(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcements dated 6 December 2019, 1 June 2023, 12 July 2024 and 10 March 2025 in relation to the Rights Issue with Warrants 2020, where applicable, unless stated otherwise or defined herein.)

The Board of Directors of Vsolar (Board) wishes to inform that as of 14 August 2025, the Company has yet to fully utilise the proceeds raised from the Rights Issue with Warrants 2020 and the Board requires additional time to utilise the balance proceeds amounting to RM25.548 million and RM4.218 million for the capital expenditure for development and construction of biomass/biogas plants and development of 30.05MWp Large Scale Solar Photovoltaic (PV) Energy Generating Facility respectively (Extension of Time).

The Board has resolved to extend the time frame for the utilisation of the said proceeds for another twelve (12) months period from 13 July 2025 to 12 July 2026 and six (6) months period from 10 September 2025 to 9 March 2026 (Revised Time Frame) to provide additional time for the Group to utilise the balance of proceeds for the purpose respectively.

The details of the Revised Time Frame are as follows:

The Revised Time Frame does not require the approval of any regulatory authorities or the shareholders of Vsolar.

The Board, having considered all aspects of the proposed Extension of Time, is of the opinion that it will not have material adverse effect on the financial performance of the Group and is in the best interest of the Group.

The Company shall continue to be vigilant and prudent in managing the remaining proceeds raised from the Rights Issue with Warrants 2020 and will continue to disclose the status of the utilisation in the Company's quarterly results and annual reports until it is fully utilised.

This announcement is dated 14 August 2025.