1. INTRODUCTION

Reference is made to the Company’s announcements dated 27 July 2023 and 27 October 2023 in relation to the memorandum of understanding dated 27 July 2023 signed between Citaglobal (for and on behalf of Citaglobal Energy Sdn Bhd, Citaglobal Genetec BESS Sdn Bhd and Citaglobal Powergen Sdn Bhd) and Masdar for a proposed strategic collaboration in the areas of joint development of renewable energy projects (“MOU”). Unless otherwise stated, all terms used herein shall have the same meaning as those defined in the abovementioned announcements.

Further to the MOU, the Board wishes to announce that on 1 December 2023, a 60:40 joint development framework agreement was executed between Masdar, the Company and TIZA Global Sdn Bhd (“TIZA Global”) (collectively, the “Parties” or “Consortium”) in relation to a proposed joint development of up to two (2) gigawatts (“GW”) of renewable energy consisting of a combination of ground mounted solar, floating solar and battery energy storage system (“BESS”) in the State of Pahang (“Project 2GW”) (“Joint Development Framework Agreement”) through several projects ("Projects", or individually, "Project"). 

Please refer to the attachment for the details of the announcement.

This announcement is dated 1 December 2023.