The Annex Contains the Following:

(1)

Table of content Item No دنبلا مقر تايوتحملا ةمئاق

General Assembly Meeting Agenda. - - . ةماعلا ةيعمجلا لامعأ لودج

Board Audit Committee Report. - - . ةعجارملا ةنجل ريرقت

Chairman notification letter pertaining to business and contracts which involves interest to directors in accordance to article 71 of the Companies Law.

8-32 32-8 دوقعلاو لامعلأا صوصخب ةرادلإا سلجم سيئر غيلبت ةداملل اقفو سلجملا ءاضعلأ ةحلصم لثمت يتلا 71

نم

شلا ماظت .تاكر

External Auditor report pertaining to business and contracts which involves interest to directors in accordance to article 71 of the Companies Law.

8-32 32-8 دوقعلاو لامعلأا صوصخب يجراخلا عجارملا ريرقت ةداملل اقفو سلجملا ءاضعلأ ةحلصم لثمت يتلا 71

نم

تاكرشلا ماظت .

Summary of competing interest. 33-34 34-33 .ةسفانملا لامعلأل صخلم

The Annex Contains the Following:

(2)

General Assembly Meeting Agenda ةيعمجلا لامعأ لودج 1 - Voting on the auditor's report for Company's

accounts for the fiscal year ending on 31/12/2021G.

- يف يهتنملا يلاملا ماعلل تاباسحلا عجارم ريرقت ىلع تيوصتلا

31 / 12 / 2021

.م 1

2 - Voting on the Board of Directors report for the fiscal year ending on 31/12/2021G.

يف يهتنملا يلاملا ماعلل ةرادلإا سلجم ريرقت ىلع تيوصتلا 31 / 12 / 2021

.م 2

3 - Voting on the financial statements for the fiscal

year ending on 31/12/2021G. يف يهتنملا يلاملا ماعلل ةكرشلل ةيلاملا مئاوقلا ىلع تيوصتلا - 31 / 12 / 2021

.م 3

4 - Voting on the Board’s recommendations to distribute dividends amounting to SAR 562,946,791 to the shareholders for financial period of 31/12/2021 at (SAR 0,77) per share representing 7,7% of the nominal value per share.

Provided that the entitlement to dividends is for shareholders holding the shares by the end of the trading day of the assembly date, and who are registered in the Company's shareholders registry held with the Securities Depository Center Company (Edaa) at the end of the second trading day following the entitlement date, and provided that the distribution of dividends begins on Thursday 21/07/2022G.

- غلبمب ةيدقن حابرأ عيزوتب ةرادلإا سلجم ةيصوت ىلع تيوصتلا

562,946,791

ةيلاملا ةرتفلا نع نيمهاسملا ىلع يدوعس ريال

31 / 12 / 2021 ( عقاوب ،م 0.77

يتلاو دحاولا مهسلل يدوعس ريال )

( لثمت 7,7

% ةيقحلأا نوكت نأ ىلع ،دحاولا مهسلل ةيمسلاا ةميقلا نم )

يمهاسملل ةماعلا ةيعمجلا داقعنا موي لوادت ةياهنب مهسلأل نيكلاملا ن قارولأا عاديإ زكرم ةكرش ىدل ةكرشلا يمهاسم لجس يف نيديقملاو ،قاقحتسلاا خيرات يلي لوادت موي يناث ةياهن يف )عاديلإا زكرم( ةيلاملا سيمخلا موي يف حابرلأا عيزوت أدبي نأ ىلع 21

/ 07 / 2022 .م

4

5 - Voting to approve the delegation to the Board of Directors to distribute interim dividends on a semi or quarterly annual basis for the fiscal year ending on 31/12/2022G and to determine the maturity and disbursement dates in accordance with the regulatory rules and procedures issued pursuant to the Companies Law, and commensurate the Company's financial position, cash flows and expansion and investment plans.

- لكشب ةيلحرم حابرأ عيزوتب ةرادلإا سلجم ضيوفت ىلع تيوصتلا يف يهتنملا يلاملا ماعلا نع يونس عبر وأ يونس فصن

31 / 12 / 2022 طباوضلل ًاقفو فرصلاو قاقحتسلإا خيرات ديدحتو ،م

بسانتي امب كلذو تاكرشلا ماظنل ًاذيفنت ةرداصلا ةيميظنتلا تاءارجلإاو ةيعسوتلا اهططخو ةيدقنلا اهتاقفدتو يلاملا ةكرشلا عضو عم .ةيرامثتسلإاو

5

6 - Voting on the discharge of the members of the Board of Directors for the fiscal year ending on 31/12/2021G.

- يهتنملا يلاملا ماعلل ةرادلإا سلجم ءاضعأ ةمذ ءاربإ ىلع تيوصتلا

يف 31 / 12 / 2021

.م 6

7 - Voting on delegating to the Board of Directors the authorisation powers of the General Assembly stipulated in paragraph (1) of Article 71 of the Companies Law, for a period of one year starting from the date of the approval by the General Assembly or until the end of the delegated Board of

- ةماعلا ةيعمجلا ةيحلاصب ةرادلإا سلجم ضيوفت ىلع تيوصتلا

( ةرقفلا يف دراولا صيخرتلاب ةيداعلا 1

نيعبسلاو ةيداحلا ةداملا نم )

ذو ،تاكرشلا ماظن نم ةماعلا ةيعمجلا ةقفاوم خيرات نم ماع ةدمل كل

طورشلل ًاقفو ،قبسأ امهيأ ضوفملا ةرادلإا سلجم ةرود ةياهن ىتح وأ ماظنل ًاذيفنت ةرداصلا ةيميظنتلا تاءارجلااو طباوضلا يف ةدراولا .ةجردملا ةمهاسملا تاكرشب ةصاخلا تاكرشلا

7 The Agenda of the Ordinary General Assembly Meeting for ACWA POWER Co. shareholders the first ordinary general assembly meeting, which is scheduled to be held via modern technology means, at 18:30 on Thursday

06/30/2022 AD corresponding to 12/01/1443 AH.

(3)

Directors’ term, whichever is earlier, in accordance with the conditions set forth in the Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies.

8 - Voting on the business and contracts concluded between the Company and Saudi Arabian British Bank (“SABB”), in which former Board member Mr.

Raid Ismail has an indirect interest. These businesses and contracts are appointing SABB as one of the main investors in ACWA POWER Sukuk for a period of 7 years, at an amount of SAR 300,000,000, There are no preferential terms in these Businesses and contracts. (Attached)

- كنبلاو ةكرشلا نيب تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا قباسلا ةرادلإا سلجم وضعل يتلاو )"باس"( يناطيربلا يدوعسلا نييعت نع ةرابع يهو اهيف ةرشابم ريغ ةحلصم ليعامسا دئار /ذاتسلاا ةدمل رواب اوكأ كوكصل نييسيئرلا نيدوزملا دحأك باس 7

تاونس

غلبمب 300.000.000 يف ةيليضفت طورش يأ دجويلاو يدوعس ريال

)قفرم( .دوقعلاو لامعلأا هذه 8

Raid Ismail has an indirect interest. These businesses and contracts provide an Equity Bridge Loan for a period of 7 years for Shuaiba 3 IWP to support project capital in the amount of SAR 506,250,000. There are no preferential terms in these businesses and contracts. (Attached)

يدوعسلا كنبلاو ةكرشلا نيب تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا دئار /ذاتسلاا قباسلا ةرادلإا سلجم وضعل يتلاو )"باس"( يناطيربلا صم ليعامسا ضرق ميدقت نع ةرابع يهو اهيف ةرشابم ريغ ةحل

ةدمل يريسجت 7

هايملل لقتسملا ةبيعشلا عورشم حلاصل تاونس 3

معدل

غلبمب عورشملا لامسأر 506.250.000

يأ دجويلاو يدوعس ريال

)قفرم( .دوقعلاو لامعلأا هذه يف ةيليضفت طورش 9

Raid Ismail has an indirect interest. These businesses and contracts provide LRA LC, renewed every 6 months for Shuaiba Expansion project to support the project for SAR 34,632,750 as of 31 December 2021. There are no preferential terms in these Businesses and contracts. (Attached)

- كنبلاو ةكرشلا نيب تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا قباسلا ةرادلإا سلجم وضعل يتلاو )"باس"( يناطيربلا يدوعسلا

عامسا دئار /ذاتسلاا ميدقت نع ةرابع يهو اهيف ةرشابم ريغ ةحلصم لي

عورشمل يونس فصن لكشب ددجي يطايتحا يدنتسم دامتعا باطخ غلبمب عورشملل مدقملا ليومتلا معدل هايملل لقتسملا ةبيعشلا ةعسوت 34.632.750

يف امك يدوعس ريال 31

ربمسيد 2021 يأ دجويلاو

فرم( .دوقعلاو لامعلأا هذه يف ةيليضفت طورش )ق

10

Raid Ismail has an indirect interest. These businesses and contracts provide Equity LC, renewable every year for Red Stone CSP in South Africa to support the project capital at an amount of SAR 263,320,689 as of 31 December 2021. There are no preferential terms in these Businesses and contracts. (Attached)

- ت يتلا دوقعلاو لامعلأا ىلع تيوصتلا كنبلاو ةكرشلا نيب تم

قباسلا ةرادلإا سلجم وضعل يتلاو )"باس"( يناطيربلا يدوعسلا ميدقت نع ةرابع يهو اهيف ةرشابم ريغ ةحلصم ليعامسا دئار /ذاتسلاا يف نوتس دير عورشمل يونس ددجي يطايتحا يدنتسم دامتعا باطخ غلبمب عورشملا لامسأر معدل ايقيرفأ بونج 263.320.689

ريال

عس يف امك يدو 31

ربمسيد 2021 يف ةيليضفت طورش يأ دجويلاو

12 - Voting on the business and contracts concluded between the Company and Riyad Bank, in which former Board member His Excellency Mr.

Mohammed Alnahas has an indirect interest. These businesses and contracts provide Local Content Bond for a period of 39 months for REPDO 2 to satisfy local content requirement with an amount of SAR 47,812,500 as of 31 December 2021. There are

- ضايرلا كنبو ةكرشلا نيب تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا ساحنلا دمحم /ذاتسلاا يلاعم قباسلا ةرادلإا سلجم وضعل يتلاو يلحم ىوتحم نامض ميدقت نع ةرابع يهو ،اهيف ةرشابم ريغ ةحلصم ةدمل 39 لل ينطولا جمانربلا نم ةيناثلا ةلحرملا عيراشمل ارهش ةقاط

ودبير( ةددجتملا 2

غلبمب يلحملا ىوتحملا تابلطتمب ءافولل )

47.812.500

(4)

no preferential terms in these businesses and contracts. (Attached)

Mohammed Al Nahhas has an indirect interest.

These businesses and contracts provide Equity LC for a period of 36 months for Sirdarya CCGT 1 in Uzbekistan to support the project capital with an amount of SAR 21,442,763 as of 31 December 2021.

There are no preferential terms in these businesses and contracts. (Attached)

- ضايرلا كنبو ةكرشلا نيب تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا ساحنلا دمحم /ذاتسلاا يلاعم قباسلا ةرادلإا سلجم وضعل يتلاو

،اهيف ةرشابم ريغ ةحلصم دامتعا باطخ ميدقت نع ةرابع يهو

ةدمل يطايتحا يدنتسم 36

ةقاطلا ديلوتل ايرادريس عورشمل ارهش

ةبكرملا زاغلا ةرودب 1

غلبمب عورشملا لامسأر معدل ناتسكبزوأ يف

21.442.763

Mohammed Alnahas has an indirect interest. These businesses and contracts provide DSRA LC for a period of 39 months for Sirdarya CCGT 1 in Uzbekistan to support the project with an amount of SAR 178,278,139 as of 31 December 2021. There are no preferential terms in these businesses and contracts. (Attached)

- ضايرلا كنبو ةكرشلا نيب تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا

يتلاو ساحنلا دمحم /ذاتسلاا يلاعم قباسلا ةرادلإا سلجم وضعل دامتعا باطخ ميدقت نع ةرابع يهو ،اهيف ةرشابم ريغ ةحلصم

ةدمل يطايتحا يدنتسم 39

ةقاطلا ديلوتل ايرادريس عورشمل ارهش

ةبكرملا زاغلا ةرودب 1

عورشملل مدقملا ليومتلا معدل ناتسكبزوأ يف

غلبمب 178.278.139

عس ريال يف امك يدو 31

ربمسيد 2021

)قفرم( .دوقعلاو لامعلأا هذه يف ةيليضفت طورش يأ دجويلاو 14

These businesses and contracts are appointing Riyad Bank as one of the investors in ACWA POWER Sukuk for a period of 7 years, at an amount of SAR 30,000,000. There are no preferential terms in these businesses and contracts. (Attached)

- تيوصتلا ضايرلا كنبو ةكرشلا نيب تمت يتلا دوقعلاو لامعلأا ىلع

ساحنلا دمحم /ذاتسلاا يلاعم قباسلا ةرادلإا سلجم وضعل يتلاو دحأ ضايرلا كنب نييعت نع ةرابع يهو ،اهيف ةرشابم ريغ ةحلصم ةدمل رواب اوكأ كوكصل نيدوزملا 7

غلبمب تاونس 30.000.000

يليضفت طورش يأ دجويلاو يدوعس ريال .دوقعلاو لامعلأا هذه يف ة

)قفرم(

15

These businesses and contracts provide a Hedging Guarantee for a period of 3 years for Sudair IPP. The Mark-to-Market value as of 31 December 2021 was Zero SAR. There are no preferential terms in these businesses and contracts. (Attached)

- نيب تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا ضايرلا كنبو ةكرشلا

ساحنلا دمحم /ذاتسلاا يلاعم قباسلا ةرادلإا سلجم وضعل يتلاو ةدمل طوحت دقع ميدقت نع ةرابع يهو ،اهيف ةرشابم ريغ ةحلصم 3

يف قوسلا ةميقل اقفوو ةيسمشلا ةقاطلل ريدس عورشمل تاونس 31 / 12 / 2021 طورش يأ دجويلا يدوعس ريال رفص دقعلا ةميق

هذه يف ةيليضفت )قفرم( .دوقعلاو لامعلأا

16

These businesses and contracts provide Bid Guarantee (Bid Bond) for period of 8 months for Sirdarya CCGT 2 in Uzbekistan to support bidding for the project with an amount of SAR 37,500,000 as of 31 December 2021. There are no preferential terms in these businesses and contracts. (Attached)

- ع تيوصتلا ضايرلا كنبو ةكرشلا نيب تمت يتلا دوقعلاو لامعلأا ىل

ساحنلا دمحم /ذاتسلاا يلاعم قباسلا ةرادلإا سلجم وضعل يتلاو ةدمل يئدبم نامض ميدقت نع ةرابع يهو ،اهيف ةرشابم ريغ ةحلصم 8

زاغلا ةرودب ةقاطلا ديلوتل ايرادريس عورشم ةكرشلا ءاطعل روهشا ةبكرملا 2 عدل ناتسكبزوأ يف ةميقب عورشملا ةصقانم ميدقت م

37.500.000

(5)

These businesses and contracts provide Bid Guarantee (Bid Bond) for a period of 14 months for Nukus Wind in Uzbekistan to support bidding for the project with an amount of SAR 5,625,000 as of 31 December 2021. There are no preferential terms in these businesses and contracts. (Attached)

- ضايرلا كنبو ةكرشلا نيب تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا ساحنلا دمحم /ذاتسلاا يلاعم قباسلا ةرادلإا سلجم وضعل يتلاو

نامض ميدقت نع ةرابع يهو ،اهيف ةرشابم ريغ ةحلصم

ةدمل يئدبم

14 معدل ناتسكبزوأ يف (سوكون) حاير عورشمل ةكرشلا ءاطعل ارهش

ةميقب عورشملا ةصقانم ميدقت 5.625.000

ربمسيد 2021 .دوقعلاو لامعلأا هذه يف ةيليضفت طورش يأ دجويلاو

)قفرم(

18

19 - Voting on the business and contracts concluded between the Company and Saudi National Bank SNB, in which Board member Mr. Abdullah Al Rowais has an indirect interest. These businesses and contracts provide a Development Security Facility for 46 months for Sudair IPP to support development of the project with an amount of SAR 106,192,998. There are no preferential terms in these businesses and contracts. (Attached)

- يلهلأا كنبلاو ةكرشلا نيب تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا ةحلصم سيورلا اللهدبع /ذاتسلاا ةرادلإا سلجم وضعل يتلاو يدوعسلا

ةرشابم ريغ ةدمل يريوطت نامض ميدقت نع ةرابع يهو اهيف

46 ارهش

ةميقب عورشملا ريوطت معدل ةيسمشلا ةقاطلل ريدس عورشمل 106,192,998

هذه يف ةيليضفت طورش يأ دجويلاو يدوعس ريال

)قفرم( .دوقعلاو لامعلأا 19

20 - Voting on the business and contracts concluded between one of the Company affiliates and Saudi Tabreed, in which Chairman of the Board of Directors Mr. Mohammed Abunayyan Board member Mr. Omar Almidani and Former Board Members Mr. Suliman Al Muhaidib and Mr. Rasheed Al Rasheed have an indirect interest. These businesses and contracts are represented by the entry of Saudi Tabreed as a partner investing 15%

in the red Sea Project Utility Assets and Infrastructure PPP, with a value of SAR 151,370,643.56. There are no preferential terms in these businesses and contracts. (Attached)

- ةعباتلا تاكرشلا ىدحإ نيب تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا وبأ دمحم /ذاتسلاا ةرادلإا سلجم سيئرل يتلاو ةيدوعسلا ديربت ةكرشو سلجم يوضعو يناديملا رمع/ذاتسلأا ةرادلإا سلجم وضعو ناين ديشرلا ديشر /ذاتسلااو بديهملا ناميلس /ذاتسلاا نيقباسلا ةرادلإا ةحلصم ةكرش لوخد يف لثمتت دوقعلاو لامعلأا هذهو اهيف ةرشابم ريغ

ةبسنب رمثتسم كيرشك ةيدوعسلا ديربت 15

% ىنبلا ريوطت عورشم يف

غلبت ةميقب رمحلأا رحبلا عورشم قفارمل لوصلأاو ةيتحتلا 151,370,643.56

يف ةيليضفت طورش يأ دجويلاو يدوعس ريال

21 - Voting on the business and contracts concluded and that will be concluded between the Company and Burj Rafal Real-estate Development company, in which Chairman of the Board of Directors Mr.

Mohammed Abunayyan has an indirect interest.

These businesses and contracts are represented by fees of utility services for one of company’s residential property, with value of SAR 9,799 for six months, noting this is an ongoing fees with an estimated monthly value of SAR 2,000. There are no preferential terms in these Businesses and contracts. (Attached)

- ةكرشو ةكرشلا نيب متتسو تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا / ذاتسلاا ةرادلإا سلجم سيئرل يتلاو يراقعلا ريوطتلل لافار جرب لثمتت دوقعلاو لامعلأا هذهو اهيف ةرشابم ريغ ةحلصم ناين وبأ دمحم رملا تامدخ موسر يف غلبت ةميقب ةكرشلل كولمم ينكس راقعل قفا

9,799 موسرلا هذه نأب املع ،رهشأ ةتس ةدمل ايونس يدوعس ريال

يلاوح غلبتو ايرود عفدت 2,000

يأ دجويلاو ايرهش يدوعس ريال

22 - Voting on the business and contracts concluded between the First National Operations and Maintenance Company (“NOMAC”) – affiliate of ACWA POWER- and (KSB Pumps Arabia), in which Chairman of the Board of Directors (Mr.

Mohammad Abdullah Abunayyan) has an (indirect)

- ةينطولا ةكرشلا نيب تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا

)"كامون"( ةنايصلاو ليغشتلل ىلولأا -

رواب اوكلأ ةعبات ةكرش -

ةرادلإا سلجم سيئرل يتلاو )تاخضملل ةيبرعلا يب سا يك( ةكرشو يهو ،اهيف )ةرشابم ريغ( ةحلصم )ناين وبا اللهدبع دمحم /ذاتسلاا(

ءارش رمأ( نع ةرابع عطق ريفوتل ةصاخ طورش نودبو ةدحاو ةرمل

( غلبمب )عيراشملا تاكرش تاجايتحا ةيبلتل ةمزلالا رايغلا 93,900

)

22

(6)

interest. These businesses and contracts are (Purchase Orders with no special conditions for one time to supply the required spare parts to fulfil the demand of Project Companies) and in the amount of (SAR 93,900). There are no preferential terms in these businesses and contracts. (Attached)

.دوقعلاو لامعلأا هذه يف ةيليضفت طورش يأ دجويلاو .يدوعس ريال )قفرم(

Mohammad Abdullah Abunayyan) has an (indirect) interest. These businesses and contracts are (Purchase Orders with no special conditions for one time to supply the required spare parts to fulfil the demand of Project Companies) and in the amount of (SAR 1,590). There are no preferential terms in these businesses and contracts. (Attached)

- تلا دوقعلاو لامعلأا ىلع تيوصتلا ةينطولا ةكرشلا نيب تمت ي

يفوتل ةصاخ طورش نودبو ةدحاو ةرمل ءارش رمأ( نع ةرابع عطق ر

( غلبمب )عيراشملا تاكرش تاجايتحا ةيبلتل ةمزلالا رايغلا 1,590

)

23

Mohammad Abdullah Abunayyan) has an (indirect) interest. These businesses and contracts are (Purchase Orders with no special conditions for one time to supply the required spare parts to fulfil the demand of Project Companies) and in the amount of (SAR 120,800). There are no preferential terms in these businesses and contracts. (Attached)

ىلولأا )"كامون"( ةنايصلاو ليغشتلل -

عطق ريفوتل ةصاخ طورش نودبو ةدحاو ةرمل ءارش رمأ( نع ةرابع يتحا ةيبلتل ةمزلالا رايغلا ( غلبمب )عيراشملا تاكرش تاجا

120,800 )

24

25 - Voting on the business and contracts concluded between the First National Operations and Maintenance Company (“NOMAC”) – affiliate of ACWA POWER- and (Arabian Qudra), in which Chairman of the Board of Directors (Mr.

Mohammad Abdullah Abunayyan) has an (indirect) interest. These businesses and contracts are (Purchase Order with no special conditions for one time for a maintenance work to fulfil the demand of Project Companies) and in the amount of (SAR 26,150). There are no preferential terms in these businesses and contracts. (Attached)

ةعبات ةكرش رواب اوكلأ

- ةكرشو

اللهدبع دمحم /ذاتسلاا( ةرادلإا سلجم سيئرل يتلاو )ةيبرعلا ةردق(

ءارش رما( نع ةرابع يهو ،اهيف )ةرشابم ريغ( ةحلصم )ناين وبا تاجايتحا ةيبلتو ةنايصلا لامعلأ ةصاخ طورش نودبو ةدحاو ةرمل ( غلبمب )عيراشملا تاكرش 26,150

يأ دجويلاو .يدوعس ريال )

طورش )قفرم( .دوقعلاو لامعلأا هذه يف ةيليضفت

25

26 - Voting on the business and contracts concluded between the First National Operations and Maintenance Company (“NOMAC”) – affiliate of ACWA POWER- and (Toray Membrane Middle East LLC), in which Chairman of the Board of Directors (Mr. Mohammad Abdullah Abunayyan) has an (indirect) interest. These businesses and contracts are (Purchase Order with no special conditions for

لا طسولأا قرشلا نياربميم ياروت( ةكرشو سيئرل يتلاو )ةدودحم

)ةرشابم ريغ( ةحلصم )ناين وبا اللهدبع دمحم /ذاتسلاا( ةرادلإا سلجم ةصاخ طورش نودبو ةدحاو ةرمل ءارش رما( نع ةرابع يهو ،اهيف غلبمب )عيراشملا تاكرش ةنايصب ةصاخ )ةيشغأ( داوم ديروتل ( 3,472,000 هذه يف ةيليضفت طورش يأ دجويلاو .يدوعس ريال )

معلأا )قفرم( .دوقعلاو لا

26

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one time for the membranes supply to fulfil the demand of Project Companies) and in the amount of (SAR 3,472,000). There are no preferential terms in these businesses and contracts. (Attached) 27 - Voting on the business and contracts concluded

between the First National Operations and Maintenance Company (“NOMAC”) – affiliate of ACWA POWER- and (Abunayyan Trading Company), in which Chairman of the Board of Directors (Mr. Mohammad Abdullah Abunayyan) has an (indirect) interest. These businesses and contracts are (A purchase order under an approved Rate Agreement for one year for the Cartledge Filter supplies to fulfil the demand of Project Companies) and in the amount of (SAR 471,200).

There are no preferential terms in these businesses and contracts. (Attached)

رادلإا سلجم سيئرل يتلاو )ةيراجتلا ناينوبا( ةكرشو دمحم /ذاتسلاا( ة

رمأ( نع ةرابع يهو ،اهيف )ةرشابم ريغ( ةحلصم )ناين وبا اللهدبع )رتلاف( داوم ديروتل ةنس ةدمل ةدمتعم رعس ةيقافتا بجومب ءارش ( غلبمب )عيراشملا تاكرش ةنايصب ةصاخ 471,200

.يدوعس ريال )

)قفرم( .دوقعلاو لامعلأا هذه يف ةيليضفت طورش يأ دجويلاو 27

28 - Voting on the business and contracts concluded between the First National Operations and Maintenance Company (“NOMAC”) – affiliate of ACWA POWER- and (Toray Membrane Middle East LLC), in which Chairman of the Board of Directors (Mr. Mohammad Abdullah Abunayyan) has an (indirect) interest. These businesses and contracts are (A purchase order under an approved Rate Agreement for three years for the membranes supply to fulfil the demand of Project Companies) and in the amount of (SAR 13,455,600). There are no preferential terms in these businesses and contracts. (Attached)

سيئرل يتلاو )ةدودحملا طسولأا قرشلا نياربميم ياروت( ةكرشو سلجم )ةرشابم ريغ( ةحلصم )ناين وبا اللهدبع دمحم /ذاتسلاا( ةرادلإا ةدمل ةدمتعم رعس ةيقافتا بجومب ءارش رمأ( نع ةرابع يهو ،اهيف تاكرش ةنايصب ةصاخ )ةيشغأ( داوم ديروتل ةعيبط تاونس ثلاث ( غلبمب )عيراشملا 13,455,600

طورش يأ دجويلاو .يدوعس ريال )

او لامعلأا هذه يف ةيليضفت )قفرم( .دوقعل

28

29 - Voting on the business and contracts concluded and that will be concluded between the First National Operations and Maintenance Company (“NOMAC”) – affiliate of ACWA POWER- and (Toray Membrane Middle East LLC), in which Chairman of the Board of Directors (Mr. Mohammad Abdullah Abunayyan) has an (indirect) interest. These businesses and contracts are (None committed fixed rate agreement for 3 years for the membranes supply to fulfil the demand of Project Companies,) the estimated cost up to (SAR 60,000,000). There are no preferential terms in these businesses and contracts. (Attached)

- ةكرشلا نيب متتس و تمت يتلا دوقعلاو لامعلأا ىلع تيوصتلا

)"كامون"( ةنايصلاو ليغشتلل ىلولأا ةينطولا -

لأا قرشلا نياربميم ياروت( ةكرشو سيئرل يتلاو )ةدودحملا طسو

)ةرشابم ريغ( ةحلصم )ناين وبا اللهدبع دمحم /ذاتسلاا( ةرادلإا سلجم ةنايصب ةصاخ ) ةيشغأ ( داوم ديروت ةيقافتإ( نع ةرابع يهو ،اهيف ـب ردقت هفلكتب تاونس ثلاث ةدمل ددحم رعس ب عيراشملا تاكرش ( 60,000,000 فت طورش يأ دجويلاو .يدوعس ريال )

هذه يف ةيليض

)قفرم( .دوقعلاو لامعلأا 29

30 - Voting on the business and contracts that will be concluded between the First National Operations and Maintenance Company (“NOMAC”) – affiliate of ACWA POWER- and (KSB Pumps Arabia), in which Chairman of the Board of Directors (Mr.

Mohammad Abdullah Abunayyan) has an (indirect) interest. These businesses and contracts are (One

- ةينطولا ةكرشلا نيب متتس يتلا دوقعلاو لامعلأا ىلع تيوصتلا

ةيبرعلا يب سا يك( ةكرشو ةرادلإا سلجم سيئرل يتلاو )تاخضملل

يهو ،اهيف )ةرشابم ريغ( ةحلصم )ناين وبا اللهدبع دمحم /ذاتسلاا(

ةصاخ طورش نودبو ةنس ةدمل ةدحاو ةرمل ءارش رمأ( نع ةرابع غلبمب )عيراشملا تاكرش تاجايتحا ةيبلتل ةمزلالا رايغلا عطق ريفوتل

30

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time Purchase Order for 1 year with no special conditions to supply the required spare parts to fulfil the demand of Project Companies.) and in the amount of (SAR 966,920). There are no preferential terms in these businesses and contracts. (Attached)

( 966,920 فت طورش يأ دجويلاو .يدوعس ريال )

هذه يف ةيليض

)قفرم( .دوقعلاو لامعلأا

31 - Voting on the business and contracts concluded between the First National Operations and Maintenance Company (“NOMAC”) – affiliate of ACWA POWER- and (Abunayyan Trading Company), in which Chairman of the Board of Directors (Mr. Mohammad Abdullah Abunayyan) has an (indirect) interest. These businesses and contracts are (One time Purchase Order with no special conditions to supply the required spare parts to fulfil the demand of Project Companies.) and in the amount of (SAR 84,715). There are no preferential terms in these businesses and contracts. (Attached)

سيئرل يتلاو )ةيراجتلا ناينوبا( ةكرشو دمحم /ذاتسلاا( ةرادلإا سلجم

دقع( نع ةرابع يهو ،اهيف )ةرشابم ريغ( ةحلصم )ناين وبا اللهدبع ةمزلالا رايغلا عطق ريفوتل ةصاخ طورش نودبو ةدحاو ةرمل ءارش ( غلبمب )عيراشملا تاكرش تاجايتحا ةيبلتل 84,715

.يدوعس ريال )

م( .دوقعلاو لامعلأا هذه يف ةيليضفت طورش يأ دجويلاو )قفر

31

32 - Voting on the business and contracts that will be concluded between the First National Operations and Maintenance Company (“NOMAC”) – affiliate of ACWA POWER- and (Saudi Tabreed Operations &

Maintenance Company (STOM)), in which the Chairman of the Board of Directors Mr. Mohammad Abunayyan, Board member Mr. Omar Almidani and former Board members Sulaiman Al Muhaidib and Mr. Rasheed AlRasheed has an (indirect) interest.

These businesses and contracts are (O&M services for two District Cooling Systems of the Red Sea projects) and in the amount of (SAR 30,141,562.80). There are no preferential terms in these businesses and contracts. (Attached)

- ةينطولا ةكرشلا نيب متتس يتلا دوقعلاو لامعلأا ىلع تيوصتلا

عبات ةكرش رواب اوكلأ ة

-

سيئرل يتلاو )ةنايصلاو ليغشتلل ةيدوعسلا ديربت ةكرش( ةكرشو ةرادلإا سلجم وضع و ناين وبا اللهدبع دمحم /ذاتسلاا ةرادلإا سلجم /ذاتسلاا نيقباسلا ةرادلإا سلجم يوضعو يناديملا رمع /ذاتسلاا ،اهيف )ةرشابم ريغ( ةحلصم ديشرلا ديشر /ذاتسلااو بديهملا ناميلس

)رمحلأا رحبلا عورشم تادربمل ةنايصو ليغشت دقع( نع ةرابع يهو ( غلبمب 30,141,562.80 طورش يأ دجويلاو .يدوعس ريال )

)قفرم( .دوقعلاو لامعلأا هذه يف ةيليضفت 32

33 - Voting on the participation of the Board member Suntharesan Padmanathan in a business competing with the Company's business as he is a board member and founding shareholder of X-links company which engages in similar activity of the Company.

- ناسي راثنس /ذاتسلاا ةرادلإا سلجم وضع كارتشا ىلع تيوصتلا

وضع هنوكل كلذو .ةكرشلا لامعلأ سفانم لمع يف ناثنمداب سلجم

طاشن عون نم ًاطاشن لوازت يتلا سكنيل سكإ ةكرشل سسؤمو ةرادإ )قفرم( .ةكرشلا

33

34 - Voting on the participation of the Board member Suntharesan Padmanathan in a business competing with the Company's business as he will be a board member and founding shareholder Zhero company which engages in a similar activity of the Company.

(Attached)

- ناسي راثنس /ذاتسلاا ةرادلإا سلجم وضع كارتشا ىلع تيوصتلا سلجم وضع هنوكب كلذو .ةكرشلا لامعلأ سفانم لمع يف ناثنامداب

عون نم ًاطاشن لوازت يتلا وريز ةكرشل سسؤمو ةرادإ .ةكرشلا طاشن

)قفرم(

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Board Audit Committee Report for Fiscal year 2021

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1 Introduction

Article (104) of the Companies Law states that, “The audit committee shall review the company’s financial statements and the auditor’s reports and notes and give its comments thereon, if any. The committee shall also prepare a report of its opinion concerning the efficiency of internal control within the company and about any other activities falling within its powers. The board shall deposit sufficient number of copies of such report at the head office of the company at least 10 days prior to the general assembly meeting to be available for shareholders. Said report shall be read during the meeting of the general assembly”. We are pleased to share with you ACWA Power Audit Committee Report for the year 2021, prepared in line with the requirements of the Companies Law, the Regulations and Rules of the Capital Market Authority and the Committee's charter, and will be glad to answer any questions in this regard after reciting the summary of the report during the General Assembly Meeting.

Meetings

The Committee held 17 meetings during 2021, as tabulated below, and the quorum for each meeting was achieved.

BAC MEETING ATTENDANCE

Name Title 2-Mar 3-Mar 12-Mar 28-Mar 6-Apr 14-Apr 20-Apr 7-Jun 9-Jun

Mr. Khalid Al Rabiah Chairman Attended Attended Attended Attended Attended Attended Attended Attended Attended Mr. Harold Manasa Member Attended Attended Attended Attended Attended Attended Attended Attended Attended Mr. Rasheed Al Rasheed Member Attended Attended Attended Attended Attended Attended Attended Attended Attended Mr. Abdulrahman Al Khelaifi Member Attended Attended × Attended Attended Attended Attended Attended Attended Mr. Abdullah Al Rowais Member Attended Attended × Attended Attended Attended Attended Attended Attended

BAC MEETING ATTENDANCE

Name Title 27-Jun 8-Jul 15-Aug 20-Sep 14-Oct 25-Oct 04-Nov 5-Dec Total

Mr. Khalid Al Rabiah Chairman Attended Attended Attended Attended Attended Attended Attended Attended 17 Mr. Harold Manasa Member Attended Attended Attended Attended Attended Attended Attended Attended 17 Mr. Rasheed Al Rasheed Member Attended Attended Attended Attended Attended Attended Attended Attended 17 Mr. Abdulrahman Al Khelaifi Member × Attended Attended Attended × × Attended Attended 13 Mr. Abdullah Al Rowais Member × Attended Attended Attended Attended × Attended Attended 14

ACWA Power operating model

As per the operating model adopted by ACWA Power, the subsidiaries are governed through ACWA Power representatives in the subsidiaries’ Board and the Audit Committees.

Summary of Audit Committee duties and responsibilities executed in 2021 a. Financial reporting

Reviewed and recommended to the Board of Directors the approval of the quarterly results and year-end consolidated financial statements focusing particularly on the reliability of the information disclosed therein, changes in accounting policy, significant and unusual events, reasonableness of accounting estimates for significant issues, as well as compliance with accounting standards and other legal requirements.

b. Internal audit

 Reviewed and approved the internal audit department charter, plan and outputs and ensured whether the function has the necessary authority and resources to carry out its work while maintaining its independence.

 Reviewed and assessed internal audit reports and monitored the tracking and follow-up of implementation process determining whether or not appropriate actions are taken in respect of the internal audit recommendations therein.

c. External audit

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2

 Reviewed the External Auditors service delivery plan, scope of work, the results of the financial audits, the relevant audit reports and management letter together with management responses or comments to the audit findings.

 Ensured that appropriate assistance was given by the Executive Management team to the External Auditors and that no difficulties were encountered during the course of the audit, including any restrictions on the scope of activities or access to required information.

 Reviewed bids received for external audit services and recommended the appointment of external auditors for the quarterly and year end audits in 2021.

d. Related party transactions

Reviewed and endorsed the related party transaction to ensure that related party transactions are properly disclosed in the Board of Directors report and audited financial statements.

e. Compliance

Reviewed report from the Compliance Department including design and effectiveness of controls for managing regulatory compliance risks

f. Integrity Hotline

Oversaw the whistleblowing reporting facility which captures and records matters raised by any stakeholders, including the Executive Management team, senior managers and employees (permanent, temporary and part-time), shareholders, trainers, clients, individuals, agency staff, consultants, suppliers and vendors.

Audit Committee assessment

Based on the outcomes of IA reports, meetings with the external auditor and management’s confirmation, nothing has come to the attention of the Audit Committee that would indicate significant weakness in the system of internal controls.

ACWA Power showed improvements over the year, and under the Committee’s supervision, ACWA Power will continue its assessment and reviews of the system of internal control to ensure the achievement of the set objectives of the internal control system to improve the efficiency and effectiveness of the operations and compliance with all applicable laws and relevant regulations. However, the Audit Committee emphasizes that due to the geographical spread of ACWA Power’s operations and the ongoing effort to improve internal controls, we are unable to conclude on the comprehensiveness and adequacy of the internal control procedures. The Audit Committee supports management’s efforts to continue their focus to develop and improve the effectiveness and efficiency of the internal control procedures globally.

Khalid Al-Rabiah

Chairman of the Audit Committee

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Chairman notification letter pertaining to business and contracts which involves interest to directors in accordance

to article 71 of the Companies Law

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External Auditor report pertaining to business and contracts which involves interest to directors in accordance to article

71 of the Companies Law

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Summary of Competing Interest

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Membership Nature Membership status

Legal Form of the company Business Mani Activity

Company Name

In his personal

capacity Non-Executive

Private limited Company Develop, own and operate long

distance electricity interconnectors to connect grids or optimum sources of power generation with demand centers by developing its own electricity generation capacity or by purchasing from and selling on capacity contracts and/or to merchant markets.

Xlinks UK Limited

In his personal

capacity Non-Executive

Under incorporation

in the Netherlands Building, developing,

repurposing and operating green energy infrastructure.

Zhero Inc

A statement and description of the companies in which member of the Board of Directors, Mr. Suntharesan Padmanathan, exercise a competing activity