The Board of Directors of Samaiden announced that Samaiden Biomass Energy Sdn. Bhd. had on 30 January 2024 received the approval letter dated 24 January 2024 for Feed-in Tariff ("FiT") from the Government of Malaysia through SEDA to undertake the development of a 7.0 MW Biomass Power Plant in Tangkak, Johor Darul Takzim ("Project").

Samaiden Biomass had participated in a competitive e-bidding exercise for the Project and submitted its bid to SEDA on 26 July 2023 ("Bid"). SEDA has accepted Samaiden Biomass's Bid and selected Samaiden Biomass as the successful bidder. Name of Feed-In approval holder: Samaiden Biomass energy Sdn.

Bhd., Location of renewable energy installation: Kampung Tanjong Batu 15, 84900 Tangkak, JohorDarul Takzim., Renewable resource: Biomass, Installed capacity: 7.0 MW, Net export capacity: 6.0 MW, Scheduled FiT commencement date: 22 January 2027, Effective Period: 21 years from scheduled FiT commencement date, FiT rate: MYR 0.34 per kilowatt hour, Samaiden Biomass shall meet the following milestones by the following dates: Renewable, Energy, Power, Purchase, Agreement with SEDA and Energy Commission Public License (Provisional): 22 April 2024, Financing agreement(s):, 22 July 2024, First payment to Engineering, Procurement, Construction and Commissioning contractor: 22 October 2024, Initial operation date: 22 October 2026, Scheduled FiT commencement dates: 22 January 2027, Scheduled FiT commencement Date: 22 January 2027. ESTIMated TimeFRAME for completion. Barring any unforeseen circumstances, the Project is expected to be completed by 22 January 2027, which is the scheduled FiT commencement date, being the date whereby the Project is expected to sell the electricity generated to the power grid.