Reference is made to the Company’s announcements made on 18 February 2020, 22 February 2021, 20 January 2022 and 20 July 2022.

The Board of Directors of Solarvest wishes to update the status of the following Memorandum of Understanding (“MOU”):-

1. MOU dated 18 February 2020 between Advancecon Solar Sdn. Bhd. and Solarvest Energy Sdn. Bhd., a wholly-owned subsidiary of Solarvest

- There is no new development on the status of the MOU since the previous announcement made on 29 August 2022.

2. MOU dated 22 February 2021 between Solarvest and Hong Leong Bank Berhad

- There is no new development on the status of the MOU since the previous announcement made on 29 August 2022.

3. MOU dated 20 January 2022 between Solarvest, Anora Agency Sdn. Bhd. and QBE Insurance (Malaysia) Berhad

- There is no new development on the status of the MOU since the previous announcement made on 29 August 2022.

4. MOU dated 20 July 2022 between Solarvest and NCT Land Sdn Bhd

- There is no new development on the status of the MOU since the previous announcement made on 29 August 2022.

This announcement is dated 29 November 2022.