The Board of Directors of Solarvest wishes to announce that Solarvest, had on 20 July 2022 entered into a Memorandum of Understanding (“MOU”) with NCT Land Sdn Bhd (“NCT”) for the purpose of jointly conducting development plans to support the decarbonization ambitions of both Parties within a selected region, reducing the industrial and commercial carbon footprint via development of 1000 units of solar ready factories and warehouses at Selangor Smart Industrial Park. The scope of the MOU includes the provision of decarbonization service to NCT's local facilities. The joint development plan between both Parties will produce options in potential areas for further collaboration, including but not limited to Renewable Energy such as Solar and Bioenergy, Hydrogen, Energy Efficiency, and Electric Mobility (“Purpose”).

Please refer to the attachment below for further details.

This announcement is dated 20 July 2022.