Founder Group Limited Secures US$4 million 25.4MW Utility-Scale Solar Contract under Malaysia's CGPP Programme

KUALA LUMPUR, Malaysia, March 09, 2026 (GLOBE NEWSWIRE) -- Founder Group Limited (NASDAQ:FGL) ("Founder Group" or the "Company"), a regional clean energy expert in Malaysia, today announced that it has been awarded an approximately RM16 million (US$4.14 million) Engineering, Procurement, Construction, and Commissioning (EPCC) contract for a 25.40MW large‑scale solar (LSS) project in Malaysia.

Strategic Importance of the Corporate Green Power Programme (CGPP) Award

The project is part of Malaysia's Corporate Green Power Programme ("CGPP"), a government‑backed initiative designed to accelerate corporate decarbonization through Virtual Power Purchase Agreements (VPPAs) and the deployment of new utility‑scale solar capacity nationwide.

Under the contract, Founder Group will undertake supply, civil and structural works, testing, commissioning and interconnection facility of the solar Photovoltaic (PV) facility. The project is expected to generate approximately 53,000 MWh of clean energy annually, offsetting around 35,000 tonnes of carbon dioxide emissions. It is also anticipated to contribute roughly 53,000 Renewable Energy Certificates ("RECs") to the market, supporting corporate consumers in meeting their sustainability commitments.

This award strengthens Founder Group's position in Malaysia's fast‑growing utility‑scale solar segment and enhances the Company's visibility into recurring, multi‑year revenue opportunities.

Strategic Outlook

Founder Group continues to pursue additional LSS5 and LSS5+ programmes, the Corporate Renewable Energy Sourcing Scheme (CRESS) and regional solar tenders. The Company views this contract as a meaningful milestone that reinforces its competitiveness and supports the expansion of its EPCC order book.

"This award reinforces Founder Group's growing role in Malaysia's energy transition and demonstrates our strong execution track record under the CGPP framework," said Lee Seng Chi, Chief Executive Officer of Founder Group Limited. "As Malaysia accelerates its utility‑scale solar rollout, Founder Group is well‑positioned to capture a larger share of upcoming tenders and expand our presence in high‑value EPCC projects. We expect this contract to contribute meaningfully to our order book and to support the development of recurring revenue streams as we continue to scale. We look forward to announcing additional project wins that further strengthen our market position and long-term growth trajectory."

About Founder Group Limited

Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities in Malaysia. The company's primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects. The company's mission is to provide customers with innovative solar installation services, promote eco-friendly resources and achieve carbon neutrality.

For more information on the Company, please visit https://www.founderenergy.com.my/.

Safe Harbor Statement

This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors, including those listed under "Risk Factors" in the Company's filings with the U.S. Securities and Exchange Commission, may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.

CONTACT INFORMATION:

For media queries, please contact:

Founder Group Limited

[email protected]

Investor Relations Inquiries:

Skyline Corporate Communications Group, LLC

Scott Powell, President

1177 Avenue of the Americas, 5th Floor

New York, New York 10036

Office: (646) 893-5835

Email: [email protected]