ACWA Power

1. ACWA Power Media Kit

2. Who is ACWA Power ? This long-term view means that we become invested in the prosperity and stability of the nations in which we operate. We complement this dual approach with a focus on employing the brightest global talent to ensure we remain on the technological cutting edge – this has allowed us to break records; such as our tender for Dubai’s utility company’s (DEWA’s) Phase II and Phase IV of the Sheikh Mohammed bin Rashid al-Maktoum solar park which set the cheapest offtake price globally for solar energy at just US Cents 5.86 kWh and 7.3 cents kW/h respectively. ACWA Power is technology neutral and fuel agnostic. Using our experience, expertise and technological advantage, we select the most appropriate, efficient and reliable process to produce energy and water solutions. We have a commitment to sustainable solutions. Our energy portfolio is diverse including solar (PhotoVoltaic (PV)) and Concentrated Solar Power (CSP)), geo-thermal, wind power, waste-to-energy and clean coal. 16 percent of our portfolio is renewable energy by project cost and almost half our projects currently at financing stage are in renewables. By focusing on excellence, sustainability and technological innovation, we deliver long-term energy and water solutions to nations and communities in our selected markets of operations. Providing the foundations for social development & economic growth Water and power are essential commodities which provide the foundations for social development and economic growth. At ACWA Power we focus on providing these efficiently, reliably and safely, at the lowest possible cost while also supporting the communities in which we operate. We are aware that our people and plants can often make the difference to keep the lights switched on and taps running. The need for power and water has never been more acute. Demand is growing at an annual rate of seven percent for electricity and six percent for water in the countries in which we operate, largely as a result of population growth, greater urbanisationand industrialization, as citizens in emerging markets aspire to middle class lifestyles. But statistics often disguise the true nature of the demand gap as many less efficient plants are decommissioned, or fail to meet more rigorous environmental standards. Founded more than 10 years ago in the Kingdom of Saudi Arabia in response to government liberalisation of the energy market, we’ve defined and refined the Public Private Partnership (PPP) model. We’ve done this by viewing the governments in the markets in which we operate as partners. By focusing on countries with a commitment to PPP we’ve been able to build up real expertise using this model to offer government partners quick to market, efficient, reliable, ongoing operations. A key factor in our success has been our policy of also being investors in the plants which we build and operate. This means that we have vested interest in the success of the operations throughout the 25+ year lifecycles. This model also means we are fully committed to support the host communities in which we operate. We do this through skills training and development to provide a technically proficient local workforce, while also fostering local SMEs in our supply chain. In 2016 we funded 47 community projects with a value of SAR 11 Mnto support local communities develop additional revenue streams from farming improvements to arts and crafts. Our objective is to create long-term economic value. We do this in two ways; using our strong market presence to drive down costs along the entire length of our supply chain and recoup our costs over a generational (25-30 years) time frame.

3. Water and Power as building blocks for Development Water and Power are the twin building blocks of life, yet we’re facing a potential shortage in both as population increase and more people aspire to middle class lifestyles already expected in the industrialised world. The UN estimates that global energy demand will grow by 60 percent by 2040, while demand for water in the markets where we operate is growing at least six percent annually. Every aspect of the modern economy, from lighting to computing, depends on power; while the need for clean water is a self-evident aspect of our very humanity. However, few understand the inextricable link between the two. A study by researchers at Aarhus University and Vermont Law School showed that by 2040 there will not be enough water in the world to meet drinking needs and energy demands if current patterns of usage continue. The problem is further compounded when we consider the two other primary uses of water: agriculture and extractive industries. These connections mean that 45 percent of total global GDP, US $ 63 trillion, will be at risk due to water stress by 2050; that’s 1.5 times the size of today’s global economy. No development model is complete without providing solutions in both energy and water. ACWA Power is distinguished from many of its competitors as it provides both power and water solutions. At ACWA Power we’ve always understood this link; we’re a Saudi owned company, and 50 percent of our projects are in the Kingdom. We’re committed, alongside our partners, to be a solution to both energy and water shortages, often operating in some of the toughest physical environments in the world. We’re a development enabling company that looks to use the latest technologies in the world to help governments meet the needs of their growing populations. That means a business model focused on making profits over the long-term, not next week. Long-term challenges require long-term solutions, and at ACWA Power we’re determined to rise to that challenge.

4. A technology agnostic approach Tackling today’s and tomorrow’s water challenges requires a broad approach. We’re not wedded to any particular technology but take an agnostic approach; we chose the technologies most appropriate to meet the needs of the nations and communities with whom we partner. Whatever technology we use we won’t compromise on our commitment to the environment and social sustainability and to providing value over the long-term. We’re able to work at the cutting edge of so many diverse technologies because of our business model: we develop, invest and operate. Cutting-edge technology and rigorous supply chain management allow us to keep tariffs low and set global benchmarks for delivering the world’s cheapest energy. ACWA Power has the capacity to generate 22+GW of power and produce 2.7 million m3 of desalinated water per day. We’ve always had a commitment to clean energy and we’re investing in renewables because that’s where enduring solutions lie. 14 percent of ACWA Power’s energy portfolio by project cost is in renewable energy. In the coming pages, we will look at the range of energy generation and desalination technologies ACWA Power deploys and give examples of how it is used in our power plants around the world. A full list of our projects can be found on our website.

5. Concentrated Solar Power (CSP) Concentrated solar power systems generate solar power by using mirrors or lenses to focus a large area of sunlight onto a small area – unlike PV, which generates power through the photovoltaic effect. Electricity is generated when the concentrated light is converted to heat, which drives a steam turbine connected to an electrical power generator. Our latest addition to our CSP portfolio is the record-breaking 700MW CSP 4th phase of the Mohammed Bin Rashid Al Maktoum Solar Park. The project set a new benchmark with a tariff of $7.30c kW/h, providing electricity during the night. Photovoltaic (PV) A photovoltaic power station, also known as a solar park or farm, is a large-scale photovoltaic system (PV system) designed to supply power into the national electricity grid. Most people will be familiar with these from the large numbers of photovoltaic modules (colloquially known as solar panels), which can cover significant amounts of land. Unlike distributed solar panels on buildings our photovoltaic plants supply electricity at the utility level, directly replacing older power plants. ACWA Power was awarded the second phase of the 1GW Mohammed bin Rashid Al Maktoum Solar Park. The tariff, set at 5.84 US Cents/kWh over a 25-year period, was the lowest in the world at the time. This reflects the declining costs of Solar PV technology, which are making it more cost competitive with conventional sources like natural gas. Wind Wind power is the use of air flow through wind turbines to mechanically power generators for electricity. Like our solar farms, our wind farms connect multiple turbines direct to the power grid, replacing conventional power stations. Wind power varies significantly over the year and often needs to be complemented with other sources of electricity to ensure consistent power generation. ACWA Power’s Khalladi in Morocco is a 120MW Wind Farm IPP that has been developed in partnership with UPC Renewables. Located 30Km East of Tangiers it won ‘Best Wind Deal’ in the IJGlobal awards. Our Renewable Power Generation Technologies

6. Thermal Storage Technology (TES) Thermal energy storage (TES) stocks thermal energy by heating a storage medium so that the stored energy can be used at a later time for concentrated power generation. It can be combined effectively with solar power generation to allow continuous energy usage through the night-time. The Bokpoort CSP project is a Greenfield Independent Power Project (IPP) which is part of South Africa’s renewable IPP program. The project has a total power generating capacity of 50MW net power output. It is equipped with the largest thermal storage size ever adopted for a similar operational size.

7. Gas Some of the earliest power stations in ACWA Power’s portfolio are natural gas and they remain a core part of our business. They generate far less GHG emissions that the traditional coal and oil fired stations used throughout the region. One of our latest plants HajrIPP is being developed on a build, own, operate basis on the eastern coast of Saudi Arabia and will have a net generation capacity of 3,927MW. The design production capacity will make it the largest IPP combined cycle gas-fired power plant in the world. HajrIPP was recognisedas a landmark transaction and won numerous awards including the Middle East IPP Deal of the Year (2011) from Project Finance magazine, and the Best Project Finance Deal in 2011, Islamic Finance and ‘Best Power Deal’ from EMEA in Finance Magazine. Clean Coal Clean coal power stations use sophisticated technologies to mitigate emissions of carbon dioxide (CO2) and other greenhouse gases that arise from the utilization of coal. There are seven clean coal technologies currently deployed: carbon capture and storage, fluegas desulfurization, fluidized-bed combustion, integrated gasification combined cycle (IGCC), low nitrogen oxide burners, selective catalytic reduction (SCR), and electrostatic precipitators. In 2015 ACWA Power, was chosen by the Dubai Electricity and Water Authority (DEWA) to lead a consortium, alongside Harbin Electric International, to develop, construct and operate Phase 1 of the 2,400MW Hassyan clean coal power plant. The project received the “Power Deal of the Year 2016” accolade at the IJ Global Awards. The plant, located in SaihShuaib on the border between Dubai and Abu Dhabi, also includes integrated transhipment coal and dry bulk handling facilities. The ultra-supercritical plant is the first coal based power plant in the GCC region and is designed to be a ‘best in class’ plant in terms of efficiency, output and adherence to global environmental best practices. Our Hydrocarbon Portfolio

8. Desalination We remove salt from water to make it suitable for human and agricultural use. Desalination is the life blood of many countries in the Middle East and Africa, where sufficient fresh water resources simply do not exist to support modern population levels. There are multiple desalination technologies used at various stages of the process, but all these fall under two broad types: Thermal desalination and reverse osmosis.

9. Thermal Desalination Essentially boiling water, using a vacuum distillatory, at less than atmospheric pressure. The method allows water to be boiled at a lower temperature than in air helping to reduce power consumption, however this method is still power intensive and we often co-locate our desalination plants with power stations. ACWA Power’s Marafiq IWPP is the world’s largest power and desalination plant, consisting of 16 units of gas fired GE turbines with a net capacity of c.2,743MW and 27 desalination units manufactured by SIDEM, producing 800,000 m3/ day of desalinated water. Three of the four blocks are power and desalination blocks, each of which comprises three gas turbines operating in a combined cycle with a single backpressure steam turbine. Steam from the turbine exhaust is used to feed the desalination process. Reverse Osmosis Membrane processes use semipermeable membranes and pressure to separate salts from water. Reverse osmosis plant membrane systems typically use less energy than thermal. ACWA Power’s BarkaIWP expansion near Muscat in Oman, uses reverse osmosis technology to produce 45,460 m3/day of desalinated water. The plant is built and operated in conjunction with NOMAC Oman distillation. ACWA Power’s desalination facilities range from fixed, coastal installations to floating barges.

10. Biographies Mohammad A. Abunayyan Chairman With more than 30 years of experience in water desalination and power generation, Mr. Abunayyanserves as chairman of ACWA Power International and Abunayyan Holding, where he is widely recognized as one of the most respected leaders in the water and energy sectors. Under his leadership, ACWA Power has grown into a leading private sector energy and water provider, achieving significant milestones since he founded the company in 2004. Mr. Abunayyan also serves as Chairman and Board Member of several world-leading organisations, in addition to holding a number of prestigious honorary and leadership positions focused on transforming and diversifying the economy of Saudi Arabia. Specialist topics • Power and water needs in developing nations • Innovation and best practices in the energy and water sectors • How energy and water projects can be a stimulus for social development and economic growth • Economic diversification in the Kingdom of Saudi Arabia

11. Mr. Al Sharhan is a professional engineer with over 30 years of experience. Before joining ACWA Power, as Managing Director, Mr. Al Sharhan was President and Chief Executive Officer of Marafiq; the principal utility company serving the cities of Jubail and Yanbu. His career began at SABIC where he rose to become President of Saudi Petrochemical Company (SADAF), President of SABIC Terminal Services Co. (SabTank) and Senior Manager at Arabian Petrochemical Company (Petrokemya). Mr. Al Sharhan holds a degree in chemical engineering and serves on the board of several companies and charitable foundations. Specialist topics •ACWA Power’s business strategy •Working with governments as a private sector provider •The challenges of utility provision in the GCC •Advances in petro-chemical technology Mr. Padmanathan is a professional civil engineer, with over 35 years of experience. He joined ACWA Power as CEO in 2006. Mr. Padmanathan began his career in Black & Veatch (previously John Burrow and Partners), a major global engineering and construction company, latterly serving as a Vice President and Corporate officer. He has worked in the UAE, Algeria, Botswana, Zambia and Swaziland, amongst others. Mr. Padmanathan holds a degree in engineering from the University of Manchester and serves on the board of several water and power companies. Specialist topics •ACWA Power’s business strategy •Worldwide power and water needs •Fostering talent •The future of sustainable technology •Working with governments as a private sector provider Thamer Al-Sharhan Managing Director Paddy Padmanathan President & CEO

12. Mr. Nanda is responsible for ACWA Powers’ growth and remains functionally in charge of new business development, legal (projects), acquisitions & divestiture, and corporate and project finance. Mr. Nanda has also led the structuring and financing of Independent Water and Power Projects IPP / IWPPs in Oman, Saudi Arabia, Jordan, Bahrain, Abu Dhabi, Qatar, Thailand, Singapore, Morocco, Turkey and South Africa. He is currently overseeing ACWA Power’s expansion across MENA, Southern Africa and South East Asia. Before joining ACWA Power Mr. Nanda was the Regional CFO for Engie’s Middle East, Asia & Africa region. Mr. Nanda sits on the Board of several power and utility companies owned and operated by ACWA Power. Specialist topics •Energy and desalination finance •ACWA Power’s expansion plans in the GCC, North & Southern Africa, and South East Asia •IPP financing model •The future of the Power & Utilities industry Mr. Rana has over 10 years of power and water sector experience covering all areas of project development, structuring, project financing, security offering and other areas of operational finance and tax structuring. Before becoming CFO, Mr. Rana was Director of Accounting, Controls & Taxation at ACWA Power and CFO for AES Middle East Region. Mr. Rana is a Chartered Accountant who qualified in 2001 from the Institute of Chartered Accountants of Pakistan. Specialist topics •ACWA Power’s business strategy •Compliance in the energy sector •Tax environments in the GCC with regard to the energy and desalination sectors KashifRana Chief Financial Officer Rajit Nanda Chief Investment Officer

13. Mr. Lucas Hautvast has over 15 years of experience in the power sector covering all areas of PPA markets, strategy and M&As. Before joining ACWA Power as COO of International Assets, Hautvast was regional CEO for the Middle East, South Asia and Africa at ENGIE. • Mr. Hautvast holds a MBA of the University of Groningen, The Netherlands and sits on the Board of several power and utility companies owned and operated by ACWA Power. • Specialist topics: • • ACWA Power’s business strategy • • ACWA Power’s assets and asset management • • Power purchase agreements • • Merchant markets Lucas Hautvast Chief Operating Officer- International, Assets Management www.acwapower.com