Malakoff : Expands its Solar Portfolio through SPPA with DRB-HICOM

About this update from Malakoff Corporation Bhd

PRESS RELEASE FOR IMMEDIATE PUBLICATION Malakoff Expands its Solar Portfolio through SPPA with DRB-HICOM Kuala Lumpur, 1 November 2023 - Malakoff Corporation Berhad ("Malakoff"), in alignment with the government's National Energy Transition Roadmap ("NETR"), is accelerating its energy transition initiatives. To achieve this, Malakoff has inked a Solar Power Purchase Agreement ("SPPA") through its subsidiary Malakoff Radiance Sdn Bhd ("Malakoff Radiance") with the DRB-HICOM Group of Companies ("DRB-HICOM") namely Motosikal dan Enjin Nasional (MODENAS) Sdn Bhd, PMB Properties Sdn Bhd, ISUZU HICOM Malaysia Sdn Bhd, HICOM Automotive Manufactures (Malaysia) Sdn Bhd, CTRM Aero Composites Sdn Bhd, HICOM Teck See Manufacturing Malaysia Sdn Bhd, DRB-HICOM Berhad, DRB-HICOM Defense Technologies Sdn Bhd, Defence Services Sdn Bhd and PHN Industry Sdn Bhd for the development, operation and maintenance of solar photovoltaic systems at fourteen (14) locations in Selangor, Perak, Kedah, Melaka and Pahang. With a total capacity of 20.78 MWp and total electricity generation of 26,546.45 MWh per annum, this project is expected to play a pivotal role in making a substantial contribution to an annual reduction of 20,706 tCO2e equivalent to a carbon sequestration of 23,204.56 acres of forest, offsetting Co2 from the atmosphere. An exchange of documents containing the SPPA was held at the Saujana Hotel, Kuala Lumpur between Malakoff's Managing Director/Chief Executive Officer ("MD/CEO") Encik Anwar Syahrin Abdul Ajib and Motosikal dan Enjin Nasional (MODENAS) Sdn Bhd's General Manager Encik Yusmey Mohd Yusoff, PMB Properties Sdn Bhd's Group Chief People Officer Encik Raja Ahmad Hidzir Raja Muhamad, ISUZU HICOM Malaysia Sdn Bhd's Vice CEO Encik Nik Mohd Zaidi Nik Mohd Zain, HICOM Automotive Manufactures (Malaysia) Sdn Bhd's CEO Encik Ismail Pandak, CTRM Aero Composites Sdn Bhd's CEO Encik Shamsuddin Mohammed Yusof, HICOM Teck See Manufacturing Malaysia Sdn Bhd's CEO Mr. Lim Sheng Sun, DRB-HICOM Berhad's Head of Group Procurement Encik Khairul Azman Mohmad Razak, DRB-HICOM Defense Technologies Sdn Bhd and Defence Services Sdn Bhd's CEO Encik Mohammad Sharnaz Mohammad Shees and PHN Industry Sdn Bhd's Executive Director Tuan Haji Hamizan Osman. The exchange was witnessed by DRB-HICOM Berhad's Group Managing Director Yang Berbahagia ("YBhg.") Tan Sri Syed Faisal Albar and Malakoff's...

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