ADES Holding completes the signing of the recent 6 onshore contract awards in Kuwait with KOC.

Element List	Explanation
Date of Announcement of the Award	2024-05-26 Corresponding to 1445-11-18
Contract Subject Matter	Contract For Drilling Services
The Entity with Which the Contract was Signed	Kuwait Oil Company (KOC)
Date of Signing the Contract	2024-08-11 Corresponding to 1446-02-07
Contract Value	Approximately SAR 2.42 billion
Contract Details	All contracts under the Award are expected to commence during the second and third quarters of 2025 and will run for a five-year firm term with a one-year optional extension.

The Award includes new contracts for four of the Company’s current operating rigs in Kuwait as well as two newbuild units. Contract Duration 5-years firm and 1-year optional Financial Impact and the Relevant Period Contracts are expected to commence during the second and third quarters of 2025 Related Parties N/A

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