The Board of Directors of Samaiden Group Berhad announced that Samaiden Energy (Cambodia) Co. Ltd., had signed a Memorandum of Understanding ("MoU") with Royal Group Co. Ltd. ("RGC"), Management Venture Asia (Cambodia) Ltd. ("MVA") and Panna Energy Sdn.

Bhd. ("PANNA") to develop land alongside railway tracks operated by Royal Railway PLC ("Royal Railway") for renewable energy ("RE") and other sustainable economic activities. Under the MoU, the parties will first study the feasibility of developing unutilised land alongside railway tracks from Poipet province to Preah Sihanouk province for micro ground mount solar installations, utilities, facility infrastructure for rental, paper tree planting, greenhouse farming of vegetables, soybean farming and other sustainable economic activities.

The salient terms of the MOU are as follows: The objective of the MOU is to develop projects on unutilised land of the Royal Railway Concession involving activities including renewables energy development, sustainable economic developments as well as other potential programs that may be agreed upon between the parties. Samaiden Cambodia's main role is to provide technology expertise for the Project. RGC is to provide the available land as a lessor through its subsidiary Royal Railway PLC, to offer funding in full or part of the Project, and assistance to Samaiden Cambodia, MVA and PANNA in accessing the site.

MVA's key function is to provide business consultancy and support for the Project. PANNA will be responsible for the financial and commercial assistance for the undertaking of research, facilitation of project development and ongoing management of the Project. The MOU is effective from 28 April 2023 and will remain in force for a period of 5 years.

The MOU will automatically be extended when the development program is taking place. Either party may terminate the MOU by giving 30 days' notice in writing. The MOU would allow Samaiden to expand its clean energy related businesses regionally particularly in Cambodia which is one of the objectives outlined in Samaiden's five years' plan.

The MOU is not subject to the approval of the shareholders of the Company or any relevant authorities.