VSOLAR GROUP BERHAD — Capital/Financing Update 2026

Mar 3, 2026

OTHERS VSOLAR GROUP BERHAD (VSOLAR OR THE COMPANY) EXTENSION OF TIME FOR THE UTILISATION OF PROCEEDS RAISED FROM RENOUNCEABLE RIGHTS ISSUE OF 1,232,492,289 NEW VSOLAR SHARES TOGETHER WITH 821,661,526 FREE DETACHABLE WARRANTS IN VSOLAR (RIGHTS ISSUE WITH WARRANTS 2020)

VSOLAR GROUP BERHAD

TypeAnnouncementSubjectOTHERS

Description

VSOLAR GROUP BERHAD (VSOLAR OR THE COMPANY)
EXTENSION OF TIME FOR THE UTILISATION OF PROCEEDS RAISED FROM RENOUNCEABLE RIGHTS ISSUE OF 1,232,492,289 NEW VSOLAR SHARES TOGETHER WITH 821,661,526 FREE DETACHABLE WARRANTS IN VSOLAR (RIGHTS ISSUE WITH WARRANTS 2020)

(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcements dated 6 December 2019, 1 June 2023, 12 July 2024, 10 March 2025 and 14 August 2025 in relation to the Rights Issue with Warrants 2020, where applicable, unless stated otherwise or defined herein.)

The Board of Directors of Vsolar (Board) wishes to inform that as of 4 March 2026, the Company has yet to fully utilise the proceeds raised from the Rights Issue with Warrants 2020 and the Board requires additional time to utilise the balance proceeds amounting to RM343,000.00 for the development of 30.05MWp Large Scale Solar Photovoltaic (PV) Energy Generating Facility (Extension of Time).

The Board has resolved to extend the time frame for the utilisation of the said proceeds for another twelve (12) months period from 10 March 2026 to 9 March 2027 (Revised Time Frame) to provide additional time for the Group to utilise the balance of proceeds for the purpose.

The details of the Revised Time Frame are as follows:

Purpose	Proposed Utilisation RM’000	Actual Utilisation RM’000	Unutilised Proceeds RM’000	Utilisation timeframe from the Receipt of Proceeds from the Date of Listing, i.e. 13 July 2020	Intended Time Frame for Utilisation	Proposed Revised Time Frame
Capital expenditure for development and construction of biomass/biogas plants	25,548	-	25,548	Within 72 months	12 July 2026	-
Working capital	2,040	-	2,040	Within 60 months from the completion of the construction of biomass/biogas plants	-	-
Development of 30.05MWp Large Scale Solar Photovoltaic (PV) Energy Generating Facility	8,537	(8,194)	343	Within 12 months from the variation	9 March 2026	9 March 2027
Estimated expenses for the Rights Issue with Warrants	850	(850)	-	Within 1 month	-	-
Total	36,975	(9,044)	27,931	-	-	-

The Revised Time Frame does not require the approval of any regulatory authorities or the shareholders of Vsolar.

The Board, having considered all aspects of the proposed Extension of Time, is of the opinion that it will not have material adverse effect on the financial performance of the Group and is in the best interest of the Group.

The Company shall continue to be vigilant and prudent in managing the remaining proceeds raised from the Rights Issue with Warrants 2020 and will continue to disclose the status of the utilisation in the Company’s quarterly results and annual reports until it is fully utilised.

This announcement is dated 4 March 2026.

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Announcement Info

Company Name	VSOLAR GROUP BERHAD
Stock Name	VSOLAR
Date Announced	04 Mar 2026
Category	General Announcement for PLC
Reference Number	GA1-02032026-00087