The Board of Directors of Cypark Resources Berhad ("the Company" or "CRB") wishes to announce that Cypark Renewable Energy Sdn. Bhd. ("CRE"), a wholly-owned subsidiary of the Company had on 17 June 2021 accepted a Letter of Award dated 11 June 2021 from the International Islamic University Malaysia (“IIUM”) to design, engineer, procure, construct, commission (“EPCC”) and then operate and maintain the solar photovoltaic system (“the Project”) for IIUM, which is under Net Energy Metering Scheme 3.0.

In consideration for the works performed by CRE, IIUM agrees to receive and purchase the Net Electrical Output at a pre-agreed rate for a period of 21 years. This will be the largest solar photovoltaic system ever built for an educational institution in Malaysia at 6.25MWp, paired with innovative technology whereby the solar panels are not only built on rooftops but also on carpark and pedestrian walkway.

The stipulated completion date of the Project is on 17 June 2023, which is 24 months from the date of acceptance of the Letter of Award. The Project is expected to contribute positively to the earnings and net assets of the Group.

None of the Directors or Major Shareholders of CRB and persons connected with them has any interest, direct or indirect, in the Project.

This announcement is dated 28 June 2021.