SINGAPORE,Dec. 9,2024 --BE C&I Solutions Holding Pte. Ltd. ("BECIS") is pleased to announce US$53 million in new equity financing from existing shareholders,namely FMO,KLP Norfund Investments,Pula Investments (represented by Berkeley Energy) and Siemens Financial Services.

Operating across eight strategic markets—India,Thailand,Indonesia,Vietnam,Philippines,Malaysia,China,and Cambodia—BECIS specialises in a variety of decarbonisation solutions,which include Solar,Bioenergy,and a rapidly expanding New Solutions portfolio mainly in Cooling and Heating services. The new equity funding,coupled with recent completion of debt funding rounds,will position BECIS for continued success in its growth strategy,enabling the company to strengthen and expand its premier EaaS platform as the trusted partner for large multinational corporations with sustainability and decarbonisation goals.

With a robust funding plan in place,BECIS is on track to achieve a target portfolio of more than 600 MWp of Solar and 400 TPH of Bioenergy assets,as well as achieving significant growth in its New Solutions portfolio over the next 2 years.

Ludger Middendorp,Manager - Private Equity at FMO said: "We are pleased to support the continued growth of BECIS,a valued partner since 2019. BECIS's clean energy infrastructure for high-quality corporate clients,along with its contribution to job creation,aligns strongly with FMO's mission to advance SDG 8 and SDG 13. By enabling its strategic markets to move closer to achieving renewable energy targets and transitioning from centralised to decentralised energy generation and utilisation,BECIS is making a meaningful impact."

Pål Helgesen,Investment Director of Norfund said: "KLP and Norfund are thrilled to support BECIS in their mission to drive sustainable growth in the region. By providing climate-friendly services,BECIS empowers their clients to operate more sustainably with clean and reliable renewable energy."

Richard Collenette,Chief Executive Officer of Pula Investments said: "Pula Investments is pleased to announce its continued support of BECIS and the common goal of global decarbonisation and ensuring a sustainable future."

Steffen Grosse,Chief Executive Officer of Siemens Financial Services Equitysaid: "Siemens Financial Services is proud to increase our investment in BECIS,reinforcing our shared commitment to advancing sustainable,resilient energy solutions across Asia. This investment supports our common goal of scaling decarbonisation and delivering critical energy solutions that help industries transition to a low-carbon future."

Eren Ergin,Chief Executive Officer of BECIScommented: "We are pleased with the new equity commitment from our existing shareholders,which demonstrates the confidence and support the shareholders have in our growth plans. The equity funding,in conjunction with our recent debt raising successes,will allow BECIS to further expand our operations and accelerate the adoption of sustainable energy solutions in the region."

About FMO:

FMO is the Dutch entrepreneurial development bank. As a leading impact investor,FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 50+ year proven track-record in empowering entrepreneurs to make local economies more inclusive,productive,resilient and sustainable. FMO focuses on three sectors that have high development impact: Agribusiness,Food & Water,Energy,and Financial Institutions. With a total committed portfolio of EUR ~13 billion spanning over 85 countries,FMO is one of the larger bilateral private sector development banks globally. For more information: please visit www.fmo.nl.

About KLP:

KLP,the pension fund for Norway's municipal employees,is the country's biggest occupational pension fund with N0K1000bn (€85bn) under management. KLP is a mutual company,owned by Norwegian municipalities,health trusts and publicly owned companies. KLP has strict self-imposed guidelines for responsible investments,climate,and sustainability,and has released one of the industry most ambitious net zero emissions roadmaps "The Road to Paris".

https://www.klp.no/en/corporate-responsibility-and-responsible-investments/klps-roadmap-to-net-zero

About Norfund:

Norfund is the Norwegian Investment Fund for developing countries with a mission to create jobs and improve lives by investing in businesses that drive sustainable development. Owned and funded by the Norwegian Government,Norfund is the Government's most important tool for strengthening the private sector in developing countries and reducing poverty. Norfund's committed portfolio amounts to USD 3.6 billion,with investments across Sub-Saharan Africa,South/Southeast Asia,and Latin America. Additionally,Norfund manages the Norwegian Climate Investment Fund,which focuses on reducing or avoiding greenhouse gas emissions by investing in renewable energy in developing countries with large emissions from coal and other fossil fuel production. For more details,please visit: www.norfund.no.

About Pula Investments:

Pula Investments Limited is the family investment office (investing across several sectors and committed to sustainable practices) of Stephen Lansdown CBE,the co-founder of Hargreaves Lansdown,the UK's largest retail investment service and a FTSE 100 member.

About Siemens Financial Services (SFS):

Siemens Financial Services (SFS)– the B2B financing arm of Siemens – provides financing that makes a difference. At SFS,we empower customers around the globe to access technology with purpose and increase their competitiveness. Based on our unique combination of financial expertise,risk management and industry know-how we provide tailored financing solutions – including flexible leasing and working capital products,project-related and structured financing,corporate lending,equity investments,finance advisory,as well as trade and receivables financing. With highly experienced and passionate teams in 20+ countries,SFS paves the way for industrial productivity,smart infrastructure and sustainable mobility,facilitating the energy transition and enabling high-quality healthcare. www.siemens.com/finance

About BECIS

BECIS is a leading Energy as a Service (EaaS) provider to high-quality commercial and industrial customers. With the EaaS model,BECIS develops,constructs,operates and owns distributed energy solutions. This reduces the risk and complexity for our customers whilst achieving their key objectives of sustainability,increased cost efficiency and resilience of their energy infrastructure. For more information: please visit https://be-cis.com/.

Media enquiries to BECIS:

Pawarun Kongvijit

pawarun.kongvijit@be-cis.com

+66 6 1545 6226