SEMBCORP LAUNCHES NEW CARBON MANAGEMENT SOLUTIONS CORPORATE VENTURE, GONETZERO™

- Collaborations with OCBC,Razer and UBS to drive decarbonisation initiatives

SINGAPORE,Nov. 15,2022 --Sembcorp Industries (Sembcorp) will be launching its carbon management solutions corporate venture,GoNetZero™,today at the Singapore Pavilion at the 27th United Nations Climate Change Conference (COP27) in Egypt.

A one-stop renewable energy and carbon management solutions partner

The establishment of GoNetZero™complements Sembcorp's offering as a leading pan-Asian renewable energy player. By offering one-stop access to renewable energy certificates and carbon credits as well as renewable energy and environmental attribute portfolio management,GoNetZero™ works with its customers to support their corporate climate action plans.

Ng Lay San,Co-founder and Head of GoNetZero™,said: "Corporates hold the key towards global net zero emissions. GoNetZero™provides corporates with the full suite of solutions from renewable energy certificates to carbon credits,to achieve their decarbonisation goals."

A collaborative platform with capabilities for real-time verified renewable energy

Backed by Sembcorp's deep engineering and digital expertise,GoNetZero™ is underpinned by a collaborative digital platform using blockchain technology.

Charles Koh,Platform Founder of GoNetZero™and Chief Digital Officer of Sembcorp said,"We have built the GoNetZero™ digital platform using blockchain technology. The platform provides analytics,reporting and tracking tools,with the capability to verify renewable energy from source in real time. Corporate customers can execute their climate action plans with confidence and transparency."

Partnering leading corporates on decarbonisation initiatives

Several initiatives in collaboration with leading industry players will be announced together with the launch of GoNetZero™.

OCBC Bankis partnering GoNetZero™on a renewable energy certificate aggregation programme with financing support. The programme aims to encourage corporates to deploy and adopt renewable energy through various initiatives. The first phase of the programme will target companies in Singapore,with plans to expand to Southeast Asia later.

Razer,the leading global lifestyle brand for gamers,launched its sustainability service Restorify last week. Fronted by Razer Fintech,the company's financial technology arm,Restorify offers traceable and fractionalised carbon neutral checkout to both consumers and businesses. This is made possible through its partnership with GoNetZero™and ESGpedia.

Together with GoNetZero™,UBS in Singapore is piloting Asia's first hourly matching of power consumption with renewable energy that it procures in Singapore following EnergyTag's certification standards.Using GoNetZero™'s blockchain-based digital platform,the pilot at UBS's Singapore office will showcase the possibility of time-based granular verification and tracking,to identify opportunities for further carbon footprint reduction.

Supported by EDB's Corporate Venture Launchpad

GoNetZero™was supported by the Singapore Economic Development Board's (EDB) Corporate Venture Launchpad,a corporate venturing programme to help companies launch new ventures from Singapore with the potential to become globally leading businesses.

This announcement has no impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending December 31,2022.

For analysts' and media queries,please contact:

Analysts

Media

Ling Xin Jin

Assistant Vice President

Group Investor Relations

DID: +65 6723 3384

ling.xinjin@sembcorp.com

Karin Xiao

Assistant Vice President

Group Media Communications

Tel: +65 6723 3140

karin.xiao@sembcorp.com

ABOUT GONETZERO™

GoNetZero™is a trusted net zero solutions partner to corporates. By providing one-stop access to renewable energy and carbon management solutions including renewable energy certificates and carbon credits,GoNetZero™ enables corporates in Asia and globally to take urgent climate action.

Underpinned by a collaborative digital platform using blockchain technology,GoNetZero™offers renewable energy and environmental attribute portfolio management,a marketplace for renewable energy certificates and carbon credits and has the capability to verify renewable energy from source in real time.

GoNetZero™is a corporate venture of Sembcorp Industries,a leading pan-Asian renewable energy player. For more information,please visit www.gonetzero.ai/

For more information on Sembcorp Industries,please visit www.sembcorp.com

Please click here for more information on GoNetZero™digital platform and download the infographic on how sub-hourly matching of renewable energy with consumption works.