25 May 2023
CIRCULAR TO SHAREHOLDERS IN RELATION TO THE (I) PROPOSED DIVERSIFICATION OF THE EXISTING BUSINESS ACTIVITIES OF RESERVOIR LINK ENERGY BHD ("RLEB" OR THE "COMPANY") AND ITS SUBSIDIARIES TO INCLUDE THE PROVISION OF WASTEWATER TREATMENT SERVICES, AS WELL AS THE ENGINEERING, PROCUREMENT, CONSTRUCTION AND COMMISSIONING OF WASTEWATER TREATMENT PLANT AND RELATED INFRASTRUCTURE ("PROPOSED DIVERSIFICATION"); (II) PROPOSED PRIVATE PLACEMENT OF UP TO 86,713,500 NEW ORDINARY SHARES IN RLEB ("RLEB SHARES" OR "SHARES") REPRESENTING NOT MORE THAN 30% OF THE TOTAL NUMBER OF ISSUED SHARES OF THE COMPANY (EXCLUDING TREASURY SHARES) TO INDEPENDENT THIRD-PARTY INVESTORS TO BE IDENTIFIED LATER AND AT AN ISSUE PRICE TO BE DETERMINED LATER ("PROPOSED PRIVATE PLACEMENT"); AND (III) PROPOSED WAIVER FROM THE SHAREHOLDERS OF RLEB TO WAIVE THEIR PRE-EMPTIVE RIGHTS UNDER THE SECTION 85 OF THE COMPANIES ACT 2016 (COLLECTIVELY, REFERRED AS THE "PROPOSALS")