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Founder Group Management Comments on Market Conditions in the U.S. for Solar Power Companies' Stocks

1. FGL operates in Malaysia, unaffected by U.S. solar tax credit changes. 2. CEO Lee Seng Chi reassures investors of stability despite U.S. market selloffs. 3. Revenue primarily from Malaysian market; U.S. expansion not planned. 4. Focus on regional development in Southeast Asia for future growth.

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FAQ

Why Bullish?

FGL's reassurances and focus on Malaysian operations may stabilize investor confidence, drawing parallels to its resilience during previous market fluctuations, such as the 2020 COVID-19 downturn when companies with less U.S. exposure fared better.

How important is it?

FGL's clarification on its operational independence from U.S. tax policies is highly relevant, especially as investor sentiment influences stock performance.

Why Long Term?

FGL's regional focus and consistent revenue generation from Malaysia indicate sustainable growth, reminiscent of solar firms that thrived post-2016 despite U.S. policy changes.

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SPWRCSIQENPH
June 20, 2025 08:30 ET  | Source: Founder Group Limited KUALA LUMPUR, Malaysia, June 20, 2025 (GLOBE NEWSWIRE) -- Founder Group Limited (NASDAQ: FGL) (“Founder Group” or the “Company”), a leading engineering, procurement, construction, and commissioning (EPCC) solutions provider for solar photovoltaic systems in Malaysia, assures investors that the Company will not be impacted by a U.S. Senate panel’s proposed wind down of solar power tax credits by 2028. “Founder Group operates primarily in Malaysia and doesn’t have operations in the U.S. Therefore, the Company should not be affected by the sentiments currently causing selloffs of U.S. solar power stocks,” said Lee Seng Chi, Chief Executive Officer of Founder Group Limited. “Although we are listed on Nasdaq and trade alongside U.S. solar power stocks, we will not be impacted by the possible elimination of those tax credits.” “Our revenue is predominantly generated from the Malaysian market hence we are not affected by the changes suggested by President Donald Trump’s tax cut and spending bill,” Mr. Lee continued. “In the near future, our expansion will focus on regional expansion in Southeast Asia only. Expansion to the U.S. is not in our current plans.” 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 Limitedinfo@founderenergy.com.my Investor Relations Inquiries: Skyline Corporate Communications Group, LLCScott Powell, President1177 Avenue of the Americas, 5th FloorNew York, New York 10036Office: (646) 893-5835Email: info@skylineccg.com

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