ACWA POWER Company announces contract Sign Off with Saudi Water Partnership Company

Element List	Explanation
Introduction	ACWA POWER Company announces the signing of the Water Purchase Agreement (WPA) for Shuaibah 3 IWP Project (the Project), a 600,000 m3/d plant located in Shuaibah governorate in Mekkah province in the Kingdom of Saudi Arabia.

The Project is part of the conversion of the existing Shuaibah 3 IWPP plant into Seawater Reverse Osmosis Plant. The WPA has been signed between Shuaibah Three Water Desalination Company (SPV between ACWA Power and Badeel Company) and Saudi Water Partnership Company (Offtaker). The project is valued around SAR 3 billion SAR. Date of Announcement of the Award 2022-06-20 Corresponding to 1443-11-21 Contract Subject Matter Water Purchase Agreement Date of Signing the Contract 2022-06-20 Corresponding to 1443-11-21 Contract Value 3 Billion SAR Contract Details Development, construction, and Operation of 600,000 m3/day SWRO. Contract Duration 25 years Financial Impact and the Relevant Period The financial impact of the contracted revenues is expected once the Project achieves Project Commercial Operating Date (PCOD) on Q2 2025G. Related Parties NA Additional Information Shuaibah 3 IWP is associated with the conversion project of the existing co-generation plant of Shuaibah 3 IWPP.

Further information in relation to the conversion project will be made available on the Company’s website as necessary.

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