The Board of Directors of Nestcon announced that its wholly-owned subsidiary, Nestcon Sustainable Solutions Sdn. Bhd. (“NSS”), had on 15 September 2021 entered into the Strategic Partnership Agreement (“Agreement”) with Hatten Commercial Management Sdn. Bhd. (“HCM”) in respect of the joint collaboration in pursuing the business opportunities in relation to the investment and development of solar photovoltaic plants and facilities in Malaysia (“Plans”). (NSS and HCM shall hereinafter be collectively referred to as “Parties” and individually as “Party”). The Agreement delineates the desirous and understanding between the Parties to jointly co-operate for the purposes of the Plans, as follows: (a) The Parties will set up a joint venture (“JV”) and/or consortium with other potential partners to jointly secure, supply, construct, develop and manage solar photovoltaic plants and facilities (“SPPFs”) in Malaysia. (b) The JV and/or consortium will install 6,373 solar panels on the roof of the Dataran Pahlawan Melaka Megamall to generate up to 3.19 MWp of solar-powered energy in Melaka. (c) The JV and/or consortium will also install solar panels and set up SPPFs at all properties owned or managed by HCM and HCM’s related corporations. (d) The Parties will jointly collaborate with other potential partners to utilise and/or secure the current and future land reserve for building large-scale solar photovoltaic facilities to generate up to 100 MWp by phases in Malaysia. 4.2 The Agreement sets out the general framework and intentions of the Parties for the Plans and for the facilitation of further definitive agreement(s) in the future. 4.3 The Parties’ detailed scope of collaboration and responsibilities shall be further defined in separate definitive agreement(s) to be discussed and mutually agreed between the Parties on a case-by-case basis for each of the Plans to be undertaken by the Parties. 4.4 The Agreement does not outline the contract value for the Plans. 4.5 The Agreement shall come into force from the date of Agreement and shall remain valid for a period of one (1) year or until the signing of definitive agreement(s) for the Plans or termination of the Agreement by the Parties. The term of the Agreement may be extended by an agreed written agreement from the Parties. 4.6 Either Party may terminate the Agreement by serving on the other Party a fourteen (14) days’ prior written notice and upon termination, the Parties shall have no further claims or obligations to each other pursuant to the Agreement.