Title :

Update on New Power Purchase Agreement

Content :

Further to the Company’s previous disclosure regarding ongoing discussions for a new Power Purchase Agreement (“New PPA”), the Board of Directors of Al Batinah Power Company SAOG (“the Company” or “ABPC”) would like to inform the Financial Services Authority, the Muscat Stock Exchange, and the investor community that the Company has received on 16^th March 2026 a Letter of Award(“LOA”) from Nama Power and Water Procurement Company (“PWP”) in relation to the proposed New PPA.

Subject to the execution of the New PPA anticipated under the LOA, the term of the New PPA is expected to commence on 1 April 2028, immediately following the expiry of the current Power Purchase Agreement, and will remain in force for a period of 15 years until 31 March 2043 under mutually agreed commercial terms.

PWP requested from the company to confirm its acceptance of the letter of award by 18 March 2026, Therefore the company is currently in the process of reviewing and preparing a response to the correspondence received from PWP and will announce any material developments in accordance with the applicable disclosure requirement.