(Capitalised terms used herein, unless otherwise defined, shall have the meanings as described to them in the announcements dated 21 October 2025, 22 October 2025, 23 October 2025, 27 October 2025, 29 October 2025 and 7 November 2025 in relation to the Private Placement (“Private Placement Announcements”)

Further to the Private Placement Announcements, the Board of Directors of Solarvest wishes to announce that RM240,000 out of the gross proceeds of approximately RM257,488,000 raised from the Private Placement has been utilised, representing approximately 0.09% of the gross proceeds.

The status of the utilisation of proceeds raised from the Private Placement as of 24 February 2026 is as follows:-

* Actual excess proceeds raised were allocated to working capital requirements as disclosed in the Private Placement Announcement dated 21 October 2025.

# The projects included the solar photovoltaic projects in Kuala Langat, Selangor, Larut and Matang, Perak and Mukah, Sarawak.

The Private Placement was completed following the listing of and quotation for up to 84,700,000 placement shares on the Main Market of Bursa Malaysia Securities Berhad on 7 November 2025.

The proceeds have been partially utilised in accordance with the utilisation of proceeds as disclosed in the Private Placement Announcement.

This announcement is dated 24 February 2026.