The Board of Directors (“the Board”) of Northern Solar Holdings Berhad ("Northern" or "Company") wishes to announce that Northern Solar Sdn. Bhd., a wholly-owned subsidiary of the Company had on 3 March 2026 accepted the following Letter of Award (“LOAs”) with a total value of RM119,385,006.75 from an onshore good supply contractor and onshore good service contractor (“Main Contractor”):   

1. Letter of Award in relation to Plot-B construction works with a contract price of RM47,525,006.75.
2. Letter of Award in relation to EPC for collector lines and SPP-IF with a contract price of RM71,860,000.00.

(collectively referred to as “the Award”)

Due to the confidential provision in the LOAs, the identity of the Main Contractor cannot be disclosed.  

The tenure for the execution of the Award has not been finalised and a further announcement will be made upon the execution of a formal subcontractor agreement.

The Board of Directors is of the view that the Award in the best interest of the Company and its subsidiaries (collectively referred to as "the Group") and is expected to contribute positively to the earnings and net assets per share of the Group for the financial years ending 31 March 2026 onwards.

The Board does not foresee any exceptional risks other than the normal operational risks and execution risks associated with the Award. Nevertheless, the Company will continue to exercise due care and take appropriate measures to mitigate the risks associated with the execution of the Award.

None of the Directors and/or major shareholders and persons connected with the Directors and/or major shareholder has any interest, direct or indirect, in the Award.

This announcement is dated 3 March 2026.