaecdwciuahrtoaellcey.ororancyompaprlettoefntehsse caonndtenxtpsroefsstlhyisdCisicrlcauimlasr.any liability whatsoever for any loss Burrssaa Maallaayyssiiaa Seeccurriittiieess Beerrhaad haass noott peerrusseed tthiiss Ciirrccullaarr beeffoorree iittss iissssuaanccee,, ttaakeess noo rreesspoonssiibiilliittyy ffoorr tthee ccoontteenttss ooff tthiiss howsoever arising from or in reliance upon the whole or any part of the contents of this Circular.

Ciirrccullaarr,, maakeess noo rreeprreesseenttaattiioon aass ttoo iittss aaccccurraaccyy oorr ccoomplleetteeneessss aand eexxprreessssllyy diissccllaaiimss aanyy lliiaabiilliittyy whaattssooeevveerr ffoorr aanyy lloossss Bursa Malaysia Securities Berhad has not perused this Circular before its issuance, takes no responsibility for the contents of this hoowssooeevveerraarriissiinggffrroom oorriin rreelliiaancceeupoon ttheewhoolleeoorraanyypaarrttooffttheeccoontteenttssoofftthiissCiirrccullaarr..

Circular, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Circular.

AMWAY (MALAYSIA) HOLDINGS BERHAD

AMWAY(Re(gMistAratLionANYo.S1I9A950)1H01O115L3D(3I4N03G54-SU)B) ERHAD

AMWAY ((MALAYSIA)) HOLDINGS BERHAD

(Registra(tIinocnoNrpoo. r1a9t9ed50i1n0M11a1la5y3si(a3)40354-U))

AMWAY((Re(egMgiissttArratLtiioAnNYo.S.1I9A95)01H01O11L53D((3I4N03G54-S-U)B))) ERHAD

(Incorporated in Malaysia)

(Registration No. 199501011153 (340354-U))

((IInccorrporratteed iin Mallayyssiia))

CIRCULAR TO SHAREHOLDERS

(Incorporated in Malaysia)

CIRCULAR TO SHAREHOLDERS CIRCIUNLRAERLTAOTISOHNARTROEHTOHLEDERS CIRCIUNLRAERLTAOTISOHNARTOEHTOHLEDERS

PROPOSED RENEWAL OF SHARINENHROELDAETRIOSN'NMTAONTDHAETE FOR RECURRENT RELATED PROPOSEDPARRETNYEWTRAALNOSFASCHTAIORINESHROEFLDAETRRIEOSVN' EMTNAOUNTEDHOAERTETRFOADRIRNEGCNUARTRUERNET RELATED PROPOSEDPRAERNTEYWTARLANOSFASCHTAIRORENEHSOLFDAERES'V'MENAUNEDAOTRETFROARDRIRNEGCUNURARRTREUENRNTET RELATED PROPOSEDPARARERTNTYEYWTRARALANOSFASCHTAIORNESHS OFLFDAERRESV' EMENAUNEDOAORTRETRFROARDIRNEGCNUARTRUERNET RELATED

PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE

IN CONJUNCTION WITH THE SPECIAL BUSINESS

IN CONJUNCTION WITH THE SPECIAL BUSINESS

IN CAOTNTJHUENC2C7TTIHIOANNWNUITAHLTGHEENEESPRPEACLIAMALEBEBUTUISNINGNESS

AT THE 27TH ANNUAL GENERAL MEETING IN CONJUNCTION WITH THE SPECIAL BUSINESS

AT THE 27TH ANNUAL GENERAL MEETING

Adviser

AT THE 27TH ANNUAdLviGseEr NERAL MEETING

Adviiser

Adviser

The above proposal will be tabled as Special Business at our 27th Annual General Meeting ("AGM"). In view of the COVID-19 outbreak andaTshpeaartbovfeopurospaofseatyl wmilelabsuerteasb,lethdea2s7SpeAcGiaMl Bwusililnebses caot noduurc2t7ed Aenntniruealyl Gthernoeurgahl Mliveetisntrgea("mAinGgMfr"o)m. InthveiebwrooafdcthaestCvOenVuIeDa-1t 9VoauntbArenadkelan&d

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ThheeaabboovveepprrooppoossaallwiilllbbeettaabblleeddaassSppeecciiaallBuussiinneessssaattoouurr2277th AnnnnuuaallGeenneerraallMeeeettiinngg((""AGM"")).. IInnvviieew oofftthheeCOVIID--1199oouuttbbrreeaakkaanndd VDeenVuoes")TornainWinegdnCeesdnatrye,, 2A5mMwaayy2(0M22atlhthaty9si:a3)0 Sad.mn. uBshindg., t2h8e,RJaelmanot2e2P3a,rt4ic6i1p0a0tioPnetanlidngVoJatiynag, fSaeclialintigeosr("DRaPruVl "E)hpsraonv,idMedalabysTiari(c"oBr rInoavdesctaosrt aass ppaarrtt ooff oouurr ssaaffeettyy meeaassuurreess,, tthhee 2277th AGM wiilll bbee ccoonndduucctteedd eennttiirreellyy tthhrroouugghh lliivvee ssttrreeaamiinngg ffrroom tthhee bbrrooaaddccaasstt vveennuuee aatt Vaann Annddeell & The above proposal will be tabled as Special Business at our 27th Annual General Meeting ("AGM"). In view of the COVID-19 outbreak and &VeInssuuei"n)goHn oWuseednSeesrdvaiyce, s25SdMna.yB2h0d2.2vaiat 9it:s30TaII.Hm.OunsilningethweeRbseimteotaet Phattrptisc:i/p/taiithio.onnalinnde.VTohtiengBfraocaidlictaiesst (V"RenPuVe "i)s psrtorivcitdlyedfobrytThreicpourrIpnovsestoofr DeeVooss Trraaiinniinngg Ceennttrree,, Amwaayy ((Maallaayyssiiaa)) Sddnn.. Bhhdd..,, 2288,, JJaallaann 222233,, 4466110000 Peettaalliinngg JJaayyaa,, Seellaannggoorr Daarruull Ehhssaann,, Maallaayyssiiaa ((""Brrooaadccaasstt c&omIspsluying wHiotuhsSeeScetirovnic3es27S(d2n).oBf hthde. vCioAamGitpMsanTwiIeIisHllAObcent lc2ion0ne1d6wuacentbedsditsehnatriterehlotytlpdtseh:r/r/sotiuwihgih.lolnlnilvionetes.btreTehaemlloBinwrgoeadfdroctomasatthtVenebdnruotehaedisc2as7sttrivctelnyufeoratthVeanpuArpnodsel o&f Veenuee""))oonnWeeddnneessddaayy,,2255Maayy22002222aatt99::3300aa..m..uussiinnggtthheeReemootteePaarrttiicciippaattiioonnaannddVoottiinnggffaacciilliittiieess((""RPV""))pprroovviiddeeddbbyyTrriiccoorrIInnvveessttoorr BDreoVadocsaTstraVineinugeCoennttrhee, Adamywoafyt(hMe amlaeyestiian)g.SdFno.rBfhudrt.h,e2r8i,nJfaolramna2ti2o3n,,4p6l1ea0s0ePretfaelrintgo Jtahyea,NSoetliacnegofr Dthaeru2l7Ethhsant,h MAGalMaysiina p("eBrsroonaadtcathset complying with Section 327(2) of the Companies Act 2016 and shareholders will not be allowed to attend theA2G7M and Information for & IIssssuuiinngg Hoouussee Seerrvviicceess Sddnn.. Bhhdd.. vviiaa iittss TIIIH Onnlliinnee weebbssiittee aatt hhtttppss::///ttiiihh..oonnlliinnee.. Thhee Brrooaaddccaasstt Veennuuee iiss ssttrriiccttllyy ffoorr tthhee ppuurrppoossee ooff SVheanreuheo"l)doenrsWoned2n7ethsdAaGy,M2.5 May 2022 at 9:30 a.m. using the Remote Participation and Voting facilities ("RPV") pArGovMideadnbdyITnfroicromraItniovnestfor ccoomppllyyiinngg wiitthh Seeccttiioonn 332277((22)) ooff tthhee Coomppaanniieess Acctt 22001166 aanndd sshhaarreehhoollddeerrss wiilll noott bee aalllooweed ttoo aattteenndd tthhee 2277th AGM iinn ppeerrssoonn aatt tthhee & Issuing House Services Sdn. Bhd. via its TIIH Online website at https://tiih.online. The Broadcast Venue is strictly for the purpose of Brrooaaddccaasstt Veennuuee oonn tthhee ddaayy ooff tthhee meeeettiinngg.. Foorr ffuurrtthheerr iinnffoorrmaattiioonn,, pplleeaassee rreeffeerr ttoo tthhee Noottiiccee ooff tthhee 2277th AGM aanndd IInnffoorrmaattiioonn ffoorr TchoempNlyointigcewiothf Stehcetion 327(2) of the Companies Act 2016 and shareholders will not be allowed to attend athned 2c7anAGbeM dinowpnelrosoadneadt thate Shhaarreehhoollddeerrssoonn2277thAGM..

as part of our safety measures, the 27th

th AGM in person at the

Broadcast Venue on the day of the meeting. For further information, please refer to the Notice of the 27thShareholders on 27th AGM.

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27th AGM and the Proxy Form are set out in our 2021 Annual Report

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Thhee Noottiiccee ooff tthhee 2277th AGM aanndd tthhee Prrooxxyy Foorrm aarree sseett oouutt iinn oouurr 22002211 Annnnuuaall Reeppoorrtt aand ccaan bee downlloaadeed aatt The Proxy Form should be completed and returned in accordance with the instructions therein as soon as possibalnedandcasnhoubled rdeoawchnloouardSedharaetShthtaprse:/h/owlwdewrs.aomnw2a7yth.mAyG/Mab.out-amway/investor-relations/annual-reports-announcements.

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bLealsotwdatoeranadnytimadejfoourrnlomdgenintgtthheerePorfo.xyYFoourmalso have :the optionMtondlaoyd,g2e3tMheayp2ro0x2y2 aatp9p.3o0inatm.me.nt electronically via TIIH Online at

Dhtattpesa:/n/tdiihti.monelionfethbef2o7reththAeGPMroxy Form lodgement cut-:off time staWteeddbneelsodwa.y, 25 May 2022 at 9.30 a.m.

LaassttddaatteeaannddttiimeeffoorrllooddggiinnggtthheePrrooxxyyFoorrm Date and time of the 27th AGM

Last date and time for lodging the Proxy Form Daatteeaannddttiimeeoofftthhee2277tthhAGM

:: : : ::Moonnddaayy,,2233Maayy22002222aatt99..3300aa..m.. Wednesday, 25 May 2022 at 9.30 a.m.

Monday, 23 May 2022 at 9.30 a.m. Weeddnneessddaayy,,2255Maayy22002222aatt99..3300aa..m..

Date and time of the 27th AGM

This Circular is dated 22 April 2022 This Circular is dated 22 April 2022 ThiissCiirrcullarriissdatted 22 Aprriill2022 This Circular is dated 22 April 2022

:

Wednesday, 25 May 2022 at 9.30 a.m.

DEFINITIONS

Except where the context otherwise requires, the following words and abbreviations shall apply throughout this Circular and have the following meanings:

ABGIL

• : Access Business Group International LLC, a company incorporated in the USA, is 85%-owned by Alticor Distribution, 14%-owned by Alticor Corporate and 1%-owned by ABGL

  ABGIL Intellectual Property

• : Product formulae, manufacturing techniques, know-how, trade secrets and other confidential or proprietary information used or usable by ABGIL in the conduct of its business

  ABGL

• : Access Business Group LLC, a company incorporated in the USA and a wholly-owned subsidiary of Alticor Corporate

  Act

• : The Companies Act 2016, as amended from time to time and any re-enactment thereof

  Additional Product(s)

• : Any product including sales aids that is neither a Product nor a Substitute Product and that the AmwaySubs obtain by contract or otherwise. The category of suppliers includes, amongst others, those supplying home appliances, automotive lubricants and other related products, food and beverages, household products and other consumer related products

  AGH

• : Alticor Global Holdings Inc., a company incorporated in the USA

  AGM

• : Annual general meeting

  Alticor

• : Alticor Inc., a company incorporated in the USA and a wholly-owned subsidiary of SHI

  Alticor Corporate

• : Alticor Corporate Enterprises Inc., a company incorporated in the USA and a wholly-owned subsidiary of Alticor

  Alticor Distribution

• : Alticor Distribution LLC, a company incorporated in the USA and a wholly-owned subsidiary of Alticor

  Amway or Company

• : Amway (Malaysia) Holdings Berhad

  AmwaySubs

• : Wholly-owned subsidiaries of Amway, namely Amway (M) and Amway (B) and depending on the context, shall also mean either both or any one of them

  Amway Business Owners

• : Distributors of the AmwaySubs

  Amway International

• : Amway International Inc., a company incorporated in the USA and a wholly-owned subsidiary of Alticor

  Amway Nederland

• : Amway Nederland Ltd., a company incorporated in the USA and a wholly-owned subsidiary of Amway International

  Amway (B)

• : Amway (B) Sdn. Bhd., a company incorporated in Negara Brunei Darussalam and a wholly-owned subsidiary of Amway (M)

  Amway (M)

• : Amway (Malaysia) Sdn. Bhd., a company incorporated in Malaysia and a wholly-owned subsidiary of Amway

  Amway (S)

• : Amway (Singapore) Pte. Ltd., a company incorporated in the Republic of Singapore and a wholly-owned subsidiary of Amway International

- i - -i-

Amway (S) Product Supply Agreement

Audit Committee

• : The Product Supply Agreement dated 1 September 2003 entered into between Amway (M) and Amway (S) for three (3) years after that date and which is automatically renewed thereafter for successive one (1) year terms, subject to the required annual approval by our shareholders

• : Audit Committee of Amway

  Board

  Bursa Securities

• : Board of Directors of Amway

• : Bursa Malaysia Securities Berhad

  Circular

• : This circular to shareholders dated 22 April 2022 in relation to the Proposed Renewal of Shareholders' Mandate

  FYE

• : Financial year ended / financial year ending

  GDA

• : GDA B.V., a company incorporated in the Netherlands and a wholly-owned subsidiary of Amway Nederland

  ICT

• : Information and Communications Technology

  IT

• : Information Technology

  Licensing Agreements

• : The Trade Name and Trademark Licensing Agreements both dated 1 January 2002 entered into between Alticor and Amway (M); and Alticor and Amway (B) respectively, as amended by the respective First Amendment to Trade Name and Trademark Licensing Agreements both dated 25 February 2008. The Licensing Agreements are automatically renewed for successive one (1) year terms, subject to the renewal of the relevant Sublicensing Agreements and the required annual approval by our shareholders

  Listing Requirements

• : Main Market Listing Requirements of Bursa Securities, as amended from time to time

  LPD

• : 31 March 2022, being the latest practicable date prior to the issuance of this Circular

  Merchandising Agreement

• : The Merchandising Agreement dated 1 January 2020 entered into between ABGIL and Amway (M) for one (1) year commencing 1 January 2020 and shall, unless terminated, be automatically renewed thereafter for successive one (1) year terms

  Net Sales

• : The quantity of a product sold by the AmwaySubs multiplied by the AmwaySubs' then current published Amway Business Owners' cost for that product less the following:

  • (i) Sales tax;

  • (ii) Any surcharges assessed to the Amway Business Owners; and

  • (iii) Any returns or refunds which are accepted and credited by the AmwaySubs, whereby customers have requested for a refund as they are not satisfied with the products purchased

  PIVB

• : Public Investment Bank Berhad

  Product(s)

• : Product(s) that ABGIL could offer or sell to Amway (M) pursuant to the Product Supply Agreement, including sales aids and which Amway (M) could offer or sell to Amway (B)

- ii - - ii -

Product Supply Agreement

• : Product Supply Agreement dated 1 January 2002 entered into between ABGIL and Amway (M) as amended by the First Amendment to Product Supply Agreement dated 16 February 2011 and Second Amendment to Product Supply Agreement dated 1 January 2020. The Product Supply Agreement is automatically renewed for successive one (1) year terms, subject to the required annual approval by Amway (M), Amway and our shareholders

  Proposed Renewal of Shareholders' Mandate

• : Proposed renewal of shareholders' mandate for recurrent related party transactions of a revenue or trading nature, the details of which are set out in Section 2 of this Circular

  Recurrent Transaction(s)

• : Recurrent related party transactions of a revenue or trading nature which are necessary for the day-to-day operations entered into by us or any of the AmwaySubs with the Related Parties, which are the subject of the Proposed Renewal of Shareholders' Mandate

  Related Parties

• : Our directors, major shareholders and / or persons connected with them who are interested in the Recurrent Transactions as set out in Sections 2.3, 2.4 and 5 of this Circular

  RM and sen

• : Ringgit Malaysia and sen, respectively

  RRPT

• : Recurrent related party transactions of a revenue or trading nature

  Royalty FeesShare(s) or Our Share(s)

  :

  • (i) Six percent (6%) of the Net Sales of any Substitute Products or Additional Products incorporating or manufactured using any ABGIL Intellectual Property and which bear any of the sublicensed trademarks; or

  • (ii) Five percent (5%) of the Net Sales of any Substitute Products or Additional Products bearing any of the sublicensed trademarks, but which are not manufactured using any ABGIL Intellectual Property; or

  • (iii) One percent (1%) of the Net Sales of all Substitute Products and Additional Products that are sold by AmwaySubs under the "AMWAY" trade name through the Amway distribution channel, but which do not physically bear a sublicensed trademark on the product or product packaging and which are not manufactured using any ABGIL Intellectual Property;

  or such other amounts as the relevant parties may mutually agree, in writing, from time to time

• : Ordinary share(s) in Amway

  SHI

• : Solstice Holdings Inc., a company incorporated in the USA and a wholly-owned subsidiary of AGH

  Sublicensing Agreements

• : The Exclusive Distribution and Trademark Sublicensing Agreements both dated 1 January 2002 entered into between ABGIL and Amway (M); and ABGIL and Amway (B) respectively, as amended by the respective First Amendment to Exclusive Distribution and Trademark Sublicensing Agreements both dated 25 February 2008. The Sublicensing Agreements are automatically renewed for successive one (1) year terms subject to the renewal of the relevant Licensing Agreements and the required annual approval by our shareholders

- iii - - iii -

Substitute Product(s)

• : Any product including sales aids that is identical or substantially similar to a Product and which the AmwaySubs obtain by contract or otherwise

  USA

• : United States of America

  2021 Annual Report

• : Our annual report for the FYE 31 December 2021, including our audited consolidated financial statements and the notes to the financial statements, directors' report and auditors' report for that financial year

In this Circular, words referring to the singular shall, where applicable, include the plural and vice versa, and words referring to the masculine gender shall, where applicable, include the feminine and neuter genders and vice versa. Any reference to persons shall include a corporation, unless otherwise specified.

Any reference in this Circular to any legislation is a reference to that legislation as amended or re-enacted. Any reference to a time of a day in this Circular shall be a reference to Malaysian time, unless otherwise specified.

All references to "we", "us", "our", "ourselves", "our Company" or "Amway" in this Circular are to Amway (Malaysia) Holdings Berhad and references to "our Group" are to our Company and subsidiaries collectively.

All references to "you" or "your" in this Circular are to the shareholders of Amway who are entitled to attend and vote at the 27th AGM and whose names appear in our Record of Depositors at the time and on the date to be determined at a later date.

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