ACWA Power announces signing of a Share Purchase Agreement to sell 30% of its shareholding in RAWEC IWSPP to Hassana Investment Company.

Element List	Explanation
Transaction Details	ACWA Power announces signing of a Share Purchase Agreement (“SPA”) to sell 30% of its shareholding in RAWEC IWSPP to Hassana Investment Company.
Transaction Amount	SAR 844 million
Transaction Conditions	NA
Parties of the Transaction	1. Arabian Company for Water and Power Projects.

2. Oasis Power One Conventional Energy and Water Company.

3. GOSI Investment Ventures Limited. Transaction Financing Method NA Date of Entering Into The Transaction 2024-06-03 Corresponding to 1445-11-26 Description of Activity of The Asset Subject of The Transaction RAWEC is an independent water, steam & power producer, supplying essential utilities on a captive basis to Petro Rabigh Co.. The project has a long-term off-take agreement with Petro Rabigh Co.. ACWA Power currently effectively holds 99% shareholding in the project (before this transaction). Asset Book Value SAR 731 million Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction Attached. Transaction reasons The sale is part of ACWA Power’s capital recycling strategy. Expected Impact of the Transaction on the Company and Its Operations The company expects to have a gain on this divestment. The divestment gain will be calculated on the closing date of transaction.

Additionally, RAWEC’s contribution to the group net income will proportionately reduce in line with the divestment. Details of Using The Proceeds of the Asset Sale The proceeds will be used for general corporate purposes. Related Parties NA Additional Information Closing (share transfer) is subject to satisfaction of the CPs in SPA. Attached Documents

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