The Board of Directors of MHB wishes to announce that the Company has on 11 September 2023 entered into a Memorandum of Understanding with SPIC Energy Malaysia Berhad to explore potential collaboration in the development of ground mounted and floating solar photovoltaic project in Perak and to further explore the possibility of a collaborative effort on Engineering, Procurement, Construction and Commissioning Services. MHB and SPIC Energy shall hereinafter be collectively to as the "Parties" and individually referred to as "Party". The salient terms of the MoU are, among others, as follows: i. The Parties agree to enter into this MoU to explore cooperation, collaboration and working together in setting out the general principles and commercial parameters in relation to the Project which scope will include but is not limited to the following areas: Joint Responsibilities: (a) Cooperation and collaboration to set out the general principle and commercial parameters to pursue the Project which includes identifying and carrying out the preliminary works in the assessment of the viability, commercial or otherwise, of the projects and to evaluate.