On behalf of the Board of Directors of Zecon ("Board"), M & A Securities Sdn Bhd ("M & A Securities") wishes to announce that the Company intends to undertake the following proposals:

(a) proposed sublease by Zecon Renewables (Sarawak) Sdn Bhd ("ZRSSB" or "Sublessee"), a wholly-owned subsidiary of Zecon, of a portion of land located in Salak Land District, Kuching Sarawak, measuring 122.18 hectares or 302 acres ("Block 14" or "Land"), within a plot of land presently held under Lot 471, Block 15 located in Salak Land District, Kuching, Sarawak ("Parent Lot 471"), from Zecon Solar Sdn Bhd ("ZSSB" or "Sublessor"), a 51.00%-owned subsidiary of Zecon, for a sublease term of thirty (30) years, commencing from the date which the Proposed Sublease (as defined herein) is registered with the Lands and Surveys Department Sarawak ("Lands and Surveys") ("Sublease Term"), for a total sublease consideration of RM54,360,000 pursuant to a conditional sublease agreement entered into between ZRSSB and ZSSB on 2 September 2026 ("Sublease Agreement") ("Sublease Consideration") ("Proposed Sublease"); and

(b) proposed establishment of a share option scheme ("ESOS") involving up to 15.00% of the total number of issued Shares of Zecon (excluding treasury shares, if any) at any point in time during the duration of the ESOS for eligible employees and Directors of Zecon and its subsidiaries ("Zecon Group" or "Group") ("Proposed ESOS").

(collectively referred to as the "Proposals").