NOTIFICATION OF AWARD

Date: 29 April 2025

To:
Ackerman & Associates LLC

Attention: Manging Director,
Ackerman & Associates LLC

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Subject: Award of Contract – ACWA Power Renewable Energy Collaboration Contract

Dear Ted Ackerman,

Following the evaluation of submitted proposals under the tender for the ACWA Power Renewable Energy Collaboration Contract, we are pleased to inform you that Ackerman & Associates LLC has been selected as the successful bidder.

Accordingly, we hereby issue this Notification of Award for the project as outlined below:

Contract Details

• Client: ACWA POWER – Abu Dhabi
• Contractor: Ackerman & Associates LLC – USA
• Project Title: Development, Construction, and Commissioning of a Solar Energy Project
• Contract Value: AED 11,744,000 (Approximately USD 3,200,000)
• Contract Type: Engineering, Procurement, and Construction (EPC) Contract
• Contract Duration:
  • Commencement Date: 02 May 2025
  • Completion Date: 16 May 2025
• Scope of Work:
  • Engineering, Procurement, and Construction (EPC) services
  • Grid connection and integration
  • Operations and Maintenance (O&M) for five (5) years
  • Compliance with Abu Dhabi’s environmental and energy regulations
• Payment Terms:
  • 20% advance payment upon contract execution
  • 30% upon delivery of major equipment
  • 50% upon successful commissioning
• Payment Currency: AED or USD

Conditions Precedent to Contract Signing

In accordance with standard contractual procedures, you are required to submit the following documents for verification and approval prior to the Contract Signing Ceremony scheduled for 1 May 2025:

• Performance Bond:
  - Value: 5% of the total contract amount
  - Format: Unconditional and Irrevocable Bank Guarantee
  - Validity: Until issuance of Final Acceptance Certificate
• Insurance Certificates:
  - Contractor's All-Risk (CAR) Insurance
  - Workers' Compensation Insurance
  - Third-Party Liability Insurance
• Company Registration Documents:
  - Valid Trade License
  - Certificate of Incorporation
  - Tax Compliance Certificate
• Project Execution Plan:
  - Initial Work Program
  - Health, Safety, and Environmental (HSE) Plan
  - Quality Assurance and Quality Control (QA/QC) Plan
• Authorized Representatives List:
  - Names and contact details of individuals authorized to act on behalf of Ackerman & Associates LLC
• Other Documentation:
  - Any additional documents reasonably requested by the Client

Instructions for Next Steps

You are requested to liaise with the office of the Contracts and Legal Department of ACWA POWER – Abu Dhabi immediately upon receipt of this Notification to coordinate and submit the above documentation for review.

All required documents must be submitted no later than 30 April 2025, to allow sufficient time for verification before the scheduled contract signing on 1 May 2025.

Failure to submit the required documentation within the specified timeline may result in cancellation of the award.

Important Notes

• This Notification of Award does not constitute a binding contract.
• A binding contract shall come into force only upon the execution of the formal Contract Agreement by both parties.
• Until such execution, no contractual relationship shall exist.

We look forward to a successful collaboration and the timely execution of the Project.

Should you require any clarification regarding this Notification or the required submissions, please contact the undersigned immediately.