Title :

Acceptance of LOA for New Power Purchase Agreement

Content :

In continuation of its earlier disclosure regarding the receipt of a Letter of Award (“LOA”) for a new Power Purchase Agreement (“New PPA”) from Nama Power and Water Procurement Company (“PWP”), Al Batinah Power Company SAOG (“the Company” or “ABPC”) is pleased to announce that it has formally accepted the LOA on 18^th March 2026 and is in the process of finalizing and signing the New PPA with PWP.

Once signed the New PPA is scheduled to commence on 1^st April 2028, immediately following the expiry of the current PPA, and will remain in effect for 15 years, until 31^st March 2043. The Company is currently working with PWP to finalize and obtain the necessary approvals for the New PPA and related project agreements.

Under the terms of the LOA, the contracted capacity of the ABPC power plant will be 746.53 megawatts (MW). The New PPA ensures the continued offtake of power under mutually agreed commercial terms, strengthens the strategic partnership between ABPC and PWP, provides long-term revenue visibility, supports operational sustainability, and aligns with the Company’s long-term strategy in Oman.

The Company extends its appreciation to the Authority for Public Services Regulation, PWP, ABPC’s shareholders, and the Board of Directors for their continued support and collaboration.