Warrants RE Assets Sdn Bhd (“WREA”), a company in which Federal International Holdings Berhad (“FIHB”) has 50% equity, had on 2 November 2021 signed a Memorandum of Understanding (“MOU”) with Fabulous Sunview Sdn Bhd (“Sunview”), for business collaboration in the Renewable Energy Projects development in Malaysia ("RE Projects"). The MOU signed between WREA and Sunview shall remain valid as of the date of signing of the MOU until superseded by the execution of another subsequent document. The MOU is not a legally binding agreement between the parties involved.

Sunview, a company incorporated in Malaysia, is principally involved in providing engineering, procurement, construction and commissioning for Renewable Energy ("RE”) power generating facilities for the production, transmission, distribution, and sale of electricity harnessed from green technology in Malaysia.

Under the terms of the MOU, WREA will identify and acquire in part or in whole, operating Feed-In Tariff ("FiT"), Net Energy Metering ("NEM") and/or Large Scale Solar ("LSS") solar plants, and/or other operating RE plants in Malaysia. Upon acquiring and owning these FiT, NEM and/or LSS solar plants, and/or other RE plants, WREA shall exclusively engage Sunview as the main contractor to carry out repairing and upgrading works for all of these plants. WREA shall also exclusively engage Sunview for the centralised management and operations of these plants and where WREA undertakes investment in a new RE project, WREA shall exclusively engage Sunview as the contractor for such RE project. In addition, WREA and Sunview shall also collaborate on and carry out RE Projects together as contractors.