The Board of Directors of Mudajaya is pleased to announce that Bera Hydropower Sdn Bhd (“BHSB”), a 76% owned indirect subsidiary of Mudajaya, has been selected as one of the successful bidders in a competitive Feed-in Tariff e-bidding small hydro tender exercise (“Project”) by the Government of Malaysia through Sustainable Energy Development Authority Malaysia (“SEDA”). BHSB has received the Feed-in Approval Certificate from SEDA on 30 December 2020.

BHSB will enter into a Renewable Energy Power Purchase Agreement with Tenaga Nasional Berhad for the Project located in Pahang, Malaysia at the installed capacity and tariff rate of 30 Megawatt and RM0.29 per kWh respectively for a period of 21 years.

The Project is not expected to have any material impact on the earnings and net assets of Mudajaya Group for the financial years ending 31 December 2020 and 31 December 2021 but it is expected to contribute positively to the Group’s future earnings.

None of the directors or major shareholders of Mudajaya or persons connected with them has any direct or indirect interest in the Project.

This announcement is dated 31 December 2020.