Unless otherwise defined, the definitions used in this announcement shall have the same meaning as those defined in the announcements made on 9 April 2024, 18 April 2024 and 24 April 2024 in relation to the Private Placement ("Announcements").

We refer to the Announcements in relation to the Private Placement.

On behalf of the Board, RHB Investment Bank wishes to announce that Bursa Securities had, vide its letter dated 2 May 2024, approved the listing of and quotation for up to 40,219,000 Placement Shares to be issued pursuant to the Private Placement.

The above approval granted by Bursa Securities is subject to the following conditions:

(1)        Solarvest and RHB Investment Bank must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Private Placement;

(2)        RHB Investment Bank to inform Bursa Securities upon the completion of the Private Placement;

(3)        RHB Investment Bank to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Private Placement is completed;

(4)        Where relevant, Solarvest / RHB Investment Bank to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders at the forthcoming annual general meeting for the authority to issue shares pursuant to Sections 75 and 76 of the Act before the listing and quotation of the ordinary shares;

(5)        RHB Investment Bank to furnish Bursa Securities with details of the placees as per Paragraph 6.15 of the Listing Requirements for Bursa Securities’ review, prior to the issuance/allotment of the Placement Shares; and

(6)        Solarvest to make quarterly updates via Bursa LINK (simultaneous with the submission of quarterly report) on the following:

(a)        The status on the event or purpose for which the total proceeds raised from the Private Placement are utilised for, i.e. the capital expenditure for commercial and industrial rooftop solar projects, capital expenditure for the secured CGPP projects and working capital requirements of the Solarvest Group;

(b)        Where relevant, details on where the balance of proceeds raised is being placed (pending utilisation). If it is parked with asset management company / fund manager, to disclose the name of the asset management company / fund manager; and

(c)        The summary of Placement Shares issued and allotted as follows:

(i)         Date of price fixing and issuance date of Placement Shares (each tranche);

(ii)        Quantity of Placement Shares issued and allotted;

(iii)        Issue price and basis in arriving at (each tranche); and

(iv)       Aggregate number of Placement Shares issued and allotted as at the end of each quarter.

This announcement is dated 2 May 2024.