TAIPEI, TAIWAN - Media OutReach - 9 January 2023 - NEFIN Capital Taiwan Company Limited ("NEFIN Capital"), a subsidiary of NEFIN, renewable energy supplier in Asia Pacific, announces its cooperation with City Development Company Limited ("City Development") to venture into the solar energy market in Taiwan. City Development will assess, develop and acquire solar power plants for NEFIN, and be the largest developer and development investment consultant for NEFIN in Taiwan.

Mr Glenn Lim, Director of NEFIN Capital, shared that NEFIN is a premium green independent power producer funded by AC Energy Corporation ("ACEN") in the Philippines. It operates and holds over 3,800MW of utility-scale, commercial and industrial renewable energy systems across the world. NEFIN has continuously invested in Taiwan and works with local partners which possess long-standing performance and experience to develop and accomplish the market's sustainability and green energy vision, as well as to work with local community to create a long-term and positive environment for domestic economy and society growth.

Mr Lim emphasized that NEFIN not only develops and builds its own solar power plants in Taiwan but it also actively looks for suitable projects for acquisition. NEFIN is positive about the cooperation with City Development as the collaboration provides an opportunity to integrate the expertise that the NEFIN and its partner possess in the areas of site evaluation analysis, technology integration, design and engineering construction, and solar power financing solution. This will speed up the supply of reasonably priced green electricity to Taiwanese enterprises and consumers, achievement of carbon neutrality, and assist Taiwanese government with implementation of its renewable energy policy and planning of green economy.

City Development Managing Director Mr Passion Yang mentioned that the concept of sustainable urban development has prevailed around the world and green energy development is an important part of it. With a clear principle of building local partnership, City Development earns trust from local landlords through its good reputation. Over the years it has consolidated close to 400 hectares of lands in Pingtung and Kaohsiung for energy companies owned by renowned enterprises including PJ Asset Management Group, AUO Group, Union Group, Lealea Group, and has facilitated the construction of 60 ground-mounted and water-based solar power plants. The Company is not only an important driver of Pingtung Solar Power Zone, but also the largest ground- mounted solar power developer in southern Taiwan.

Mr Yang also shared his high expectation on the collaboration with NEFIN in Taiwan, which will jointly respond to government policy and encourage general public to embrace green energy. The two organizations can synergize their expertise to promote the conversion of wasteland into green gold, creating wins for industry, government and community, and build green energy vision for Taiwan.

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The issuer is solely responsible for the content of this announcement.

About NEFIN

NEFIN is a premium green independent power producer (IPP) offering bespoke carbon neutral technologies & financing solutions in Asia Pacific. NEFIN, funded by ACEN Corp., has collectively installed over 3,400 MW of utility-scale, commercial and industrial renewable energy systems. ACEN is listed in the Philippines (PSE: ACEN) and is part of the Ayala Corporation, one of the largest conglomerates in the Philippines, founded by the Ayala family in 1834. With its regional and multidisciplinary team, NEFIN offers comprehensive assessments and a full-suite of services to evaluate the ESG impact and commercial viability of projects, utilizing innovative approaches to technology under its unified energy management platform.

With a mission of "Achieving Carbon Neutrality for You", NEFIN is committed to the global climate goals and aims to accelerate the decarbonization of our client portfolios. NEFIN believes the future of the world is everyone's responsibility and strives to redefine energy boundaries towards a sustainable future. Please refer to NEFIN's website www.nefinco.com for more information and follow us at https://www.linkedin.com/company/nefin/.

About City Development Company Limited

Established in 2010, City Development Company Limited began its business with large scale land development such as urban regeneration, land rezoning and land consolidation, as well as sales of large-scale commercial offices and buildings. The Company has made significant achievement since branching into solar power plant business in 2016. It is now focused on the development of Pingtung Solar Power Zone where its scale has already reached over 400 hectares of land to date. For more information, please visit https://www.city-development.com.tw/index.html