FDB HOLDINGS (01826) subsidiary enters into EPC agreement in Kazakhstan, with a total amount of approximately US$11.8 million.

FDB HOLDINGS (01826) announces that on 13 October 2026, Dalan Stroy Service LLP (Dalan), an indirect wholly-owned subsidiary of the Company incorporated under the laws of Kazakhstan, as the main contractor, entered into an engineering, procurement and construction agreement (the EPC Agreement) with HuaLin Energy Ltd. (whose ultimate beneficial owner is an independent third party) as the employer (the Employer). The EPC Agreement relates to the construction of a 4.5 MW natural gas power generation facility in Atyrau, Kazakhstan (the EPC Project). The Group expects to leverage its existing EPC capabilities and experience to deliver its first EPC project in Kazakhstan. The estimated total amount involved in the EPC Project is approximately US$11.8 million, of which approximately US$6 million is the fixed lump-sum contract price (tax inclusive) payable to Dalan for the EPC works. The balance relates to imported equipment and materials supplied by the Employer (the Equipment and Materials), for which Dalan will, on behalf of the Employer, arrange payment, logistics, customs clearance, receipt of goods, installation and system integration (which will be reimbursed on an actual cost basis). The construction site is located in Atyrau, Kazakhstan, and the construction content is a 4.5 MW natural gas power generation facility. Upon completion, the facility is expected to provide stable and reliable clean electricity to the Atyrau region. Pursuant to the EPC Agreement, Dalan is required to provide a performance guarantee in an amount equal to 30% of the sum of the fixed contract price and the provisional amount for the Equipment and Materials, with an initial amount of approximately US$3.55 million. The Board considers that applying the net proceeds raised from the rights issue to the EPC Project and supporting its smooth implementation is in line with the Group's long-term development direction. The EPC Project is expected to generate stable long-term returns and enhance the Group's market reputation and competitiveness in markets outside Hong Kong. Leveraging its existing EPC capabilities, the Company is currently identifying multiple new EPC-related business opportunities in Kazakhstan. The Company will continue to deploy the proceeds from the rights issue to expand its strategic focus beyond the local market and pursue growth opportunities in emerging "blue ocean" regions, including expanding EPC-related business and developing digital computing power asset-related business in Kazakhstan and/or other overseas markets. The terms of the EPC Agreement are entered into on normal commercial terms and are in the overall best interests of the Company and its shareholders.