Leader Energy Inks MOU with BASF to Develop Long Duration Energy Storage Projects

Leader Energy Holding Berhad (“Leader Energy”), via its wholly- owned subsidiary Leader Energy Ventures Sdn Bhd, has today signed a Memorandum of Understanding (“MOU”) with BASF Stationary Energy Storage GmbH (“BSES”). BSES, a wholly-owned subsidiary of German chemical company BASF SE, is an exclusive global distributor of sodium-sulphur batteries (“NAS® Batteries”) produced by NGK Insulators, Ltd., Japan. Leader Energy together with its subsidiaries and jointly controlled entities is an independent power producer principally involved in the development, ownership, operations and maintenance of power assets and projects. Under the MOU, Leader Energy and BSES intend to establish a strategic partnership to promote the