In order to implement the Group's 2025 globalization development strategy, ENERGROWTH TECHNOLOGY PTE. LTD. held management communication meeting recently, at which we had an in-depth discussion on the proposal of investing in Indonesia.

In terms of market potential, Indonesia is the largest economy in Southeast Asia, and its power infrastructure construction lags behind. The per capita installed capacity is less than 1/4 of that of China, so there is a large space for power market demand.

At the policy aspect, Indonesian government relaxed the localization requirements of electric power infrastructure in 2024. For projects with 50% of funds from foreign loans, they can apply for exemption of localization requirements, which reduces the operating costs of foreign enterprises' investment projects in Indonesia.

From the corporate aspect, the Group company has professional R&D, manufacturing and other capabilities in the power industry. Investing in Indonesia will help to further explore overseas markets and realize ENERGROWTH's strategic vision of "the world's leading integrated green energy service provider".

To sum up, ENERGROWTH participating management unanimously approve of the Indonesian investment project, and the company will further promote the implementation of the project.