1. INTRODUCTION
The Board of Directors of Samaiden ("Board") is pleased to announce that Samaiden Sdn. Bhd. ("SSB"), a wholly-owned subsidiary of Samaiden, had on 2 October 2026 entered into a Works Contract and a Contract for Supply of Solar Components (collectively, the "Contracts") with Syarikat Pembenaan Yeoh Tiong Lay Sdn. Bhd. ("YTLSB") to undertake the engineering, construction and commissioning works and the procurement and supply of solar components in relation to the development of a 99.99 MWac Large Scale Solar Photovoltaic ("LSSPV") plant ("Project"). The Project is one of the LSSPV projects approved by Suruhanjaya Tenaga in September 2025 pursuant to the LSS5+ programme.
2. INFORMATION ON YTLSB
YTLSB is a private limited company incorporated in Malaysia and is principally engaged in construction. It has been appointed as the main contractor for the Project.
3. DETAILS OF THE CONTRACTS
(i) The scope of work includes the supply and delivery of materials, design, engineering, construction, testing and completion of the solar photovoltaic energy generating facility with the established capacity of 99.99 MWac ("Works").
(ii) The Works will be carried out under a Works Contract and a Contract for Supply of Solar Components with YTLSB. Due to confidentiality restrictions in the Contracts, the Contract Sum for the Works cannot be disclosed.
(iii) The commencement of the Works shall be upon the issuance of the Notice to Proceed in accordance with the terms of the Contracts.
4. RISK FACTORS
The Company does not expect any material risks arising from the Contracts, other than operational risks such as completion risk and shortage of skilled labour, for which the Company will implement appropriate mitigation measures.
5. FINANCIAL EFFECTS
Barring any unforeseen circumstances, the Contracts will not have any effect on the share capital and shareholdings structure of the Company. The Contracts are expected to contribute positively towards the future earnings of the Group during the duration of the Contracts.
6. INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND PERSONS CONNECTED TO THEM
None of the Directors and/or major shareholders of the Company and/or persons connected to them have any interest, whether direct and/or indirect, in the Contracts.
7. STATEMENT BY THE BOARD
The Board, having considered all aspects of the Contracts, is of the opinion that the Contracts are in the best interest of the Company.
8. APPROVALS REQUIRED
The Contracts are not subject to the approval of shareholders of the Company and/or any relevant regulatory authorities.
This announcement is dated 2 October 2026.